HELOCs

Home equity lenders expect origination activity to remain dreary through next year even though consumers can potentially access more proceeds now than in 2006, a Mortgage Bankers Association survey found.

With nearly half of homeowners renovating in the next two years, HELOCs stand as the most likely form of lending sought out by consumers, according to TD Bank.

Cerberus affiliate FirstKey Mortgage will pool outstanding first- and second-lien loans totaling $277.7 million drawn from 1,732 seasoned and performing HELOCs.

It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game.

The shift to nonbank lenders will put the breaks on non-qualified mortgage and home equity line of credit origination growth.

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.

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.

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.

Home equity is at an all-time high, but consumers aren't taking advantage of this financing option, according to LendingTree.

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.