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]

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 (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 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.

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About DFI ▪ www.dfi.wa.gov ▪ 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. In addition to posting information about licensees and administrative actions, DFI uses the Web and social media to provide financial education information: https://www.facebook.com/wadfi ■ www.instagram.com/wastatedfi/ ■ https://x.com/dficonsumers ■ https://dfi.wa.gov/financial-education/blog ■ https://www.youtube.com/user/WADFI ■ www.homeownership.wa.gov ■ www.linkedin.com/company/state-of-washington-department-of-financial-institutions/ ■ https://bsky.app/profile/wastatedfi.bsky.social

About the Division of Consumer Services ▪ www.dfi.wa.gov/industry/consumer-services ▪ 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.

 

 

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