Latest news with #Point
Yahoo
2 days ago
- Business
- Yahoo
Point and Funds Managed by Blue Owl Capital Close Oversubscribed $248 Million Home Equity Investment Rated Securitization
Point completes its fourth rated securitization, securing over $2 Billion in orders from investors, signaling further maturation of the home equity investment asset class Palo Alto, California, June 05, 2025 (GLOBE NEWSWIRE) -- Point, the leading home equity investment platform making homeownership more valuable and accessible, and funds managed by Blue Owl Capital ('Blue Owl') announced today that they have completed a rated securitization of Point's Home Equity Investment ('HEI') assets, issuing $248.6 million of rated asset-backed securities (the 'Transaction'). The Transaction is Point's fourth rated securitization and fifth overall. The Transaction closed on May 23, 2025. The issuer, Point Securitization Trust 2025-1, issued $162.2 million of senior class A-1 securities rated A (low) (sf), $35 million of mezzanine class A-2 securities rated BBB (low) (sf), $28.3 million of subordinate class B-1 securities rated BB (low) (sf), and $23.1 million of subordinate class B-2 securities rated B (high) (sf) (retained), all rated by Morningstar DBRS. A portion of the notes were acquired by accounts managed by an affiliate of Blue Owl. The Transaction drew significant interest from both new and repeat institutional investors, resulting in the Transaction being more than 8x oversubscribed. Co-sponsoring the Transaction with a subsidiary of Blue Owl, Point was the originator of all the HEIs in the securitization and will continue to service the assets. 'This past year has been transformative—for Point and for the entire HEI space,' said Eddie Lim, co-founder and CEO of Point. 'Investor demand has never been stronger, and the performance of our deals continues to outperform expectations. Our latest securitization was met with overwhelming enthusiasm, reinforcing that HEIs aren't just gaining traction—they're reshaping how homeowners access equity. We're just scratching the surface of what's possible.' Over the past 18 months, the rated securitization space for HEIs has entered a new phase of maturation. With multiple HEI-backed deals successfully rated, the asset class is seeing increased institutional recognition and investor confidence, with issuance volume doubling and the number of transactions tripling in 2024 alone[1]. According to Finsight[2], HEI-backed deals totaled $936 million across five transactions last year—up significantly from prior years. These transactions have helped set important benchmarks for credit quality, structure, and performance, signaling a shift from emerging to established within the alternative housing finance landscape. 'The Blue Owl Alternative Credit team and Point have a longstanding relationship dating back to 2018, and we are excited to continue our partnership with the Point team,' said Ivan Zinn, Head of Alternative Credit at Blue Owl. 'This marks the second Point transaction that Blue Owl has co-sponsored, and we look forward to doing many more together. The success of this transaction is a testament to the Point platform and validates the thesis that HEIs will continue to be a growing asset class.' Barclays Capital Inc. ('Barclays') was the sole-structuring agent for the issuance. Barclays, Citigroup Global Markets Inc., and Nomura Securities International Inc. were joint bookrunners on the Transaction, and East West Markets, LLC and Cantor Fitzgerald & Co. were co-managers on the Transaction. About Point Point is the leading home equity platform making homeownership more valuable and accessible. Point's flagship product, the Home Equity Investment (HEI), empowers homeowners to unlock their equity to eliminate debt, get through periods of financial hardship, and diversify their wealth – without adding to their monthly expenses. Point has worked with more than 15,000 homeowners, unlocking more than $1.5 billion in home equity. Point's HEI enables investors to access a previously untapped asset class – owner-occupied residential real estate. Founded in 2015 by Eddie Lim, Eoin Matthews, and Alex Rampell, Point is backed by top investors, including Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Blue Owl Capital, Alpaca VC, and Prudential. The company is headquartered in Palo Alto, CA. For more information, please visit Blue Owl CapitalAbout Blue Owl: Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $273 billion in assets under management as of March 31, 2025, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Assets. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation. Together with over 1,200 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit [1] Source: [2] Source: CONTACT: Amanda Woolley Point 3603191738 awoolley@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Tariffs and Social Security Cuts Among Boomers' Top Worries: 2 Ways To Prepare For the Worst
