*FOR IMMEDIATE RELEASE FROM THE* *WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS*

*Thursday, Aug. 7, 2025**
**CONTACT*:
Lyn Peters, DFI Director of Communications
PH 360-902-8731, [email protected]

Ali Higgs, DFI Director of Consumer Services
PH 360-902-8703, [email protected] <[email protected]>

*Report commissioned by the Washington State Department of Financial Institutions on Home Equity Sharing Agreements issued*

Report completes Phase Two of the legislatively mandated study

Olympia – Today the Washington State Department of Financial Institutions (DFI) announced the second installment of a multi-phase report studying Home Equity Sharing Agreements [ [link removed] ] (HESAs). A HESA is a relatively new home equity financial product that allows homeowners to access their home equity. HESAs provide homeowners with an upfront payment in exchange for some percentage of the future value or appreciation of their home.

Senate Bill 5950 [ [link removed] ] provided funds to DFI to commission a study about HESAs and other non-traditional financial products. DFI commissioned the Evans School of Public Policy and Governance at the University of Washington (Evans School) to conduct a study of how HESA products impact communities of color, seniors, and other vulnerable populations in Washington.

The Evans School worked with DFI, industry members, and Washington consumers who have used HESA products. The report also is available on DFI’s reports to the legislature website [ [link removed] ].

###

*About DFI* ▪ www.dfi.wa.gov [ [link removed] ] ▪ 360-902-8700 ▪ 877-RINGDFI (746-4334)
The Washington State Department of Financial Institutions regulates a variety of financial service providers such as banks, credit unions, mortgage brokers, consumer loan companies, payday lenders and securities brokers and dealers. The department also works to improve financial education throughout Washington through its outreach programs and online clearinghouse www.dfi.wa.gov/financial-education [ [link removed] ]. In addition to posting information about licensees and administrative actions, DFI uses the Web and social media to provide financial education information: [link removed] ■ www.instagram.com/wastatedfi/ [ [link removed] ] ■ [link removed] ■ [link removed] ■ [link removed] ■ www.homeownership.wa.gov [ [link removed] ] ■ www.linkedin.com/company/state-of-washington-department-of-financial-institutions/ [ [link removed] ] ■ [link removed]

*About the Division of Consumer Services* ▪ www.dfi.wa.gov/industry/consumer-services [ [link removed] ] ▪ 360-902-8703
The mission of the Division of Consumer Services is to protect consumers from illegal and fraudulent financial products and services. The division accomplishes its mission through licensing, licensee examinations, investigations, and enforcing selected state and federal statutes and rules. Consumer Services regulates the business activities of consumer loan companies, mortgage brokers, money transmitters and currency exchangers, as well as check cashers and sellers, also known as "payday lenders." The Division is entirely self-supporting, with funding provided by licensing, auditing, and policing of regulated businesses and individuals. No money is received from the state General Fund or other public revenue source.

_ _

 

________________________________________________________________________

 DFI logo [ [link removed] ]  

STAY CONNECTED: Visit us on Facebook [ [link removed] ] Visit us on Twitter [ [link removed] ] Visit us on YouTube [ [link removed] ] Sign up for email updates [ [link removed] ]

SUBSCRIBER SERVICES:
Manage Preferences [ [link removed] ]  |  Unsubscribe All [ [link removed] ]  |  Subscription Help [ [link removed] ] | Contact DFI  [ [link removed] ]

________________________________________________________________________

This email was sent to [email protected] using GovDelivery Communications Cloud on behalf of: Washington State Department of Financial Institutions · 150 Israel Rd SW  · Tumwater, WA 98501 GovDelivery logo [ [link removed] ]