ValueInsured Closes Financing Led by Global Reinsurer

Real Estate Weekly News

By a News Reporter-Staff News Editor at Real Estate Weekly News -- ValueInsured, the only provider of down payment protection, announced the closing of $6.5M of funding led by an affiliate of Everest Re Group Ltd. and also Houston International Insurance Group (HIIG). The latest round of funding from Everest Re and HIIG builds on their existing partnerships with ValueInsured, which began in 2014 with an initial $6M seed round. This additional investment provides ValueInsured with the growth capital to continue its aggressive distribution partnership strategy, expanding channel presence and enhancing the features of the +Plus SM down payment protection program.

"We are thrilled to be building on our longstanding partnerships with Everest, a global reinsurer and HIIG, a prominent domestic property and casualty underwriter," said Joe Melendez, CEO of ValueInsured. "This added support will allow us to deliver down payment protection to more mortgage originators and, most importantly, more homebuyers, providing them peace of mind amid unpredictable, negative changes in the housing market."

"Having seen substantial growth, we are excited to take our relationship with ValueInsured to the next level and provide additional capital to further expand their delivery of +Plus down payment protection nationwide," said John Doucette, President and CEO of the Reinsurance Division of Everest Re Group, Ltd.

"ValueInsured has delivered a truly innovative product and we're proud to be partnering with them to help make this next generation mortgage product more accessible to homebuyers nationwide," said Stephen L. Way, CEO of HIIG.

This new agreement marks a significant development, which comes as ValueInsured continues to attract more lenders to offer +Plus down payment protection which is currently available nationwide in conjunction with a network of select retail loan officers, correspondent lenders and wholesalers.