Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Rohit Chopra pleads the fifth on QM rule

Consumer Financial Protection Bureau Director Rohit Chopra, in his first report to Congress, answered for decisions made by his predecessor, and provided some indication of his priorities going forward.

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner. 

Which core segments of brokerage make the most money

Today’s HousingWire Daily is a RealTrending crossover episode. It features Tracey Velt, editorial director at HW Media Company RealTrends, who interviews Chris Kelly and Christian Wallace.

Mortgage

Redwood Trust plants flag in the massive home equity market

The REIT teams with tech firm Point to launch securities offering backed by a novel product, called an HEI contract

HW+ House Money

Redwood Trust CEO Christopher Abate laid out a bold vision of growth for the real estate investment trust at an investor conference in New York City last month. Part of that vision included finding ways to tap into the nation’s multitrillion-dollar pool of home equity. 

To that end, Redwood Trust has partnered with Point, a fintech firm that provides homeowners who may not otherwise qualify for a home-equity loan with a path to tapping the equity in their homes. That is done via what is called a home-equity investment contract, or an HEI. 

This week, Redwood and Point, the latter founded in 2014, announced that they have completed a first-of-its-kind securitization supported by those HEI contracts. 

The private-placement transaction, which closed in late September, involved issuing $146 million in securities through a conduit dubbed Point Securitization Trust 2021-1. The offering, backed by HEI contracts, was structured in two tiers — with $120 million of unrated senior class A-1 notes and about $26 million of unrated class A-2 securities. 

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