Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 2

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 2
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 to more easily access mortgage lending using our online portal and services. In 2024, approximately
59% of the loans Beeline originated and brokered through December 31, 2024, were Non-QM loans where the consumer, for example, lacked
traditional income from full-time employment in contrast to investment, rental income or other 1099 income or where the consumer has sufficient
assets to support the loan.

Beeline primarily serves as the lender for its conventional
loans, where it is also fully responsible for the underwriting. Beeline is the lender on a non-delegated underwriting basis on most of
its Non-QM loans. Beeline also serves as a mortgage broker for certain loans with third party lenders - primarily for the remainder of
Non-QM loans. In 2024, Beeline has acted as lender in 62% of its loan transactions, and as mortgage broker in 38% of its loan transactions.
Beeline leverages its industry-specific knowledge and infrastructure, using a combination of licensed and proprietary technology, to provide
an alternative to a more manual, non-technology focused lending process for residential properties in the United States.

4

Beeline’s Mortgage Lending Business

Beeline is licensed to operate in 28 states including
California, Florida and Texas. Beeline’s services and platform are designed to address the evolving US real estate market, including
the increasing use of online and digital means of financing access as well as a trend away from conventional lending qualification practices,
in part by placing consumers in front of financing opportunities that may not be available from lenders using the conventional approach
to loan qualification processing. Its focus is on residential properties. However, a small portion of Beeline’s originated loans
(less than 10%) are for commercial properties.

Beeline can generate mortgage approvals that are more
reliable than traditional pre-approvals and in as little as 7 to 10 minutes. Beeline’s unique customer experience was built for
digital-first consumers and property investors who grew up in the gig economy and who desire a frictionless, digital experience. Beeline
offers a unique variety of mortgage products when compared to other mortgage lenders, including the “top 50” lenders, allowing
borrowers a higher probability of home ownership or to take cash out of their property through a refinance transaction.

Most top 50 lenders will deny a borrower if they are
not approved for a conventional mortgage backed by Freddie Mac or Fannie Mae, the two government-sponsored enterprises