Home Equity Lines of Credit (HELOCs)
Home Equity Lines of Credit (HELOCs) are experiencing a resurgence due to both homeowners having trillions in tappable equity as well as many being locked into low-rate mortgages. Borrowers are seeking liquidity without refinancing. Banks and independent mortgage lenders are responding to this by expanding HELOC products, increasing limits, and embracing new technology and digitization. Current areas of focusing include securitizations gaining momentum, rising fraud threats, and intensifying competition is intensifying. HELOCs have re-emerged as a strategic growth lever for mortgage professionals.
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Online personal lending pioneer Prosper is developing a home equity line of credit product that it will offer in partnership with banks. The embrace of traditional depositories marks a departure from fintech lenders that typically seek to disrupt and displace legacy institutions.
November 14
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Ellie Mae is tackling home equity lines of credit loans with its latest Encompass Digital Mortgage Solution update as signs point to a surge in home equity borrowing.
October 22
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A surge in home equity borrowing may be around the corner as household equity levels surpassed their previous housing bubble peak, according to a TransUnion study.
October 19
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A stronger economy, easing house price appreciation and slightly improving inventory conditions aren't enough to push up home sales this year, according to Freddie Mac.
September 24
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Mortgage origination volume continues to decline as homebuyers receiving loans bring more money to the closing table.
September 13
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The mortgage delinquency rate dropped to its lowest level in 12 years despite foreclosure starts and active foreclosures both increasing in July, according to Black Knight.
September 10
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The gap between equity-rich homeowners and mortgage borrowers who are seriously underwater narrowed in the second quarter, highlighting the uneven nature of the housing market's recovery since the Great Recession.
August 9
The first three months of the year coincide with the start of President Donald Trump's second term in office. Investors are likely to be more interested in banks' outlooks amid swings in tariff policy than the first-quarter results.
