"Through each securitization, we're able to transform investor enthusiasm for Hometap HEI asset-backed securities into offerings that provide homeowners with stability and the confidence to reach their financial goals, said Jeffrey Glass, CEO of Hometap. Hometap has now deployed more than $2 billion in home equity investments and served more than 20,000 homeowners. In a recent interview with HousingWire, Hometap chief financial officer Tom Egan said that the company has only scratched the surface of unlocking the full potential of home equity."
"HEIs are contracts in which a homeowner receives cash now in exchange for a share of the home's future value. The money is typically repaid when the homeowner sells or refinances. There are no monthly payments over the life of the investment, which typically lasts 10 years. Cara Newman, vice president and head of structured finance at Hometap, said the company's multiple securitizations are paving the way for broader investor participation in future HTAP transactions."
Hometap has deployed more than $2 billion in home equity investments and served over 20,000 homeowners. Through securitizations, Hometap converts investor enthusiasm for HEI asset-backed securities into offerings that provide homeowners cash, stability, and confidence to pursue financial goals. HEIs exchange cash now for a share of a home's future value, with repayment typically occurring when the homeowner sells or refinances. HEIs require no monthly payments and usually last about ten years. Multiple securitizations aim to broaden investor participation, though industry demand faces limited private-equity appetite because HEIs remain a relatively new investment option.
Read at www.housingwire.com
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