"Tacora is targeting segments of the mortgage market that remain underserved by traditional bank and securitization channels. This gap has widened as nonbank lenders now originate the majority of U.S. mortgages."
"The proliferation of new ways to structure and service mortgages have increased complexity, precipitating opportunities to identify and capture the mispricing of real estate-linked assets."
"The REIT seeks to deliver capital appreciation, stable cash flow and capital preservation in a variable rate environment by combining exposure to MSRs and home equity."
Tacora has agreed to purchase up to $300 million in home equity investments from Point, a fintech company. Home equity investments face scrutiny from regulators and legal challenges regarding their classification. Findley, a board member at Point, has extensive experience in structured credit and nontraditional credit markets. Tacora aims to target underserved mortgage market segments as nonbank lenders dominate. The company seeks to leverage complex mortgage structures to identify mispriced assets and improve servicing, aiming for capital appreciation and stable cash flow in a variable rate environment.
Read at www.housingwire.com
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