A federal lawsuit against Unison Agreement Corp. drew a motion to dismiss from the company after a Washington, D.C., homeowner alleged its home-equity investment product is, in substance, a mortgage loan, a claim with potentially broader implications for HEI regulation. Unlock Technologies Inc. has agreed to a settlement with Minnesota’s attorney general that has the originator exiting the state, and Point Digital Finance Inc. faces a federal lawsuit alleging violations of federal and Maryland credit laws.
Unison
Lilly V. Evans is challenging whether an equity-sharing agreement she entered with Unison around 2018 was, in substance, a mortgage loan. Evans received upfront funds in exchange for Unison obtaining an option to acquire a partial interest in her Washington, D.C., home. She alleges Unison repeatedly represented throughout the application process that the transaction was not a loan and that she would not have to repay the money…