BOXABL signs letter of intent with Warp Speed Holdings to introduce new home financing options

BOXABL believes integrated financing could reduce financing-related delays and help convert prospective buyers into qualified purchasers.

Rhea-AI Summary

BOXABL (Nasdaq: BXBL) has signed a nonbinding letter of intent with Warp Speed Holdings to form a mortgage lending joint venture. The proposed platform would integrate financing into BOXABL's purchase process, with an early 2027 launch targeted. Warp Speed Holdings has more than $2 billion in assets across its businesses and affiliates.

BOXABL expects a definitive agreement in the coming weeks, subject to completing negotiations. The platform remains subject to definitive agreements and regulatory requirements; loan options also depend on product development, geographic availability, underwriting and approvals. Plans include construction-to-permanent loans and buyer rate buydowns. The proposed business would pursue mortgage origination revenue and income from retaining selected qualifying loans, subject to capital availability and risk management.

5 points · 0 major

MixediHow this balance works

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

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0 major · 5 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.The proposed mortgage lending joint venture would integrate financing into BOXABL's purchase process.
• Minor point. Forward-looking: it has not happened yet and may not happen.BOXABL believes the initiative could support increased home sales and reduce financing-related delays.
• Minor point. Forward-looking: it has not happened yet and may not happen.Planned construction-to-permanent loans and rate buydowns would expand financing options for BOXABL buyers.
• Minor point. Forward-looking: it has not happened yet and may not happen.The proposed business would pursue mortgage origination revenue and portfolio lending income from selected retained loans.
• Minor point. Forward-looking: it has not happened yet and may not happen.The companies are targeting an early 2027 launch focused initially on BOXABL purchases and construction lending.

Negative

• Moderate pointThe letter of intent is nonbinding; no definitive joint venture agreement has been announced.
• Minor pointThe proposed platform remains subject to regulatory requirements.
• Minor point. Forward-looking: it has not happened yet and may not happen.Loan options depend on product development, geographic availability, underwriting and approvals.
• Minor point. Forward-looking: it has not happened yet and may not happen.Retaining selected qualifying loans is subject to capital availability and risk management.
• Minor point. Forward-looking: it has not happened yet and may not happen.Actual returns depend on market conditions, funding costs, credit performance, transaction structure and execution.

Key Figures

Warp Speed Holdings assets: More than $2 billion Target launch: Early 2027

Warp Speed Holdings assets

More than $2 billion

Assets across the lender's businesses and affiliates

Target launch

Early 2027

Proposed mortgage lending joint venture

Key Terms

mortgage origination, portfolio lending, construction-to-permanent loans, underwriting

4 terms

mortgage origination financial

"both mortgage origination revenue and portfolio lending income"

Mortgage origination is the process by which a lender creates and issues a home loan, from taking the borrower's application through approval, pricing and funding. Investors care because origination volume and quality drive lenders’ revenue and risk exposure—think of it like a shop making and selling a product: more sales and better products boost profit, while many risky or low-margin loans can hurt earnings and increase potential losses, and both reflect housing and interest-rate trends.

portfolio lending financial

"portfolio lending income from retaining selected qualifying loans"

Portfolio lending is when a lender keeps loans on its own books instead of selling them to other investors, meaning the lender carries the interest payments and credit risk directly. For investors, this matters because it influences a lender’s profit stability, balance-sheet risk and liquidity — like a shop that chooses to hold and manage its own stock rather than reselling it, which can boost returns but also concentrate losses if customers don’t pay.

construction-to-permanent loans financial

"including construction-to-permanent loans, intended to cover land purchase"

A construction-to-permanent loan is a single financing arrangement that covers both the cost to build a property and the long-term mortgage that replaces that short-term construction financing once the build is complete. During construction the lender advances funds in staged draws and the borrower typically pays interest (often only on drawn amounts); after final inspection and project completion the loan converts into a permanent, amortizing mortgage without a separate closing, using the original approval and terms subject to any contingencies set by the lender. This differs from a standalone construction loan followed by a separate mortgage because it combines underwriting, one set of closing costs, and a planned automatic conversion into long-term financing.

underwriting financial

"geographic availability, underwriting and approvals"

Underwriting is the process where a financial institution agrees to buy and then resell new stocks or bonds to investors. It matters because it helps companies raise money quickly and smoothly, while the bank takes on the risk of selling those securities at the agreed price. Think of it like a booker guaranteeing to sell all tickets for a concert before opening the doors.

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Proposed joint venture with a lender with more than $2 billion in assets under management aims to expand construction financing options and support home sales, targeting an early 2027 launch

LAS VEGAS, Nov. 10, 2026 /PRNewswire/ -- BOXABL Inc. (Nasdaq: BXBL), an innovative technology company transforming the housing market with its modular building systems, today announced it has signed a nonbinding letter of intent to form a mortgage lending joint venture with Warp Speed Holdings, an established institutional lending partner.

Warp Speed Holdings brings experience in mortgage origination, construction financing, capital markets and portfolio lending with more than $2 billion in assets across its businesses and affiliates.

Why it matters: Financing can be a significant obstacle for buyers of factory-built and modular homes. Traditional mortgage programs are often built around site-built construction and may not fit accessory dwelling units (ADUs), land purchases, site preparation or the stages of factory production and installation.

