Loan Think

HELOC Market Still on its Back

Published September 27, 2010, 12:08 p.m. EDT

1 Min Read

So, how's the second lien market holding up these days? Not so good, but that's not really surprising, though offers for HELOCs still occasionally show up in my mailbox at home, including mailings from SunTrust and Citibank, the latter of which has let its mortgage business whither away. (My guess is that Citi sends me solicitations because I have a CD there. That's what we call 'cross selling.') According to figures compiled by National Mortgage News, industry-wide second lien fundings fell by 20% in the second quarter to $6.5 billion. A ranking of the nation's top 25 second lien funders appears in the Alternative Products Quarterly Data Report….

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