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Hometap

Judge blocks key Hometap defenses in Massachusetts HEI lawsuit

Home Equity, Hometap, HWmember, Lawsuit, Legal, Massachusetts, Reverse, Reverse Mortgage Daily /

A Massachusetts judge has barred home equity contract provider Hometap from arguing that state regulators previously approved or implicitly sanctioned the company’s business model — strengthening the attorney general’s consumer protection lawsuit against Hometap. In a Dec. 19 decision, Suffolk County Superior Court Judge Debra Squires-Lee ruled that such fairness-based arguments cannot be used to […]

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Hometap continues to fight ‘illegal reverse mortgage’ lawsuit in Massachusetts

Home Equity, Hometap, HWmember, Lawsuit, Legal, Massachusetts, Massachusetts Division of Banks, Reverse, Reverse Mortgage Daily /

A lawsuit filed earlier this year by the state of Massachusetts against home equity investment (HEI) provider Hometap is being allowed to proceed after a ruling in August by a Suffolk County Superior Court judge. And the parties made new filings in court last week as they attempt to convince the court of the merits

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Hometap closes $300M securitization of home equity investments

Home Equity, Home equity loans, Hometap, HWmember, Investors, LendingLife, Mortgage, Origination, Secondary market /

Boston-based Hometap has closed a $300 million securitization of home equity investment (HEI) loans originated by the company, marking its fifth transaction in the space.  The deal, closed on Aug. 29, included a $231 million Class A tranche rated at BBB(sf) and a $12 million Class B tranche rated at BBB(low)(sf) by Morningstar DBRS.  “Through

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Hometap says it’s only ‘scratched the surface’ with home equity investments

HELOCs, Home Equity, Homeownership, Hometap, HWmember, Investors, LendingLife, Mortgage, Origination /

Boston-based Hometap announced at the end of July that it has deployed more than $2 billion to 20,000-plus homeowners through its home equity investment (HEI) platform. The milestone comes less than 18 months after Hometap achieved $1 billion in home equity investments — a reflection of rising demand for alternative financing solutions. “This milestone reflects

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