JD Supra

Arizona AG Concludes Non-Recourse, No-Interest Earned Wage Access Products Are Not “Consumer Lender Loans” Requiring a License

Arizona Attorney General Mark Brnovich released opinion No. 22-(R22-011), concluding earned wage access (EWA) products that are fully non-recourse and no-interest are not “consumer lender loans” under ...
HousingWire

HUD Publishes Clarification of Non-Recourse Policy For HECMs

Today the Department of Housing and Urban Development published Mortgagee Letter 2008-38 to provide further clarification regarding the requirements for repayment of Home Equity Conversion Mortgages ...
HousingWire

Should HUD Change Its Recourse Policy For Reverse Mortgages?

Over at Broker Universe, Atare Agbamu wrote an interesting article about why he thinks HUD should revoke Mortgagee Letter 2008-38. The ML was a surprise and caused a bit of stir because of the way it ...
Morningstar

Trinity Street Capital Partners (TSCP) (www.trinitystreetcp.com), a real estate finance company, announces the origination of a $61MM, non-recourse construction loan in ...

The non-recourse construction loan had a 2-year term, with two 6-month extension options and achieved an 86% loan-to-cost. The Charleston project will offer (156) one-bedroom & studio units, (70) ...
JD Supra

Arizona AG issues opinion concluding that no-interest, non-recourse earned wage access products are not “consumer lender loans” requiring a “consumer lender” license

Mark Brnovich, the Arizona Attorney General, recently issued an opinion regarding whether earned wage access (EWA) products are “consumer lender loans” under the state’s Consumer Lenders Act (CLA) ...