Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Debate over shared‑equity home investments pits industry innovation against consumer protection
Summary
Industry coalition backing H.1106/S.705 urged a tailored regulatory framework for shared‑equity home‑investment products; opponents, including the Attorney General’s office and consumer advocates, warned these contracts can behave like disguised mortgages that strip homeowners of equity and increase foreclosure risk.
Two separate but related categories of legislation drew sustained debate: H.1106 / S.705, which would create a regulatory regime for “home equity investment” (HEI) or shared‑equity products, and H.1145 / S.731, framed by consumer advocates as a bill to regulate certain mortgages and protect homeowners from predatory shared appreciation arrangements.
Industry witnesses — including Jeffrey Glass, CEO of Hometap, and representatives of Point Digital Finance and Unlock Technologies — said shared‑equity products give homeowners non‑debt options to access home value without monthly payments. They asked the committee for licensing, price caps, plain‑language disclosures, underwriting…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
