Vaults.

Every Housd vault follows the same investment philosophy:

• Invest exclusively in institutional Residential Transition Loans.
• Partner with vetted lending originators.
• Diversify across multiple borrowers and properties.
• Generate yield through borrower interest payments.
• Maintain full transparency at the individual loan level.

Each vault is independently managed with its own investment strategy, liquidity profile, and risk parameters.

Housd supports multiple vault strategies designed for different investor objectives.

Residential Transition Loan Vault

Provides diversified exposure to short-duration, first-lien residential bridge loans originated by institutional lending partners.

Leveraged Credit Vault

Uses conservative leverage through approved lending markets to enhance returns while remaining within predefined risk parameters.

Liquidity Vault

Maintains idle capital and repayment proceeds to facilitate subscriptions, redemptions, and capital deployment.

Additional vault strategies will be introduced as new lending verticals and originators are onboarded.

Residential Transition Loan Vault

• Status: Live
• Underlying Assets: Residential Transition Loans
• Target Yield: 8.5–10% APR
• Average Duration: 6–18 months
• Collateral: First-lien residential real estate
• Primary Originator: Flipside Lending

Vault returns are generated from contractual interest payments made by borrowers.

Primary sources include:

• Interest income from Residential Transition Loans
• Origination and servicing economics
• Conservative leverage (where applicable)

Housd does not rely on token emissions, liquidity mining, or speculative trading strategies to generate yield.

Although Residential Transition Loans are naturally long-duration assets, Housd is designed to improve liquidity through multiple mechanisms.

Liquidity may be provided through:

• Scheduled redemption windows
• Vault liquidity buffers
• Secondary liquidity infrastructure
• Housd's exclusive liquidity partner (ODL)

The applicable liquidity model depends on the individual vault.

Redemption policies vary by vault.

Standard redemption process:

1. 1Investor submits a redemption request.
2. 2Shares are redeemed at the current Net Asset Value (NAV), subject to the vault's redemption terms.
3. 3Capital is distributed once sufficient liquidity becomes available.

Certain vaults also support early liquidity through Housd's secondary liquidity infrastructure.

Each vault clearly discloses all applicable fees before investment.

Typical fee categories include:

• Management Fee
• Performance Fee (where applicable)
• Early Redemption Fee (if applicable)

There are no hidden fees.

Each vault is valued using a Net Asset Value (NAV) methodology.

NAV reflects the total value of the underlying loan portfolio and is calculated using:

• Outstanding principal
• Accrued interest
• Cash balances
• Realized losses
• Outstanding liabilities

Vault shares are issued and redeemed based on the current NAV.

Every Housd vault operates within predefined risk limits.

Typical portfolio constraints include:

• Maximum Loan-to-Value (LTV)
• First-lien collateral requirement
• Diversification across borrowers
• Diversification across geographies
• Maximum exposure per originator
• Short-duration loan focus
• Continuous portfolio monitoring

Risk parameters are established before deployment and monitored throughout the life of the vault.

Historical performance is reported transparently for each vault.

Performance metrics include:

• Net Asset Value (NAV)
• Historical Yield
• Capital Deployed
• Outstanding Principal
• Average LTV
• Average Duration
• Default Rate
• Recovery Rate
• Total Interest Distributed

Historical performance does not guarantee future results but provides investors with a transparent view of portfolio performance over time.