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The Backstory Behind The First Really Innovative Loyalty Program In Years

Apr 16 2022

It turns out that redeeming points for a mortgage down payment may have been illegal and Bilt had to get explicit regulatory approval from the Federal Housing Administration. The specific sources of funds used for mortgage down payments are heavily regulated.

They got an explicit government no at first, before approval, and then they had to get landlords to sign on, and many were skeptical (more homeowners means fewer renters). And that was just the start, because they completely revamped their earning value proposition in the three months prior to launching last fall.

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