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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Some credit union advocates are praising the Consumer Financial Protection Bureau for a move that exempts select institutions from certain reporting requirements, but other say the bureau must still do more.
July 11
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The number of borrowers underwater on their mortgages is below 2 million for the first time since 2006, as rising home prices are improving homeowner equity and creating new lending opportunities.
July 10 -
LendingTree has added property valuation data to its My LendingTree site, showing consumers how much equity in their home they can tap.
June 14
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Refinance mortgage volume hit a 10-year low during the first quarter, while a tepid market for purchase lending put total origination activity at its lowest level since 2014.
May 25
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Seasonal factors contributed to an 89,000-unit increase in the number of seriously delinquent properties in the first quarter from the fourth quarter of 2016.
May 4
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A group of fintech players and venture capital firms are investing $1 million in Patch Homes, a startup that lends money in return for a share of home equity.
May 1
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Upcoming changes to how banks report mortgage activity to the government will have an undeniable impact on Community Reinvestment Act exams, but regulators have been silent on how they will use the data.
April 20
Buckley LLP
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.
