San Francisco real estate investment platform Income& has been selected as one of 24 startups to participate in the sixth Plug and Play Fintech Accelerator; the Plug and Play Fintech Accelerator is a 12-week accelerator program that provides for access to Plug and Play's extensive network of leading banks and financial institutions; the Plug and Play Fintech accelerator will support the development of Income&'s Prime-Rated Individual Mortgage-Backed Obligation (PRIMO™) product which is broadening fixed income investment alternatives by providing a product that allows investors to invest in portions of secured mortgage loans. Source
Income& has developed a new real estate investment product, the Prime-Rated Individual Mortgage-Backed Obligation (PRIMO) and is one of LendIt's finalists for the 2017 Emerging Real Estate Platform award; the product allows investors to invest in secured mortgage loans and targets yields of 6% or more; it is open for investment to accredited investors and investment advisers and the firm also has plans to offer the product to all investors. Source