Many boomers feel their finances are on shaky ground, even if they have the stability that typically comes with being a homeowner. A recent report from Point, a home equity investment platform, found that nearly half (47%) of homeowners over 60 say they feel less financially secure than they did a year ago, and 48% are uncertain about their financial situation over the next 12 months. Find Out: Read Next: Among U.S. homeowners ages 60 and older, 79% are at least somewhat concerned about the possibility of a recession in the next 12 months and 73% believe tariffs will make their financial situation worse in the next 12 months. In addition, among homeowners of all ages who currently collect or plan to collect Social Security in the next 12 months, 73% are concerned about the potential of benefit cuts. Here's a closer look at whether these concerns are warranted, and what boomers can do now to financially prepare for the worst. While tariff policies are constantly in flux, increased costs have already been rolling out. 'When and where we've seen the announced tariffs stick, consumer prices have started to increase,' said Aaron Terrazas, economist for Point. 'That reduces the real purchasing power of anyone who buys those goods.' This can be particularly difficult to navigate for retirees who are living on a fixed income. Learn More: The majority of homeowners ages 60 and above are concerned about the possibility of a recession, the report found — and it's not just boomers who have these worries. 'That is also the majority consensus among Wall Street economists,' Terrazas said. 'Of course, recessions are notoriously difficult to predict and over the past few years we've seen consistently elevated recession fears that have not yet come to pass. But even if they are just fears that never materialize, recession worries can dampen spending and investment decisions leading to slower growth, even if it falls short of an economic contraction.' President Donald Trump has promised he would not make cuts to Social Security, but many beneficiaries are still concerned these could be on the table. 'Congress is still negotiating the details for the federal budget and possible tax legislation, so we don't yet know what changes might be included,' Terrazas said. 'In the past, direct cuts to the benefits that current Social Security recipients get are rare; more often we have seen cuts to the benefits that future recipients can expect. 'The fact that so many current recipients are concerned speaks to fragile household finances after years of high inflation and, more recently, a decline in the stock market.' With so many unknowns, it's best to err on the side of caution and take proactive steps now to protect your finances from whatever may be on the horizon. Terrazas said the first step boomers should take is to seek professional advice. 'First and foremost, it's important to work with a financial advisor as you approach retirement to ensure that you have sufficient income if a recession were to hit or if inflation were to spike during the initial years out of the workforce,' he said. In addition, boomers may want to reevaluate their spending. 'It may make sense to temporarily reduce spending.' Terrazas said, 'and access liquid savings to avoid drawing down asset wealth when the stock market is momentarily down.' More From GOBankingRates 10 Genius Things Warren Buffett Says To Do With Your Money This article originally appeared on Tariffs and Social Security Cuts Among Boomers' Top Worries: 2 Ways To Prepare For the Worst
Yahoo
21-05-2025
- Business
- Yahoo
Do you need an appraisal for a HELOC or home equity loan?
Whether you're eyeing a home renovation, consolidating debt, or starting a business, borrowing against your home equity can be a viable option. But before you get ready to cash in, there is one step you will likely need to take: getting your home appraised. In this guide, we will dive into whether you need an appraisal when applying for a home equity loan or HELOC, how the process works, the types of appraisals and how much they cost. The short answer is typically yes. Before lenders approve you for a HELOC or home equity loan, they usually require an appraisal, which is an assessment of your home's worth – what it would fetch if sold on the current housing market. By determining your home's value, the appraisal will help determine the amount of equity you have, and the amount the lender will allow you to borrow against. Typically, you won't be able to access all your available equity, as most lenders cap that amount at 80 to 85 percent of your ownership stake. Keep in mind: Your home equity stake basically equals your home's current value, minus your outstanding mortgage. Home appraisals confirm a property's current market value. Everything about the process of getting HELOCs and home equity loans stems from that value. You may recall that, when you bought your home, your mortgage lender ordered an appraisal to determine what the property was worth, and how big a sum you could borrow for it. The aim here is similar. 'Home equity products are secured against the borrower's home and lenders want to ensure sufficient equity even in the case of home price fluctuations,' says Shoji Ueki, chief growth officer at Point, a home equity investment firm based in California. 