NUVA Brings U.S. Mortgage Credit to Offshore Investors

NUVA, a real-world asset marketplace created by Animoca Brands and Nuva Labs, has launched an ERC-20 token called HOME that provides eligible non-U.S. investors with exposure to a managed pool of U.S. home equity lines of credit (HELOCs). The product allows participation starting at 1 USDC and targets a 7% annual return, reset monthly.

The token gives holders exposure to a pooled investment vehicle that initially holds HELOCs originated through Figure Technology Solutions. According to NUVA, the vault's net asset value reflects interest income and loan performance, which determines the price of the token. The product offers withdrawals without a lockup, supported by a 5% liquidity sleeve and an estimated 5% first-loss equity buffer to absorb potential defaults.

Structure and Risk Parameters

The underlying portfolio targets HELOCs with an average FICO score of at least 735, a combined loan-to-value of no more than 69%, and a debt-to-income ratio capped at 40%. Geographic exposure to California is limited to 30%, with other states capped at 15%. Nuva Labs CEO Anthony Moro noted that while the structure includes a liquidity reserve and credit standards, HOME holders remain exposed to underlying credit and liquidity risks.

Access to the HOME token is restricted to eligible non-U.S. users, with jurisdictions including the U.K., Hong Kong, China, the British Virgin Islands, and sanctioned regions excluded. NUVA enforces these limitations through wallet screening and IP address blocking.

Key facts

• The HOME token targets a 7% annual return, reset monthly.
• Minimum investment starts at 1 USDC for eligible non-U.S. users.
• The initial portfolio relies on HELOCs originated through Figure Technology Solutions.
• A 5% first-loss buffer and a 5% liquidity reserve are built into the vault structure.