Home equity investments in Washington

Washington DFI inquiry into home equity sharing agreements

Washington's Department of Financial Institutions opened an inquiry into home equity sharing agreements in 2024 and issued the first phase of its report on September 12, 2024.

• Nine providers responded to DFI's request for information about their origination, servicing, contract terms, disclosures, and calculations.
• DFI worked with the University of Washington's Evans School of Public Policy and Governance on a second phase.

Sources: DFI press release, September 12, 2024 · Phase one report (PDF)

Olson v. Unison Agreement Corp. (U.S. Court of Appeals for the Ninth Circuit)

In August 2025 a Ninth Circuit panel, in an unpublished decision, held that Unison's agreement met Washington's definition of a reverse mortgage and revived the homeowners' consumer protection claims. After the parties settled, the court on October 17, 2025 granted their request to dismiss and vacated its August judgment, so the ruling does not stand as precedent.

The later dismissal and vacatur are as reported by HousingWire.

Sources: Ninth Circuit memorandum, August 2025 (PDF, via plaintiffs' counsel) · HousingWire: appeals court throws curve ball secondary

Washington HB 1464 would have licensed home equity sharing agreement originators

Would have required home equity sharing agreement (HESA) originators to be licensed by the Department of Financial Institutions by July 1, 2026.

• Would have capped the annualized cost of an agreement at 25%, required at least 10% beginning equity, and given homeowners three business days to rescind.
• The House Consumer Protection & Business Committee took no action on February 21, 2025. We found no record of enactment.

Sources: House bill analysis (Consumer Protection & Business Committee) · Washington Legislature: HB 1464