Insight
States are taking differing approaches to HEI regulation, with some classifying HEIs as mortgages, and others considering separate licensing systems.
As HEI regulations expand, states debate loan classification
Summary
States are grappling with regulating Home Equity Investment (HEI) products, impacting homeowners and providers like Unison. Consumer protection, particularly around disclosures, is a central focus. Lawmakers and regulators are establishing clear definitions and oversight with measures such as counseling requirements and possible legal representation during the process. Federal oversight remains uncertain, with states leading regulatory changes.
Key takeaway