The expansion adds products including residential transition loans, construction and builder financing, multifamily lending, home equity lines of credit (HELOCs) and second-lien strategies. The investments will flow through CrossCountry Capital (CCC), a subsidiary launched in 2022 that currently manages $7 billion in loans. CCC's nonagency securitization program has attracted more than 50 institutional investors. Ron Leonhardt, who founded the Ohio-based CCM in 2003, said the asset management arm supports the company's origination business by allowing it to capitalize on the current market environment.
When taking out a HELOC, customers can access up to 80% of their home's value without altering their current mortgage rate, providing customers with an efficient way to turn their equity into funds. As home valuations reach historic highs, homeowners are looking for more options to tap into their home's equity. We're proud to offer customers the ability to secure a HELOC through Chase, said Erik Schmitt, digital channel executive at Chase.