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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The number of U.S. properties that were equity rich in the second quarter grew by 1.6 million properties from a year ago.
August 17
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Defaults on second-lien mortgages have crept up on a year-to-year and a consecutive-month basis; and first-lien defaults are above where they were the previous month, but still below year-ago levels.
August 15
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Despite rising home prices and a market where many older homeowners are loath to sell, home equity line of credit lending remains muted in all but one corner of the industry: credit unions.
August 14
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Twenty years ago, Texas became the last state in the union to legalize the home equity loan, allowing people for the first time to use their own homes as collateral.
August 8 -
The U.S. population is aging, and one of the well-established components of the American dream — buying and owning a home — appears poised to aid in the baby boomers' next phase of life.
July 26
Buckley Sandler LLP -
It’s a very large number for any bank, but Bank of America executives said the move makes good economic sense and promotes relationship-building with customers.
July 21
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Borrowers with variable-rate debt affected by Federal Reserve rate hikes showed they could handle December's 25-basis-point increase, but that could be changing as short-term rates continue to rise.
July 20
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.