'If the market changes or something unexpected happens, we want to be sure the value of the home still supports the investment amount. It helps us manage risk and ensures the borrower isn't overleveraging their home.' A home's valuation is also a 'key driver in the pricing' of the loan, explains Kiran Kuar, head of credit at Figure, a North Carolina-based HELOC lender. Lenders look at your loan-to-value ratio (LTV), which is the amount of money you're borrowing divided by the value of your property. If that percentage is higher than the lender's LTV threshold, they may reduce your loan amount, or even deny your application altogether. If your LTV is in the acceptable range, but close to the max, they may approve the loan, but with a higher interest rate. Despite its importance, a new appraisal for a HELOC or home equity loan is not an absolute requirement in all cases. If you happen to have gotten a full home appraisal shortly before starting your HELOC application – while applying for another loan, say – your lender might accept it. 'If a prior appraisal is available and meets current investor guidelines, it may be reused,' says Vishal Garg, CEO of Better, a HELOC lender headquartered in New York. Generally, that appraisal should be relatively recent, no more than six months old (since the whole point is to determine the home's current market value). Increasingly, home equity lenders are also waiving the traditional in-person appraisal for an automated valuation model (AVM). An AVM is a computer-based algorithm that uses publicly available data to estimate a home's value, without human input. Obviously less time-consuming and costly, AVMs are often used for borrowers with strong credit scores (in the mid-700s to 800s) looking for a small loan relative to the value of their home or to the amount of their equity (since they've paid off a significant portion of their existing mortgage). No humans needed Over 75 percent of HELOC and home equity loan originations now are subject to an automated valuation model (AVM) or desktop valuation (DV) method, with the majority of both categories entailing only an exterior/drive-by or no inspection at all. AVMs were utilized on 43% of home-equity loan originations. The AVM 'is a very frictionless, zero-time method to value someone's home,' says Kuar. 'The borrower does not have to wait. It's instant. You can present a decision fairly quickly to the consumer.' Kuar acknowledges that AVMs may be limited by the data they have, though. They 'assume that the house is in average condition and in a similar condition to other properties in the immediate neighborhood,' she says. That means it won't capture any extensive value-enhancing upgrades or renovations you've made to your property (of course, it won't indicate if the place is in disrepair, either). Once you apply for your home equity loan or HELOC, your lender will let you know if an appraisal is required and what type will be used. Here's a snapshot of the different types of appraisals that may be used, what they entail and other criteria: Appraisal type Description Data sources Time to complete Cost Full appraisal Most comprehensive; includes physical inspection of interior and exterior Site visit, recent comparable sales, multiple listing service (MLS) data, market data, public records 30 minutes–several hours for inspection; 1–3 weeks total $300 or more (depends on size of home) Automated valuation model (AVM) Computer-generated estimate using statistical models and public data Public records, recent comparable sales, market data A few minutes or less $10-25 Desktop valuation /appraisal (DV) Professional appraisers make valuations based solely on data, without any physical inspection MLS data, public records, recent comps, photographs 1–3 days $75-$200 Hybrid appraisal Combines a field inspection with a desktop valuation by an appraiser Site visit, recent comps, market data 30–60 minutes for inspection; 2-7 days for analysis $150-$300 Broker price opinion (BPO) Opinion of a broker or real estate agent about the value of home Recent comparable sales, market data 1 day or more $50-$300 Drive-by appraisal Appraiser views the property from the street; no interior inspection Exterior observation, MLS data, public records, recent comps, photographs 15–30 minutes; report within a few days $100-$150 Learn more: Home appraisal vs. home inspection: What is the difference? No-appraisal HELOCs You've probably seen some lenders advertising no-appraisal HELOCs, which are somewhat of a misnomer. With these loans, a professional won't be scouring through every nook and cranny of your home as with a traditional appraisal. However, the lender may use alternative methods to value your home, like AVMs, desktop valuations or drive-by appraisals. The appraisal process for a HELOC or home equity loan varies depending on the lender, but the purpose is the same: to determine the market of your home. Here's a step-by-step run-through of the process from beginning to end. Begin the HELOC or home equity loan application by providing details about your income, debts, property and financial history. After the loan application is submitted, the lender will evaluate your financial profile, including your credit score and existing mortgage balance. If you meet the initial criteria, the lender orders an appraisal to determine your home's market value. The type of appraisal (full, drive-by, desktop, or AVM) depends on the lender's policies and loan amount. If an appraisal fee applies, the borrower usually pays for it, while the lender chooses who performs it. If an in-person appraisal is required, you will need to schedule a time for the appraiser to visit your