HELOCs

Lenders will not have to report data on open-ended home equity lines of credit in 2018 or 2019 if they originated fewer than 500 HELOCs the preceding year, the bureau said.

The number of U.S. properties that were equity rich in the second quarter grew by 1.6 million properties from a year ago.

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.

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.

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.

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.

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.

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.

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.

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.