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            • Collecting User Information for Personal Loans
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          • Home Equity Line of Credit (HELOC)
            • Displaying Offers HELOC
            • Risk Factors & Requirements
            • Dos & Don’ts for All HELOC Supply Partners
            • Dos & Don’ts for HELOC Native Partners (API)
            • Our Embed/Partner Page Implementation
            • HELOC-specific disclosures
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      • Channel Partner Reporting - Looker
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  • Credit Cards Marketplace
    • Native API (Build Your Own)
      • Getting Started
      • Flow Design
      • Collecting User Information for Credit Cards
      • Displaying Credit Card Offers
      • API Specifications
      • Compliance Guidelines
  • New Marketplaces (Credit Builders, Earned Wage Access, Debt Relief)
    • Hosted Integrations
      • New Marketplaces Embeds
      • Adding Your Client Tags for Reporting Attribution
  • References
    • Brand Guidelines and Assets
    • Appendix
      • Appendix A - Notices
      • Appendix B - Disclosures
      • Appendix C - Consents
      • Appendix D: API Field to Offer Card Mappings
      • Appendix E: Appending Client Tags for Partner Page and Embed Integrations
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  1. Loans / Savings / Second Look Marketplace
  2. Native API (Build Your Own)
  3. Financial Product Verticals
  4. Loans
  5. Home Equity Line of Credit (HELOC)

Dos & Don’ts for HELOC Native Partners (API)

Dos

  • DO clearly display the product type and terms.

    • Include a tooltip or tappable element with a brief product description and overview of a HELOC. (A home equity line of credit (HELOC) lets you borrow money against the equity you have in your home.)

    • Any changes must be submitted for compliance review.

    • Include amount, APR, whether APR is fixed vs. variable, estimated monthly payment, and term length.

  • DO ensure the consumer can reasonably compare offers. The more the consumer can do, the better. For example:

    • Sort or filter by: APR, Term, Payment

    • Add language such as, “We think this is a good option, but there may be more.”

      • For example, our disclosures state, “We do not connect you with every lender in the market, so other lenders and loans not listed on our service may be available to you, and those other loans may have different terms and conditions, including lower rates. We cannot guarantee the lowest price or best terms available in the market.”

  • DO send us property status for leads (e.g. “rent”, “own with mortgage”, or “own”). EF will exclude renters.

Don’ts

  • DO NOT collect or send EF more than 5 pieces of information that constitute an application, per CFPB

    • The 6 pieces of information that constitute an application are Name, Income, SSN, Loan Amount, Address, and Property Value.

    • In our Loans vertical, we require everything but property value, so do not collect/send us that datapoint.

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Last updated 8 months ago

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