As positive equity returns in greater volume to the housing market, many originators forecast that home equity-related products will be among the mortgage world’s most popular offerings in 2015. However, a San Francisco-headquartered start-up is offering a boldly different approach to the home equity, brushing aside the traditional HELOCs in favor an intriguing new idea: The world’s first residential real-estate equity exchange.
The company in question is Primarq, and its mission is to launch a crowd-sourcing inspired Internet platform where homebuyers can supplement their down payments and homeowners can access home equity without additional borrowing.
via Start-Up Seeks to Reinvent Home Equity Sector | Mortgage News | Daily National and State Headlines.