Splitero’s Michael Gifford says HEIs could gain market share as mortgage rates stay high

Home equity investments (HEIs) could become a larger part of the home lending market as high mortgage rates and tighter borrowing requirements make it harder for homeowners to access their equity through traditional products, according to Michael Gifford, CEO of San Diego-based HEI provider Splitero.In this edition of the Monday Morning Q&A with HousingWire‘s Reverse Mortgage Daily, Gifford discussed the challenges facing the HEI market — including consumer awareness, pricing and regulatory uncertainty. He said greater investor participation and securitization activity could help lower costs for borrowers over time, while emphasizing the need for clear regulatory guidelines and consumer education.Editor’s note: This conversation has been edited for length and clarity. Sarah Wolak: In your eyes, as someone in the home equity investment space, what do you think the market needs to do to build that greater awareness and trust? Michael Gifford: I think just general growth, right? Most homeowners still don’t know that home equity investments exist; it’s a very small part of the entire mortgage ecosystem. Splitero is spreading the word and making sure that homeowners are educated abo...