Unclear Impact of SEC Rule on Home Equity Issuance

Home Equity Lending News, Dec. 1, 2023–Sam Garcia
A final rule adopted Monday by the Securities and Exchange Commission is intended to prevent conflicted transactions where the sale of asset-backed securities are tainted by material conflicts of interest. Figure CEO Mike Cagney and Imperial Fund Managing Director both praised the new rule. But Colgate Selden, a founding member of the Consumer Financial Protection Bureau, said in an interview with HELN, “And, if the market starts to change somewhat, will that impair liquidity in the secondary market for HELOCs more than maybe it would today before this rule?”
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