Rep. Venkat concerned about Point giving financial inducements for testimony
Comes as Venkat bill on home equity discussed by Commerce Committee
Pennsylvania House Democratic Caucus March 4, 2026 | 12:37 PM
HARRISBURG, March 4 – During a House Commerce Committee hearing today on bipartisan legislation that would regulate Shared Appreciation Agreements, state Rep. Arvind Venkat, D-Allegheny, expressed outrage over the solicitation of testimony against the legislation through financial inducements.
Point, a company that markets Shared Appreciation Agreements, emailed customers before the meeting with the promise of $50 Amazon gift cards if they submitted a testimonial in opposition to H.B. 2120, introduced by Venkat to regulate these agreements. This solicitation and the subsequent testimonials submitted by Point came without notice to the Commerce Committee.
“These actions by Point are intended to mislead the members of this committee and the people of Pennsylvania by incentivizing a particular viewpoint for financial gain,” said Venkat. “This is an outrageous corruption of the legislative process. House Bill 2120 serves to provide consumer protections for homeowners to preserve and understand the value of their most valuable asset—their home.
“What Point has done raises significant questions about its credibility as a company, as a participant in the deliberations on this legislation, and about the nature and quality of its product. If it is not transparent with lawmakers, how can we believe it is transparent with its customers? I will continue to use my authority as a legislator to ensure homeowners are protected, regardless of the underhanded actions of corporations such as Point.”
Shared Appreciation Agreements, also known as Home Equity Sharing Agreements, are contracts in which a homeowner receives funds in exchange for granting a third party a future interest in the appreciation, equity, or value of the home.
House Bill 2120 would include these agreements under the same statutory safeguards as other home-secured financial products, including disclosure requirements, foreclosure protections, and remedies for violations.
“For most Pennsylvanians, their home is their most valuable asset,” Venkat said. “Homeowners may enter into these agreements believing they are making a beneficial decision for their family’s future, but when marketing is unfair or deceptive, they could face significant financial hardship down the road.
“Given the importance of homes and their value to so many Pennsylvanians, we must expeditiously bring shared appreciation agreements into a regulatory framework similar to that of mortgages so that Pennsylvanians can be assured transparency and protection against predatory lending practices in these products. I am thankful to Chairmen Conklin and Lawrence for holding this hearing.”
Under a Shared Appreciation Agreement, the more a home appreciates, the more the homeowner must pay to satisfy the contract—often far exceeding the amount originally received.
This bipartisan legislation, introduced by Venkat, is co-prime sponsored by state Reps. Tim Twardzik, R-Schuylkill, and Lindsay Powell, D-Allegheny, who are co-chairs of the bipartisan Pennsylvania Housing Caucus.
The full video of the hearing, including Venkat’s opening remarks on the legislation, can be found here.