Point on Tuesday announced the launch of a third-party origination (TPO) channel for its home equity investment (HEI) product, expanding distribution through mortgage brokers as the company looks to broaden access to home equity without traditional monthly payments.
The new channel will be led by Samuel Bjelac, a mortgage industry executive with more than 20 years of experience across wholesale, correspondent and non-QM lending. Mortgage professionals will now be able to broker Point’s HEI product, the company confirmed in its release.
Bjelac, who will serve as Point’s head of wholesale, most recently served as senior vice president of national sales and TPO at Foundation Mortgage Corp. He has also held leadership roles at Carrington Mortgage Services, Sprout Mortgage, CoreVest Finance and Flagstar Bank.
Founded in 2015, Point has reportedly funded more than $2.5 billion in HEIs and worked with more than 25,000 homeowners. The company said the new origination channel will allow it to partner directly with established broker networks and expand the availability of its equity-sharing product.
“Launching a third-party origination channel is a natural extension of Point’s vision to make homeownership more valuable and accessible,” said Eddie Lim, co-founder and CEO of Point. “Samuel’s record of developing scalable sales organizations, opening new distribution channels, and accelerating adoption will ultimately make it possible for Point to help more homeowners access their equity when they need it most.”
Bjelac said Point’s HEI product offers homeowners a way to access equity without taking on additional monthly debt obligations.
“Launching this product into the third-party origination market allows us to deliver that solution to more homeowners through trusted broker partners,” he said.
Point’s move into the third-party origination space comes just days after GO Mortgage debuted its own TPO channel built on a new wholesale platform.
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