NUVA Launches HOME for Offshore Investors in U.S. Residential Credit
- U.S. HELOC balances increased by $13 billion in Q2, marking the 17th consecutive quarterly rise.
- HOME will be available only to eligible non-U.S. users, excluding regions like the U.K., Hong Kong, and China.
- The initial portfolio targets HELOCs with an average FICO score of at least 735 and a combined loan-to-value ratio of no more than 69%.
- Exposure to California is capped at 30%, while other states are limited to a maximum of 15%.
- Withdrawals can be requested anytime but may take about two business days to process.
NUVA’s HOME product aims to provide offshore investors access to U.S. residential mortgage credit by leveraging existing institutional demand for this asset class, which has seen consistent growth in HELOC balances.
With a focus on high-quality credit profiles, the first portfolio will include loans with strict criteria, reflecting the ongoing demand for secure residential financing options.(Source)