home. The findings of the appraisal are compiled in a report, including the estimated value of the property and supporting documentation such as recent comps and then submitted to the lender. The lender uses the appraisal to calculate your home equity and determine how much they're willing to lend. How quickly you receive a decision will vary depending on the lender and the type of appraisal conducted. Based on the appraisal and your financial profile, the lender finalizes their offer. The findings of the appraisal may impact your loan terms or approval. You may also be asked for more documentation or offered a reduced loan amount. After you see the results of your appraisal, don't be surprised if the value of your home is vastly different from the estimate given by a real estate listings site or calculator 'That number published online is a very rough estimate,' says Jennifer Wentworth, owner and certified residential appraiser at MLS Appraising, an appraisal company based in Denver. 'The actual value can vary quite a lot from that. It can be less and it can be more, but it doesn't mean that it's a bad appraisal or that there's a problem with the appraisal. It's just what happens when 'we're actually looking at the specifics for a home in the actual market.' Can you get a home equity loan or HELOC without an appraisal? You might be able to get a home equity loan or HELOC without a full appraisal, if your lender uses an automated valuation model, a desktop valuation or a drive-by appraisal to value your home (or some sort of combination). However, lenders require some way to confirm your home's current market value before approving your loan. How should you prepare for a home equity appraisal? If your lender ordered an in-person appraisal, make sure your home is clean and well-maintained. Complete any minor repairs and gather information on recent improvements or upgrades you've made. It also helps to know the sale prices of similar homes in your neighborhood to give the appraiser some context. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Times
02-05-2025
- Sport
- New York Times
NHL's Lady Byng Trophy finalists revealed: Eichel earns first nomination
Vegas Golden Knights forward Jack Eichel, Los Angeles Kings forward Anze Kopitar and Tampa Bay Lightning forward Brayden Point have been named as this year's finalists for the Lady Byng Memorial Trophy, given to the NHLer who best exemplifies sportsmanship and gentlemanly conduct 'with a high standard of playing ability.' Advertisement Eichel scored 28 goals and 94 points in 77 games with the Golden Knights this season. It's the most points he's ever registered in a single season. Eichel also only had eight penalty minutes. His lowest total in a season was six, a feat he's accomplished twice. First, during an injury-shortened 2020-21 season with the Buffalo Sabres and during the 2022-23 season with the Golden Knights. However, this year marks the first time he's been nominated for the Lady Byng Trophy. Kopitar hopes to win his third Lady Byng, and his first since 2022-23. The 37-year-old center scored 21 goals and 67 points in 81 games this year while only registering four penalty minutes. When Kopitar won the honor in 2023, the Kings center also only had four penalty minutes that season. Kopitar is also coming off a third consecutive 20-goal season with the Kings. This is Point's second nomination for the Lady Byng, with his first coming after the 2022-23 season. Point scored 42 goals and 82 points in 77 games with the Lightning. Point also had seven penalty minutes this season, the same total he had in 2023, when he was last nominated. If Point is named the winner, it would be the two-time Stanley Cup winner's first individual NHL award. Carolina Hurricanes defenseman Jaccob Slavin won the Lady Byng last season, for the second time. (Photo of Jack Eichel and Anze Kopitar: Ethan Miller / Getty Images)
Hans India
30-04-2025
- Politics
- Hans India
Bhu Bharati aims to resolve land disputes effectively: Collector Abhilash Abhinav
Nirmal: The State government enacted the Bhubharati Act to resolve land disputes effectively, district Collector Abhilash Abhinav emphasised its significance at an awareness seminar held in Andakur village, Kuntala mandal on Tuesday. Officials provided farmers with a Power Point presentation explaining the new ROR (Record of Rights) Act, which aims to streamline the regularisation of pending land transactions. The Bhubharati portal allows farmers to submit online applications, and revenue officials will conduct mutation and registration processes. If there are objections, farmers can appeal through a two-tier system. Additionally, the government is offering free legal assistance to poor farmers. Each land parcel will be assigned a unique Bhudhar number, similar to Aadhaar, ensuring clear boundaries and transparent land records. The Bhu Bharati Act addresses issues caused by Dharani, ensuring online updates whenever a mutation occurs, the officials explained. Villagers also shared their land-related concerns with the Collector, who directed officials to resolve immediate issues on the spot. Other cases will be handled under the Bhubharati Act. The event was attended by Additional Collector (Revenue) Kishore Kumar, tahsildar Kamal Singh, MPDO Limbadri, officials, and villagers.
