"Point's product provides homeowners with a lump sum of cash in exchange for a share of their home's future appreciation, which can be used to pay off debt, finance renovations or cover other expenses. The investment is typically repaid when the home is sold or the mortgage is refinanced. Founded in 2015 by Eddie Lim, Eoin Matthews and Alex Rampell, Point has reportedly funded more than $2 billion in HEIs for 20,000-plus homeowners."
"Its investors include Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Alpaca VC and Prudential. Point expects its 2025 performance to be three times higher than last year's. Blue Owl's commitment will expand the company's HEI capacity nationwide, the companies said. Lim, the CEO of Point, said the partnership with Blue Owl positions us to scale even faster."
"Ivan Zinn, head of alternative credit at Blue Owl, added that its relationship with Point dates back to 2018, but this marks our largest commitment with Point to date. In early November, the companies announced a $390 million HEI securitization, with assets originated and serviced by Point. It is the first HEI securitization to comply with EU and UK securitization and transparency frameworks, broadening global investor access."
Point provides homeowners a lump sum in exchange for a share of future home appreciation, repayable on sale or refinance. Founded in 2015 by Eddie Lim, Eoin Matthews and Alex Rampell, Point has funded over $2 billion in HEIs. Investors include Andreessen Horowitz and Greylock. Point expects 2025 performance to be three times last year. Blue Owl's commitment will expand HEI capacity nationwide. In early November Point and Blue Owl announced a $390 million HEI securitization compliant with EU and UK frameworks to broaden investor access. Blue Owl also completed a $283.3 million rated HEI securitization with Splitero.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]