Cornerstone Financing, a venture co-founded by former Reverse Mortgage Funding (RMF) CEO Craig Corn, has secured $285 million in financing through global investment firms Aquiline Capital Partners LP and Nomura.

The funding will go to support the company’s specialty home equity-tapping product known as the Cornerstone Home Equity Insurance/Investment Funding Solutions (CHEIFS). The product operates similarly to a shared equity investment. It allows homeowners to sell a portion of their home equity for cash to specifically fund “insurance, annuities, long-term care, and other financial and life planning options,” the company said.

“Partnering with details ⇒

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