An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Did you miss out on HousingWire Annual? We have you covered! Join us virtually on October 25 for a chance to see hand picked sessions from our in-person HousingWire Annual in Frisco. Register now for FREE!

How brokers can help today’s unique borrower

The average borrower has drastically changed throughout the years. More borrowers are self-employed, work remotely and have multiple streams of income. Learn about the tools to assist any borrower quickly and effectively.

Experts on how AI makes a difference in the mortgage process

Today’s HousingWire Daily features a roundtable discussion on “Humans versus really smart machines” and what the right mix looks like to gain efficiencies in the mortgage loan manufacturing process.

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. 

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    Most Popular Articles

    Fannie Mae: Mortgage rates and home prices will rise in ’22

    Economists at Fannie Mae expect higher mortgage rates and home prices next year due to higher inflation, a tightening of monetary policy, and low home inventory

    Oct 15, 2021 By

    Latest Articles

    What does it really mean to digitize the closing process?

    ICE Mortgage Technology, a global provider of data, technology and market infrastructure, recently announced that Encompass eClose, its end-to-end eClose solution, is expanding its hybrid capabilities to now include full eNote and eVault functionality. In advance of that announcement, HousingWire Editor-in-Chief Sarah Wheeler had the opportunity to catch up with ICE Mortgage Technology President Joe Tyrrell to talk about what it actually means to digitize the closing process.

    Oct 18, 2021 By
    3d rendering of a row of luxury townhouses along a street

    Log In

    Forgot Password?

    Don't have an account? Please