MA S833

Amends Section 269 of Chapter 238 of the Acts of 2024 to strengthen consumer protections for shared appreciation mortgages, which allow lenders to receive a percentage of a property's appreciation upon sale, refinancing, or maturity

Requires borrowers to complete third-party counseling from a HUD-certified housing counseling agency approved by the Division of Banks, with costs paid by the entity originating the mortgage

Caps the shared appreciation payment at the lesser of: 15% of the property's appreciation value (minus improvement costs) or 15% of the property's value at loan origination, based on state-certified appraisals

Removes the previous liability shield that protected entities from legal claims under Chapter 93A, 140D, 183C, and section 49 of Chapter 271, making originators liable for violations of applicable federal and state laws

Mandates written disclosure notices be provided at least 7 days before closing, detailing payment terms, appreciation percentages, and counseling requirements, with the Attorney General authorized to promulgate implementing regulations