HELOCs

They aren't creating new products, but some lenders are advising cash-strapped customers in high-tax states to tap home equity or other credit lines to prepay property taxes before the new tax law kicks in.

Any decline in home equity balances could be offset by higher demand for other types of consumer loans. The worry is that only borrowers with blemished credit will take out home equity loans, increasing banks’ risk.

Homeowners with mortgages have collectively seen their equity increase 11.8% year-over-year in the third quarter, according to CoreLogic.

The vast majority of consumers with a home equity line of credit said they are considering using it to pay for planned home renovations this winter.

There were 1.4 million fewer properties seriously underwater in the third quarter, marking the largest year-over-year drop since the second quarter of 2015, according to Attom Data Solutions.

Recent research into customer preferences regarding home equity lending reveals that banks need to better engage with their customers to understand their needs and expectations, and then guide them to optimized HELOC product offerings that precisely meet their needs.

Home equity lines could double over the next six years. Some banks are actively pursuing the consumer credit opportunity, whereas many still feel stung by the housing crisis, unimpressed by home equity’s comeback so far or fearful of nonbank competition and fraud.

One of the biggest challenges surrounding the ballot initiatives is voter turnout, which is often just 10 percent of registered voters in elections the year after a presidential contest.

The forecast for total originations of home equity lines of credit over the next five years is almost twice as high as the five-year total through 2017.

The majority of borrowers impacted by Hurricane Harvey have a significant amount of equity, while many in Hurricane Irma disaster areas have limited or negative equity, according to Black Knight Financial Services.

The percentage of newly originated loans that are used to refinance an existing mortgage could shrink dramatically in 2018 as rates rise and burnout continues.

Homeowners gained an average of $12,987 in equity from last year, with Western states leading the increase.

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.