In a strong response to Maine’s passage this week of new regulations for home equity investment (HEI) lending products, the Coalition for Home Equity Partnership (CHEP) called out the state’s financial regulators for what it claims was a “misguided, rushed process” that ignored collaborative industry efforts and will result in less consumer choice.
“The reality is that a growing number of homeowners are equity-rich but have few options for tapping into that wealth to help address the many competing financial priorities they are facing,” said Cliff Andrews, president of the trade group, which was launched in 2024 by Hometap Equity Partners, Point Digital Finance and Unlock Technologies, all leading home equity sharing contract originators.
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