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National Consumer Law Center

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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OCC escrow plan opposed by regulators, consumer advocates

Conference of State Bank Supervisors, HWmember, Mortgage, National Consumer Law Center, Office of the Comptroller of the Currency, Regulatory, Regulatory Compliance, Servicing /

State regulators and consumer advocates are pushing back against two proposals from the Office of the Comptroller of the Currency (OCC) that would expand banks’ authority over escrow accounts and assert that federal law preempts state rules that govern these accounts.  In a joint letter, the Conference of State Bank Supervisors (CSBS) and the American

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Despite new veteran partial claim bill, some advocates call for VASP revival

Department of Veterans Affairs, House of Representatives, HWmember, Legislation, Mortgage, National Consumer Law Center, National Fair Housing Alliance, Senate, Servicing, Veterans /

Housing issues for U.S. veterans continue to be a major topic of conversation among housing advocates and lawmakers. Despite Monday’s passage of a bill to establish a partial claim option for veterans, some are still calling for the reinstatement of the Veteran Affairs Servicing Purchase (VASP) program. VASP was started last year under the Biden

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