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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President Donald Trump's new tax law set off a false alarm for homeowners planning to borrow against the equity in their houses.
March 19 -
Residential mortgage originations fell 19% year-over-year in the fourth quarter of 2017, due primarily to a large drop in refinance volume, according to Attom Data Solutions.
March 16
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Recent developments in the Federal Housing Administration's Home Equity Conversion Mortgage program are making it easier for lenders to originate reverse mortgages to borrowers who want to buy a new-construction home.
March 6
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Canadians are borrowing against their houses at the fastest pace in more than five years, as home equity lines of credit emerge as a preferred means of accessing funds.
February 20
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It was a record-setting year in terms of the low number of foreclosure starts, partially helped by the various post-storm moratoria, according to Black Knight.
February 5
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Home remodeling activity reached a high not seen since 2001, signaling homeowners are either gearing up to sell their properties or committing to staying put for a bit longer.
January 22
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The New York bank has begun marketing Marcus loans as a way to pay for home improvements, while also raising the maximum loan size to $40,000.
January 16
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.
