Home equity loans

Second liens have landed in the spotlight thanks to a recent Freddie Mac proposal, as well of record amounts of tappable home equity.

Federal Housing Administration-backed lending was the only mortgage type to grow in volume at the end of last year, but the pace of decline among originations overall also slowed.

This is the fourth transaction EasyKnock has made of home equity alternative providers since the start of 2023.

Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.

One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.

Freddie's plan "has merit," but if also used by Fannie, it might create competition for many closed-end, second liens in PL RMBS, according to new research.

Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.

The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.

The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.

Since the launch of vacant-loan sales, a majority have come from properties located in 10 states, HUD reported.

Lowe's Cos. said its sales will fall further this year as consumers continue to hold off from sprucing up their homes amid higher mortgage rates and a drop in new construction projects.

Comparable sales fell 3.5% in its fiscal fourth quarter, Home Depot said Tuesday.

The top five banks and thrifts have nearly $96 billion in combined home equity loan portfolios as of September 30, 2023.

The outstanding amount that people ages 62 and up hold represented a nearly $15.4 billion gain in property value offset by a record $2.32 billion in borrowing.

Black, Hispanic and Asian homeowners had a 44%, 32% and 30% denial rate for HELOC products, while white homeowners had a 23% denial rate, an analysis of HMDA data by the Federal Reserve Bank of Philadelphia found.

As the leading player in a specialized niche within the consolidating mortgage market, Finance of America is being watched closely.

Home equity investment (HEI) agreements homeowners receive upfront cash payments in exchange for giving an investor a stake in the property and the right to collect returns.

Homeowners have over $29.3 trillion in combined home equity, yet accessing it is becoming less attractive, Point's report said.

High mortgage rates and little inventory explain why over 60% of homeowners did or will perform a repair project in the next year, a LendingTree survey found.

The provider of home-equity loan products will partner with Cerberus Residential Opportunities, an affiliate of the capital management firm, with CEO Jerry Schiano at the helm.