SAN FRANCISCO – November 16, 2017 – Unison Home Ownership Investors, the leading provider of home ownership investments, today announced multiple promotions and additions to its management team and substantial 2018 expansion plans in response to extraordinary growth in transaction volume and other successes during the first ten months of 2017.
In 2017, Unison expanded into five additional states including Illinois, New York, Arizona, New Jersey and Pennsylvania, bringing its total footprint to twelve states plus Washington D.C. Unison expects to further its footprint dramatically over the course of 2018 to over 70 percent of U.S. single family residential housing units. Unison has also processed over 14,000 consumer inquiries for its flagship programs: HomeBuyer, which increases housing affordability and purchasing power, and HomeOwner, which allows existing homeowners to unlock a portion of their home equity without borrowing. With both programs, the consumer can use the money provided by Unison for up to 30 years without interest or monthly payments. As partners, Unison and the homeowner share in the change in value of the property, up or down, when the homeowner decides to sell.
In addition, Unison has made significant additions to its network of partnering lenders and real estate brokers, and introduced a new suite of tools which make it easier for them to offer Unison’s compelling down payment solution to deserving buyers, especially millennials who face difficult financial challenges.
“We are extremely proud of what we have accomplished this year and are eager to move into 2018 with great momentum,” said Thomas Sponholtz, chairman and CEO, Unison. “Our programs are poised to help thousands of people nationwide; our tools and team are stronger than ever and we have high expectations for the future based on the solid foundation we have built as a company.”
To carry this growth trajectory into 2018 and beyond, Jim Riccitelli has assumed the role of President focusing on facilitating Unison’s rapid expansion and supporting Unison’s trademark focus on consumer education and financial literacy. Bill Walker and Brian Elbogen, former Managing Directors, have been promoted to Chief Revenue Officer and Chief Strategy Officer; respectively, Laura Wensley has been brought on as Director of Finance, Rayan Rafay has been promoted to Chief Operating Officer of Unison’s investment management business, General Counsel John Arens has taken on additional responsibilities as Managing Director of Business Operations, and Heather Phillips has joined as Associate General Counsel.
Earlier this year, Unison was recognized as a leader in today’s financial technology space by winning three Benzinga Global Fintech Awards, and the FinovateSpring ‘Best of Show’ Award. GoBankingRate included Unison on its list of ‘Startups to Watch in 2018’ and Bank Innovation added Sponholtz and Riccitelli to its list of ‘Most Innovative CEOs in Banking.’ In addition, the company raised over $300 million in total investment capital, experienced significant growth in headcount and added industry veteran, Ron Suber, as an investor and strategic advisor. The company will also launch additional products and expects to grow origination volume by over 500 percent next year.