Frequently Asked Questions

PRIMOs are a new kind of investment for people looking for fixed-income opportunities that generate higher returns with lower risk. Because they’re new, you may have questions about investing in PRIMOs. The FAQs below should answer most questions. 

But if it’s still unclear, please call us. We’re happy to answer any additional questions you have.

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What is Income&?

Income& is a platform where accredited investors, investment advisors, and institutions can invest in securities (PRIMOs). Each PRIMO is backed by a single, high credit-quality residential mortgage loan.

What is a PRIMO?

A PRIMO is a security backed by a single, high credit-quality residential mortgage. Investors receive their pro rata share of the principal and interest payments for any PRIMOs they own.

Who is the team behind Income&?

Income& has a strong executive team with deep executive level experience in financial services, banking and consumer products at companies like PENSCO Trust, Fisher Investments, Charles Schwab, Visa, Charles River and Prosper.

Are PRIMOs secured?

Each PRIMO is backed by a single, high credit-quality residential mortgage, and that mortgage is secured. In the event that the borrower misses payments, the underlying property can be foreclosed upon and PRIMO holders would receive a pro rata share of the sale proceeds.

Can I see details for each PRIMO?

Yes! You can view the underwriting characteristics of each mortgage backing a PRIMO, including the borrower’s FICO score, down payment, ability to repay, property type, metro area, and many other details.

What are the basic PRIMO standards?

Following are the key minimum standards for the mortgages that back PRIMOs:

• Fully amortizing mortgages

• Fixed rate and 5 or 7 year ARMs (adjustable rate mortgages)

• No interest-only, balloon payment, teaser rate or negative amortization features

• Minimum borrower FICO of 680

• Minimum 20% down payment and/or equivalent Private Mortgage Insurance (PMI) (Maximum loan-to-value (LTV) ratio of 80% after including PMI if any)

• Maximum borrower debt-to-income (DTI) ratio of 43% (Some exceptions for high net worth borrowers allowed, but these exceptions are always disclosed on our website)

• First lien only

How can I diversify my portfolio of PRIMOs?

You can purchase small increments of all PRIMOs across our platform in a few clicks, or select PRIMOs by filtering by PRIMO Rating: A, AA, or AAA. If you prefer you can also review and choose each PRIMO individually.

Does Income& make loans to borrowers?

No, Income& does not make loans to borrowers. We partner with mortgage lenders to source the loans that back PRIMOs.

Are there any fees associated with purchasing PRIMOs?

The Platform Fee for PRIMOs is deducted each month from the monthly interest paid by the mortgage borrower. All investor returns shown are net of any fees. Income& is committed to transparency and these fees are clearly shown in our investor account statements.

How does Income& choose which loans to acquire?

Income& provides mortgage lenders with our strict minimum standards. These lenders provide us with loans that meet or exceed those minimum standards. We then review the loans, both internally and with a third party, to ensure the loans were underwritten to our standards. A third party also validates that the property valuation is correct. If the loans meet our strict standards, we turn them into PRIMOs.

Can I sell my PRIMOs?

PRIMOs are designed for investors who are looking for long-term fixed-income. Income& (or its affiliates) may buy back your PRIMOs when capital is available, but we cannot guarantee liquidity.

Can I use my retirement account to invest in PRIMOs?

Yes, you may use an IRA account to invest in PRIMOs. Please call us at 415-992-6667 or email support@incomeand.com and we’ll help you get set up.