Home equity loans

Bank of America's first-mortgage production dropped almost 26% year-over-year in the fourth quarter of 2018, but it experienced a less severe 10% decline in home equity lending during the same period.

Consecutive-month default rates for home loans are increasing, and they could remain higher the next few months, according to a recent report.

Consumer lending should also be a bright spot, while mortgage lending could be suppressed by rising rates and tight housing supplies.

More consumers fell behind on their loans in the third quarter of 2018, even as average wages rose and the unemployment rate fell to a 50-year low.

Late payments on mortgages are expected to keep dropping and credit is expected to remain strong next year, in part because housing prices remain healthy in most areas, according to TransUnion.

Weakening prices from the most expensive metro areas caused the first decline in available equity since the market started recovering from the housing crisis, according to Black Knight.

Most millennials are purchasing fixer-uppers in order to afford a house, with 75% planning to finance renovations by tapping the equity in their home, according to a Chase Home Lending report conducted with Pinterest.

A notable drop in home equity lending at Bank of America during the third quarter contributed to an overall decline in new single-family loans produced by the company.

Mike Cagney’s current venture, Figure Technologies, is offering consumers the ability to apply online for home equity loans and get funding in as little as five days.

Finance of America Reverse is offering a new second-lien alternative to the Federal Housing Administration's Home Equity Conversion Mortgage that can be placed on a property with a pre-existing first-lien loan.