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 shift to nonbank lenders will put the breaks on non-qualified mortgage and home equity line of credit origination growth.
May 20
Whalen Global Advisors LLC -
Live Well Financial, a reverse and traditional mortgage lender that abruptly stopped originating on May 3, will lay off 103 employees, according to a Virginia Employment Commission filing.
May 7
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The number of homeowners likely to qualify for a refinance nearly doubled in a single week following the largest mortgage rate decline since the housing bubble burst, according to Black Knight.
April 1
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Point, which provides an alternative to traditional home equity lending products, has raised $122 million in new capital from eight investors to expand its reach.
March 20
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Home equity is at an all-time high, but consumers aren't taking advantage of this financing option, according to LendingTree.
March 19
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Having an all-digital process results in lower customer satisfaction for home equity line of credit providers than an all in-person or a mix of methods, a J.D. Power survey found.
March 14
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Strong loan performance continued into December as all delinquency stages fell annually behind equity gains and the sustained rise of home prices, according to CoreLogic.
March 12
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.
