Helping homebuyers and homeowners to liberate themselves from debt, and embrace wealth creation.
SAN JOSE, CA (PRWEB) October 16, 2017
EquiFi Corporation, PBC announced that it has acquired competitor Vistia Group LLC. EquiFi is organized as a Public Benefit Corporation with operations in San Jose, CA, New York, NY, and Washington D.C. Vistia is based in New York City, and both organizations co-invest with homebuyers and homeowners to provide a non-debt choice for home financing. The deal marks the first such transaction in the burgeoning shared appreciation sector.
EquiFi Founder and CEO David Shapiro called the acquisition highly synergistic. “EquiFi is revolutionizing the way people approach home financing, wealth creation, and wealth management” said Shapiro. “Given our shared vision, we’ll be able to achieve greater scale, and a larger audience through this acquisition.” Shapiro declined to disclose financial terms of the agreement.
Steven Coulis, the founder of Vistia, has transitioned into senior management at EquiFi, based in New York. Coulis began Vistia in early 2016 after 9 years in the hedge fund and capital markets industry. Coulis explains that “the residential real estate market is completely debt-driven, which creates inefficiencies and hidden risks. EquiFi’s solution promotes sustainable and risk-balanced homeownership, both for purchasers and current owners. The opportunity for value-creation is enormous.”
EquiFi’s first product, the Equity Funding Instrument (EFI™), allows homeowners to purchase a home with lower monthly mortgage payments. The EFI is also offered as an alternative to both reverse mortgages and home equity loan products. In all cases, the equity investment provided by EquiFi has no monthly payment and no calendar date for repayment, and the homeowner shares a portion of the home price appreciation with EquiFi when a terminating event occurs.
EquiFi distributes its solution banks, mortgage originators, broker dealers, financial advisors, and through corporations offering the EFI as an employee benefit. These institutions will be offering EFIs in early 2018. For more information visit http://www.equifi.com.
VP, EquiFi Corporation