Home equity sharing agreements regulated by licensing requirements and disclosure obligations.

The bill regulates home equity sharing agreements, requiring originators to obtain a license and adhere to specific disclosure obligations. It mandates that originators provide homeowners with detailed information before entering into an agreement, including the projected final value of the property, the share of appreciation or equity the originator may receive, and a summary of the agreement terms. The bill also outlines licensing requirements, including background checks, fees, and surety bonds.

Home equity sharing agreements regulated by licensing requirements and disclosure obligations.

The bill regulates home equity sharing agreements, requiring originators to obtain a license and adhere to specific disclosure obligations. It mandates that originators provide homeowners with detailed information before entering into an agreement, including the projected final value of the property, the share of appreciation or equity the originator may receive, and a summary of the agreement terms. The bill also outlines licensing requirements, including background checks, fees, and surety bonds.