OwnEZ is a U.S. based Prop-tech company that provides home loans to
prospective home buyers in the U.S., many of whom are credit invisible or
unscorable. The underwriting process created by OwnEZ uses a proprietary
algorithm that grades the level of risk of the borrower according to financial,
demographic, and social demographic parameters. The Fund has an
exclusive agreement with OwnEZ that enables it to leverage the company’s
underwriting and scoring processes to create a diversified portfolio of loans
All prospective borrowers are Individuals or families who can afford
making a significant down payment and monthly home payments but
are shut out of the conventional lending system. Most of them are first
and second-generation migrant workers, who due to a lack of Social
Security Number or low past credit usage, cannot meet the initial
qualification requirements for receiving a conventional mortgage from
traditional banks. Hence, they are forced to become “chronic renters”.
According to the OwnEZ model, the borrowers are given the unique
opportunity to purchase a residential home for an amount slightly higher than
the monthly rental payments that they are used to paying for a similar asset.
In effect, the loan repayment becomes the substitute for their rental
payments with the added benefit of accumulating equity and building their
own family wealth.
The loans are provided by the Fund solely for the purpose of financing
homes for the residence of the borrower’s family. OwnEZ holds title to the
asset or rights of ownership on the asset (depending on the specific state
regulations). In the event of default by the borrower, the company will act
to realize the asset, usually resulting in favorable returns for the investors.
The Investors are entitled to early redemption and repayment of their
investment amount and any relevant proceeds attached to it, if any,
according to the Fund’s terms and conditions
No! there is a huge secondary loan market in the U.S. for mortgage
trading. The intention of the Fund is to sell or securitize the loans as
a whole portfolio or in part, after a seasoning of 20-60 months.
