On June 13, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra provided the CFPB’s semiannual report to Congress, which included concerns about predatory house-flipping practices by companies like HomeVestors. Afterwards, Senate Subcommittee on Housing, Transportation, and Community Development Chair Tina Smith (D-MN) and Senate Ranking Member Lummis (R-WY) sent a letter to the National Association of Attorneys General (NAAG), requesting a coordinated effort to prevent cash homebuyers from entrapping sellers into unfair contracts.
HomeVestors is accused of targeting and deceiving … Read the rest