Home
equity
solutions
and
sale-leaseback
platform

EasyKnock
announced
a
partnership
on
Tuesday
with
financial
fitness
and
homeownership
platform

FinLocker
that
will
make
FinLocker’s
tools
available
free
of
charge
to
EasyKnock
customers.

The
FinLocker
app
includes
a
“personalized
suite
of
tools“
designed
to
help
consumers
improve
their
financial
health,
the
company
explained
in
its
announcement.
This
is
accomplished
through
higher

credit
scores
and
a
greater
ability
to
save
for
down
payments,
ultimately
positioning
people
to
more
easily
qualify
for
a

mortgage.

These
tools
include
personalized
budgeting
through
existing
bank
accounts,
financial
goal
setting,
credit
tracking,
insights
into
the
home
purchase
process
and
guidance
to
“achieve
mortgage
readiness.“
FinLocker
can
also
send
push
notifications,
notifying
consumers
of
changes
to
their
credit
scores,
updates
to
property
values
and
more.

“Our
customers
are
not
a
monolith
—
they
come
to
us
with
a
wide
range
of
financial
goals,“
EasyKnock
CEO
and
co-founder
Jared
Kessler,
a

2023

HousingWire
Vanguard,
said
in
a
statement.
“As
a
powerful,
data-driven
tool
for
people
looking
to
improve
their
financial
resiliency,
FinLocker
is
an
ideal
complement
to
the
EasyKnock
offering.”

“This
is
an
extremely
challenging
time
for
Americans
who
either
own
or
want
to
own
a
home,”
said

Brian
Vieaux,
president
and
chief
operating
officer
of
FinLocker.
“Our
comprehensive,
intuitive
platform
is
an
answer
to
that
challenge.
EasyKnock
goes
above
and
beyond
to
support
their
customers,
and
it
is
immensely
gratifying
to
provide
a
service
that
supports
financial
health.”

Through
its
sale-leaseback
option,
EasyKnock
offers
homeowners
a
path
to
convert
home
equity
into
cash
while
remaining
in
place
as
renters.
Customers
retain
the
right
to
repurchase
their
homes
or
direct
the
company
to
“sell
the
home
on
the
open
market,“
after
which
they
“may
receive
any
applicable
future
home
appreciation
minus
our
Buyout
Cost
and
your
real
estate
agent
commission,“
the
company
states
on
its
website.

EasyKnock
has
been
busy
over
the
past
few
months.

In
April,
it
announced
a
partnership
with
rental
platform

Pinata.
EasyKnock
automatically
reports
the
on-time
rent
payments
of
Pinata
customers
to
the
three
major
credit
bureaus
—


Equifax,


Experian
and


TransUnion.

This
ties
into
initiatives
launched
by
the
government-sponsored
enterprises


Fannie
Mae
and


Freddie
Mac
to
allow
rent-payment
data
into
the
underwriting
process,
making
it
easier
for
renters
to
become
homeowners.

In
December
2023,
EasyKnock

acquired
home
equity
investment
(HEI)
platform

Balance
Homes.
Two
months
later,
it

closed
a
$28
million
Series
D
funding
round
that
was
backed
by
the
venture
capital
wing
of

Northwestern
Mutual.
And
in
May,
it

purchased
the
assets
of

HomePace,
another
competitor
in
the

burgeoning
HEI
space.

Late
last
year,
the
company
also

ran
afoul
of
regulators
in
Massachusetts,
with
the
state
attorney
general’s
office
alleging
that
EasyKnock
violated
consumer
protection
laws
and
landlord-tenant
laws.

The
AG
accused
EasyKnock
of
engaging
in
”an
unfair
and
deceptive
equity-skimming
scheme
that
involved
purchasing
the
homes
of
cash-strapped
consumers
at
bargain-basement
prices
and
then
renting them
back
to
the
consumers,
at
times
for
unfair
rents.”
The
company
agreed
to
a
settlement
in
which
it
ended
its
sale-leaseback
program
in
Massachusetts
and
paid
the
state
$200,000,
among
other
remediations.

FinLocker
has
also
experienced
recent
growth.
Last
month,
it

closed
a
$17
million
Series
B
funding
round
through

Radian
Group
and
its
existing
shareholders.
The
capital
will
allow
the
company
to
create
new
tools
for
current
and
prospective
homeowners.

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