"We're building a one-stop financial platform designed to fully serve the needs of homeowners. Our expansion into mortgage products will bring the same speed and efficiency that transformed home equity access, with the goal of creating the best mortgage refinance experience in the market."
"Aven is addressing a pervasive challenge in consumer finance: the high cost of capital."
Aven, founded in 2019, reports issuing more than $3 billion in credit lines and saving homeowners $215 million in interest. The company offers a credit card backed by a home equity line of credit (HELOC) that can reduce borrowing costs by up to 50% and a rewards card with 2% unlimited cash back. Aven's Visa cards are issued by Coastal Community Bank. The firm is rolling out a mortgage refinancing product and aims to build a machine banking platform that uses real assets to lower consumer costs. The advisory board and new relationships include Summers, McHenry, Kevin Warsh, Michael DeVito, Tim Mayopoulos, and Jim Messina.
Read at www.housingwire.com
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