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Maine

As HEI regulations expand, states debate loan classification

Home Equity, HWmember, Illinois, Maine, Mayer Brown, Mortgage, Regulatory, Regulatory Compliance, Reverse /

As states take varying approaches to regulating home equity investment (HEI) products, the industry faces an increasingly fragmented legal landscape shaped by consumer protection concerns and uncertainty over whether the products should be treated as mortgage loans. Under an HEI, homeowners receive upfront cash in exchange for a share of the home’s future value, typically […]

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Maine enacts first state law to regulate home equity investments

Home Equity, HWmember, Legislation, Maine, Mortgage, National Consumer Law Center, Reverse /

Maine Gov. Janet Mills this week signed LD 1901, making Maine the first state to enact comprehensive consumer protections for home equity investments (HEIs), which the new law defines as “shared appreciation mortgage loans.” The bill, titled “An Act to Regulate Shared Appreciation Agreements Relating to Residential Property,” establishes guardrails around a growing class of

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Maine bill targets MIP costs, lower rates for homebuyers

Housing affordability, Housing markets, Maine, Mortgage insurance, Politics and policy /

A Maine real estate agent is proposing a bill that would give homeowners a state tax deduction on mortgage insurance premiums as well as offer grants to help lower loan payments.  Processing Content Introduced by Democratic Rep. Wayne Farrin, who is also a licensed real estate agent, the bill would lead the state to implement

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Maine Listings unveils new logo in rebrand effort

HWmember, Maine, MLS, MLS/Associations, Real Estate /

One of the nation’s oldest MLSs has a new brand identity. On Monday, New England-based Maine Listings unveiled its new brand identity, which features a revamped logo.  The rebranding efforts were facilitated by marketing firm WAV Group.  The MLS said the rebrand is part of a larger initiative to demonstrate Maine Listings’ role as a

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