Cost and financing are among the top barriers named by homeowners. In a Los Angeles County survey of homeowners who had already built ADUs, 58% said obtaining financing was an obstacle. None reported securing a bank construction loan. Most relied on refinancing (73%), cash (50%), or both — owners could use more than one source. In another regional survey, 51% of respondents named construction cost or financing as a leading obstacle to adding an ADU. A 2021 University of California, Berkeley survey of California ADU owners, cited in a 2022 Terner Center for Housing Innovation paper, similarly found heavy use of cash and home equity products among owners who succeeded in building.

Even with financing challenges, the ADU market has seen significant growth. For instance, data reported to the California Department of Housing and Community Development identifies that California jurisdictions issued about 9,000 ADU permits in 2018 compared to roughly 42,000 in 2025. An alternate count that removes duplicate records puts 2025 nearer 32,000, which still represents significant growth.

The proposed venture would build financing into BOXABL's purchase process, part of the company's previously announced vertical integration strategy. BOXABL believes the initiative could help turn more prospective buyers into qualified purchasers, reduce financing-related delays and support increased home sales.

The letter of intent builds on BOXABL's mergers, acquisitions and partnerships initiative, announced in August, which named lending and finance providers built for factory-built housing among the partners the company was seeking.

Key details: Subject to definitive agreements and regulatory requirements, the proposed platform is expected to offer:

• Multiple construction loan options, subject to product development, geographic availability, underwriting and approvals.
  
  
• Earlier financing in the BOXABL purchase process, so customers can better understand their borrowing capacity, estimated payments and financing options before they buy.
  
  
• Tailored structures, including construction-to-permanent loans, intended to cover land purchase, site improvements, manufacturing, delivery, installation and permanent mortgage financing, as applicable.
  
  
• Rate buydowns for buyers.
  
  
• Financing for a range of customers, potentially including homeowners adding a Casita as an ADU, buyers building a primary residence, investors, builders and developers.

The opportunity: The venture is also intended to build a financial services business that could grow alongside BOXABL's housing operations. The proposed model would pursue both mortgage origination revenue and portfolio lending income from retaining selected qualifying loans, subject to capital availability and risk management. Actual performance and returns will depend on market conditions, funding costs, credit performance, transaction structure and execution.

"Financing can be one of the hardest parts of buying a factory-built home, and we want to make it as simple as building one," said Galiano Tiramani, co-founder and co-CEO of BOXABL. "Bringing financing into the BOXABL buying process, with multiple loan options planned, is the next step in our vertical integration strategy."

What's next: BOXABL expects to announce a definitive agreement with Warp Speed Holdings, with details on the structure, financing products and rollout, in the coming weeks, subject to completing negotiations. The companies are targeting a launch in early 2027, initially focused on financing within BOXABL's purchase process and construction lending programs.

No definitive joint venture agreement has been announced, and there can be no assurance the transaction will be completed on the proposed terms or timetable.

About Warp Speed Holdings

Warp Speed Holdings is a diversified holding company with 24+ businesses and affiliates spanning Lending, Technology & AI, Insurance, Real Estate Development, Title & Escrow, Accounting & Tax, Recruiting & Staffing, Marketing, Service Providers, and more. They drive innovation through strategic partnerships and acquisitions.

About BOXABL

Since its founding in 2017, BOXABL has raised more than $230 million from more than 50,000 investors. The North Las Vegas-based company is working to transform the housing industry through innovative technology and design, with a mission of making housing affordable at mass-production scale. BOXABL's flagship product, the Casita, is a 361-square-foot studio unit with a full kitchen, bathroom and utilities that unfolds on-site in under an hour. The company also offers the smaller, 120-square-foot Baby Box and is developing stackable and connectable modules designed to form townhomes, multifamily units and larger single-family homes. BOXABL began trading on the Nasdaq Stock Market under the ticker symbol "BXBL" on July 20, 2026, following completion of its business combination with FG Merger II Corp.

This communication includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may be identified by words such as "plan," "project," "will," "estimate," "intend," "expect," "believe," "target," "continue," "could," "may," "might," "possible," "potential" or "predict" or similar expressions that predict or indicate future events or trends or that are not statements of historical fact. These statements are based on current expectations and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially, including those related to the completion of definitive agreements for the proposed mortgage joint venture; the expected timing of its launch; the availability of any particular loan program; applicable licensing and regulatory requirements; the expected effects of the venture on BOXABL's home sales; the financial performance of the venture; state and local regulatory and site approvals, and BOXABL's financial condition and liquidity, as well as the other risks described in BOXABL's filings with the U.S. Securities and Exchange Commission. BOXABL undertakes no obligation to update these statements except as required by law.

For more information about BOXABL and its innovative products, visit www.boxabl.com.

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SOURCE Boxabl

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When is BOXABL's proposed mortgage lending venture with Warp Speed Holdings expected to launch?

The companies are targeting a launch in early 2027, initially focused on financing within BOXABL's purchase process and construction lending programs. The letter of intent is nonbinding, and no definitive joint venture agreement has been announced.

What financing would BOXABL's proposed joint venture offer?

The proposed platform is expected to offer multiple construction loan options, including construction-to-permanent loans, and buyer rate buydowns. Loan availability remains subject to product development, geography, underwriting and approvals, while the platform itself requires definitive agreements and regulatory compliance.

Who could use financing from BOXABL's proposed mortgage venture?

Potential customers include homeowners adding a Casita as an accessory dwelling unit, buyers building a primary residence, investors, builders and developers. The proposed customer scope is not a commitment to provide financing; loan options remain subject to underwriting and approvals.