MANASSAS, VA – The Coalition of Home Equity Partnership (CHEP) launched today, featuring the largest shared equity product companies in the U.S. marketplace. CHEP’s mission is to promote industry best practices, advocate pro-consumer policies and protections, and ensure a better understanding of shared equity products among consumers, policymakers, and the media. Its members include Hometap Equity Partners, LLC, Point Digital Finance, Inc., and Unlock Technologies, Inc.
The coalition’s formation comes at a crucial time as Americans increasingly seek greater choices and innovative options to meet their financial needs. Amid ongoing economic uncertainty, elevated mortgage rates, and persistently high home prices, more homeowners are turning to shared equity products as a viable solution.
“The launch of CHEP is a major milestone for the shared equity industry,” said Jim Riccitelli, CEO of Unlock. “By working together, we will more effectively ensure consumers, regulators, and policymakers fully understand the benefits and value of shared equity products. As more homeowners seek alternative financial solutions, CHEP will advocate for fair policies that protect consumers and foster industry growth. Unlock is extremely proud to be a founding member of the coalition and a primary driver behind its mission and launch.”
Members of CHEP are committed to enhancing homeownership opportunities and providing accessible financial solutions that empower homeowners to draw on the equity they have accrued in their most significant asset—their home.
“The formation of this coalition demonstrates our industry’s commitment to collaboratively advance best practices and consumer protections,” said Josh Gaffney, General Counsel at Hometap. “By working closely with regulators and policymakers, we can ensure these products continue to serve homeowners with transparency and fairness. Hometap is proud to help shape the future of home equity solutions.”
The coalition is focused on providing homeowners with a transparent process that ensures they are well-informed. It also supports clear and appropriate federal and state regulations designed to protect homeowners and foster a fair, efficient, and competitive market.
“Shared equity provides homeowners with a flexible, innovative way to unlock their home equity without taking on additional monthly payments—a critical option in today’s increasingly expensive world,” said Matt Windsor, Deputy General Counsel at Point. “Our shared equity model is designed to serve homeowners who may be excluded from traditional financial solutions, despite having substantial home equity. We are excited to collaborate with coalition members, regulators, and lawmakers to ensure homeowners have exceptional experiences with home equity products.”
For more information, visit www.homeequitypartnership.org or contact info@homeequitypartnership.org.