|
|
News and publishing service
for cannabis related companies
|
|
LimeLight of The week is
REZYFi, Inc.
|
REZYFi, Inc. is a cannabis mortgage bank servicing the needs of both traditional and non-traditional consumers and businesses. Its target markets include licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based
financing and project-specific financings, such as solar installations and real estate development projects.
Headquartered in Miami, Florida, REZYFi operates through two wholly owned subsidiaries – REZYFi Lending, which primarily addresses emerging real estate-related financing opportunities, and ResMac Inc., the company’s traditional mortgage origination, correspondent and servicing operation. REZYFi is currently licensed in 34 U.S. states, with plans to expand to all remaining states later this year.
REZYFi is positioned as one of first cannabis mortgage bankers in the U.S., while most traditional lenders are still reticent to serve the state-licensed cannabis industry.
Operations
REZYFi Lending
REZYFi Lending leverages a wide network to offer options such as 15- and 30-year fixed-rate loans, FHA loans, VA loans, reverse mortgages, jumbo loans and adjustable-rate mortgages.
Looking ahead, the company expects increased funding in marketing and loan agents to drive significant origination growth over the next two years, further supported by the planned launch of a high-margin cannabis division later this year.
ResMac Inc.
ResMac has been in operation for 13 years, having closed more than 20,000 loans for more than 15,000 clients. The company expects to accumulate $285 million in retail origination in 2023, alongside $250 million in wholesale origination for the same period. ResMac is further targeting $600 million in origination through its mortgage correspondent operations for 2023.
Through its ResMac subsidiary, REZYFi operates as a direct lender and originator of residential mortgages, with active mortgage correspondent and mortgage servicing operations. Through its correspondent segment, ResMac primarily purchases and aggregates residential mortgages from trusted third-party originators.
The company intends to harvest the database of customers within its mortgage servicing operations as an essential source of additional growth, especially relative to the new alternative residential loan programs being offered.
Corporate Strengths
- Experience – REZYFi is led by a seasoned management team with significant expertise spanning a wide range of real estate and financing subsectors. The team also has extensive experience in the cannabis and hemp marketplace, which the company intends to leverage as it navigates the changing landscape of the cannabis industry while sourcing the best
opportunities in the sector.
- Network of Independent Brokers – Over the past five years, REZYFi has developed an extensive network of independent mortgage-related brokers and licensed loan officers. The company is currently training the network members on its new service offerings, with many already launching sales efforts. REZYFi believes this network will be a vital asset
moving forward as other firms in the sector terminate relationships in the face of slowing mortgage business in a rising interest rate environment.
- Proprietary Technology – REZYFi has invested heavily in designing, building and implementing proprietary automated/machine learning technology to shorten loan processing timeframes and increase efficiencies, allowing it to operate its legacy business at staffing levels meaningfully below those of its competitors.
Investment Considerations
- REZYFi Lending sees higher margin lending opportunities as well as significant market opportunity to provide the growing and underserved cannabis industry with financial services.
- ResMac forecasts $285 million in retail loan origination in 2023 and foresees strong growth opportunities.
- ResMac is on pace to originate $250 million in wholesale loan business in 2023, with its year-over-year credit facility increase expected to jump more than 300%.
- The company’s management team has more than 40 years’ experience in the mortgage and lending industry.
- REZYFi expects to operate nationwide by the end of 2022; it currently operates in 34 states.
Recent Coverage
InvestorNewsBreaks – REZYFi Inc. Positioned as One of the First Cannabis Mortgage Bankers in the US
September 30, 2022
REZYFi is a cannabis mortgage bank servicing the needs of both traditional and non-traditional consumers and businesses. The company is targeting markets that include licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based and project-specific financings – like solar installations and real estate development. “The company
is positioned as one of the first cannabis mortgage bankers in the United States, an arena where most traditional lenders remain reticent to serve state-licensed cannabis companies. To overcome many of the challenges that the companies in the cannabis industry face, REZYFi plans to utilize its corporate strengths to facilitate growth, namely experience, a network of independent brokers, and proprietary technology,” a recent article reads. “REZYFi operates through its two wholly owned
subsidiaries from its base of operations in Miami, Florida. The first, REZYFi Lending, primarily addresses the emerging real-estate related financing opportunities within the targeted industry. The second, ResMac Inc., is the company’s traditional mortgage origination, correspondent and servicing option.”
To view the full source article, visit: https://ibn.fm/equ4R
|
Receive SMS Text Alerts from CannabisNewsWire
Text "Cannabis" to 844-397-5787
(US Mobile Phones Only)
|
Featured Event
The High Lifestyle Show
10/7 - 10/9 – Boxboro Regency Hotel, Boxborough, MA
The HighLifeStyleShow will be a gathering of brands, dispensaries, distributors, growers, artists, performers and consumers to converge in the HighLifeStyle of B2B and B2C in a resort hotel conference setting with exhibitors, vendors, concerts, comedy, education, celebrities, socializing and networking.
With medicinal and recreational now accessible in Massachusetts for adults over 21, users have choices of where to purchase their products and will eventually choose their favorite brands and retail outlets just like with other consumer products. Most other canna events are only aimed at the “industry” involving manufacturers and medication. We expect to be a place for cannabis brands and dispensaries to market to reach potential customers and new business relationships.
Conference Highlights
- We will offer exhibitors and vendors a fun environment to meet qualified customers who are interested in canna related products, services and creative arts. There will be no THC products for sale on property.
- As a business conference, one of our goals is to have businesses, entrepreneurs and brands to be able to meet the distributors, retailers and consumers in an entertaining, safe environment. Retail distributors can promote their products and retail locations in order to compete to attract new customers. Artists can find new fans. Craft growers can network
to find supplies they may need to be an at-home botanist, or find outlets or job opportunities.
- As a LifeStyle conference, we will be showcasing all aspects of the canna inspired culture including health, wellness, music, art, clothing, literature, food, cultivation, supplies, medical, educational and ancillary aspects including cannabis weddings and travel.
- There will be two levels of participation involving access to indoor and outdoor activities. All attendees will be able to access all of the Exhibitors indoors and out.
Upcoming Events
|
About CannabisNewsWire (CNW)
CannabisNewsWire (CNW) is a multifaceted financial news and publishing company that delivers a new generation of social communication solutions, news aggregation and syndication, and enhanced news release services. Leveraging a professional team of journalists and writers, CNW introduces private and public companies to a wide audience of investors, consumers,
journalists and the general public via social media and a rapidly expanding network of over 5,000 key distribution outlets. Cutting through information overload, CNW's innovative and proprietary systems clearly and succinctly deliver its clients much needed visibility, recognition and brand awareness. CNW is where news, content and information converge.
|
Stay Informed
We will be posting information about the presenting companies as they take the stage.
|
Connect With Us
Follow us on social media for the latest news and information from our network of brands and clients.
|
|
|
CannabisNewsWire
303 S Broadway, Denver, CO 80209 (303) 498-7722 |
|