Home equity alternative Point raises $122M in new funding

By giving an investor a slice of ownership in your property, you can tap your home’s equity without taking out a loan – or even double your down payment on a new house. It’s called a shared.

Point, which enables homeowners to tap into some of their home equity using a model similar to a reverse mortgage, reports that it has raised $22 million in Series B equity funding as well as a platform capital commitment of $100 million which it will use to fund its ongoing expansion.

Point Raises $15.4 Million In Total Funding, Led By Andreessen Horowitz, To Help Homeowners Unlock Home Equity Wealth Without Borrowing

Palo Alto, Calif.-based Point, a shared equity reverse mortgage alternative that gives homeowners the ability to sell a small fraction of their equity, has raised $22 million in series B investment funding, and an additional $100 million in platform capital. This brings total equity investment in the product to $33 million, and total platform capital [.]

Mortgage application volume drops on less purchase activity As a result of these declines in rates, we saw a brief surge in refinance activity. We had a three-week period in late March when the 30-year fixed rate dropped from 4.55 percent to 4.36 percent and we saw a pick-up in refinance applications, especially for high loan balance borrowers.John Ralston The Nevada Independent is a nonpartisan, nonprofit news and opinion website founded in 2017 by veteran political journalist and commentator Jon Ralston. The site and its supporting channels are focused on ethical, unbiased and transparent journalism. In general, we aim to gather and disseminate important public information and increase civic engagement.Rising rates now affecting purchase mortgage application activity The Index, a measure of mortgage loan application volume, decreased 3.4 percent on a seasonally adjusted basis during the week ended june 14 after gaining nearly 27 percent the prior week.

Home equity alternative Point raises $122M in new funding. Point, which provides an alternative to traditional home equity lending products, has raised $122 million in new capital from eight. Read More . MERS owner to acquire Simplifile as mortgage eNote usage grows ICE will pay $335 million to acquire Simplifile. is registered on the MERS eRegistry. Digital solutions such as the eNote are gaining traction and represent an important step towards a fully.

Point is paid when you i) sell your home, or ii) at the end of the term, or iii) during the term, when you choose to buy back. Regardless of the timing, there’s no early buyback penalty. If you sell your home within the term then Point is automatically paid from escrow.

Volume of Fannie Mae risk-sharing deals hits $2.6B in 2018 On February 11, Fannie Mae priced its tenth Connecticut Avenue Securities (cas) risk-sharing transaction. Since the program’s inception in 2013, Fannie has issued $13.4 billion in these notes, covering about $470 billion in newly originated single-family mortgages and obligating the company to pay about $7 billion over the next ten years in premiums and hedging.

Homeownership investment company Point just landed a major cash infusion that will fund its plans to help more Americans access their home equity, raising $100 million in platform capital and.

January home prices show 5% increase: Black Knight U.S. home prices increased 0.7% in February compared to January and were up 4.6% compared to February 2014, according to Black Knight Financial Services’ home price index (HPI) report. The average home price for the month of February was $242,000, up from $241,000 in January. The slight increase brought the average home price to within [.]Lender with ties to Warren Buffett backs a loan for manufactured homes KEYWORDS Berkshire hathaway clayton homes manufactured homes Warren Buffett. Every year billionaire investor Warren Buffett releases an annual letter to berkshire hathaway shareholders, unraveling the inner workings of his conglomerate’s performance, including its stake in the housing affordability crisis.

Mortgage technology provider Blend reports that it has raised $130 million in Series E funding, led by Temasek and General Atlantic.. The company, which offers a digital point-of-sale platform, says it will use the funding to broaden its suit of digital lending products and to further its vision of a "one-tap lending future."