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.
-
More than half of the third quarter refinance activity was the cash-out variety, with borrowers removing the most total equity from their homes in nearly 12 years, according to Black Knight.
December 9
-
Home loan originations rose by double digits in the third quarter while auto loan originations approached an all-time high, according to new household credit data from the New York Fed.
November 13
-
Prosper hopes to do for lines of credit what it did for unsecured personal loans, while BBVA hopes to provide a better experience for customers.
November 4
-
The once-popular loan Americans use to finance home renovations and college tuition is slowly dying, slashing a lucrative source of revenue for the nation's largest banks.
October 28
-
Bank of America's total first-mortgage originations rose while its home equity production decreased in the third quarter.
October 16
-
Most home sellers are stressed around issues involving time and money — two things they can't control — because those affect the purchase and financing of their next home, a Zillow survey found.
October 11
-
With housing affordability still a prominent hurdle to homeownership, prospective buyers — especially millennials — now get creative in order to find suitable homes, according to Chase and the Property Brothers.
October 4
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.
