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Despite slowing originations, the shift to a purchase-oriented market contributed to growth, while outstanding HELOC amounts also surged to its largest in over a decade, the Federal Reserve Bank of New York found.
February 16 -
While reverse mortgages allow older homeowners the opportunity to draw on home equity with minimal risk, problems arising from flaws in program structure are causing headaches for borrowers and issuers alike, according to recent reports.
February 10 -
After volumes peaked at their highest in over a decade in March, the reverse mortgage market ended the year with a bankruptcy and merger involving its largest companies.
January 20 -
Borrowers gained an average of $34,300 in home equity since the third quarter of last year, but that's almost half the amount of growth recorded over the summer.
December 9 -
Lenders are focusing on these loans to drive new business as the refinancing market continues to decline in the face of higher interest rates.
November 14 -
While loan consolidation is a priority for many who consider home-equity products, a third of those with other debts aren't comfortable taking out a second lien on their homes.
October 14 -
In the face of a growing number in home-equity products, HECM endorsements dropped nationwide by over 43% on a monthly basis to its lowest point in more than two years.
October 4 -
Also, the percentage of loan-to-value ratios in all buckets above 50% shrunk between the first and second quarter, according to a new CoreLogic report on homeowner equity.
September 12 -
The software for lenders is a bright spot for the fintech, which is reeling from a difficult second quarter in which it recorded a heavy loss due to an assessment of its title business.
August 26 -
Both bank and nonbanks are starting in — or returning to — this segment as they look to make up for declining originations. But there are a few key issues to consider before taking on the new line of business.
August 22