In November 2024, a provision in the Economic Development bill (Section 269) created a dangerous loophole for homeowners by granting a blanket waiver of liability for non-profit Shared Appreciation Mortgages (SAMs), stripping away crucial consumer protections and leaving homeowners vulnerable to predatory lending practices. H.3954 / S.731 closes the loophole created by Section 269 and…
With the assistance of Gupta Wessler, we filed for leave to file an amicus brief in Weingot v. Unison Agreement Corp. (E.D.N.Y.) to assist the court in reaching a decision on the first case involving a home equity investment loan to reach summary judgment. The brief provides background on Unison’s business model and support for…
Read More about Amicus Brief: Weingot v. Unison Agreement Corp. et al.
The Mortgage Conference in Los Angeles, California features expert-led sessions on the fundamentals of mortgage law and the latest updates on foreclosure prevention policies and practices.
NCLC will pursue common-sense regulatory and legislative reforms to ensure fairness, fight fraud, and protect consumers in 2025.
The time has come for policymakers to protect homeowners from the risks this product poses and those who may abuse it. HEI loans are really just another form of mortgage and should be regulated like other forms of mortgage credit.
This report covers the ways that financial institutions across the financial services industry serve, or fail to serve, people with limited English proficiency.
