Asset Securitization Report Highlights Hometap’s $50M Funding to Support HEI Growth

One year after completing its inaugural home equity investment securitization and raising $217 million, Hometap has secured $50 million from Gallatin Point Capital to support product development and other business initiatives.

Hometap, based in Boston, will invest the funds in tools and education pushes that support its lending activities. The company's core home equity investment (HEI) product offers borrowers cash upfront in exchange for a percentage of the home future equity. It allows homeowners to access the equity in their homes without monthly payments, a company statement explained.

This article originally appeared in Asset Securitization Report. Read the full article here.