|
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. Ideally Poised amid Potential Shifts in Marijuana Jurisprudence
October 28, 2022
REZYFi, a growth mortgage origination and specialized financing company focused on the cannabis industry, is positioned to benefit from recent efforts in the U.S. with respect to marijuana. “In what pundits describe as a move to follow through on some of his campaign promises, the President announced a blanket federal pardon for people incarcerated for marijuana possession. Biden also tasked the Health Secretary and Attorney General with initiating a process that could culminate in
the rescheduling of marijuana, which is currently classified as a Schedule 1 drug, a category supposedly meant for substances with a high potential for abuse and no accepted medical use. Multiple analysts reckon that the move… could drive a renewed push for federal marijuana reform. Though not a decriminalization, the rescheduling would be a win for the industry, according to executives, as it would remove the issues associated with the enforcement of Section 280E of the Internal Revenue
Code,” reads a recent article. “The announcement and the resulting process, which are set to benefit companies like REZYFi, arrive at a time when both Congress and the Senate are working on marijuana reforms. (The Senate, in particular, is poised for the first time to be able to move on Congressional action, according to Oregon’s 3rd District Representative Earl Blumenauer.) Last fall, the U.S. House of Representatives passed the Secure and Fair Enforcement (‘SAFE’)
Banking Act of 2021 for the fifth time since its introduction in 2013. The House also passed the Marijuana Opportunity Reinvestment and Expungement (‘MORE’) Act this spring. And although both bills are yet to pass the Senate or receive presidential assent, they are poised to enrich the marijuana jurisprudence if and when they do.”
To view the full source article, visit: https://ibn.fm/Hq7C5
|
|
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.
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.cannabisnewswire.com/disclaimer/
|
