Beeline Financial’s Non-QM Lending Business Up for Sale
Beeline Financial Holdings, known for its non-QM loans and services, has recently merged with Eastside Distilling. The merger, as outlined in Eastside’s SEC filing, signals a move into digital lending. While exact financial details were not disclosed, the union between these two companies is poised to make waves in the financial services sector.
Established in 2019, Beeline specializes in non-QM lending, focusing on borrowers with unique income or asset profiles that may not fit the traditional lending mold. Operating in 28 states, including California, Florida, and Texas, the company offers residential and commercial lending options, with a significant portion of its business coming from non-QM loans.
In addition to its lending activities, Beeline provides title and escrow services through two title agencies. Their digital platform utilizes artificial intelligence to enhance borrower interactions and decision-making processes.
Revenue sources for Beeline come from a variety of channels, including loan sales, title and escrow service fees, and origination fees. Looking ahead, the company plans to license its software to other mortgage lenders starting in 2025 and expand its reach into commercial real estate markets.
Despite its strengths, Beeline faces stiff competition from industry titans like Rocket Mortgage and Better.com. Adherence to consumer financial protection laws and compliance regulations further adds to the challenges within the industry.
This strategic merger aligns with Eastside Distilling’s vision to diversify its portfolio and venture into financial services. While primarily known for its beverage business, Eastside saw the acquisition as an opportunity to leverage Beeline’s expertise in non-QM lending and digital solutions.
In a statement regarding the merger, Eastside acknowledged the move’s significance in expanding its digital lending platform and driving continued growth and innovation. This partnership represents a step forward in shaping the future of financial services for both companies. Stay tuned for further updates and industry insights by subscribing to receive our free daily newsletter.
