Home equity loans

Pressure on core home improvement categories won't "be completely eased until the housing market is back on much firmer footing, which will not be until well into 2025 at the earliest," wrote Neil Saunders, managing director at GlobalData, in a note.

Even as home equity withdrawals hit a two-year high, utilization rate remained less than half of normal, ICE Mortgage Technology said.

Figure Technology Solutions introduced a "piggyback" home equity line of credit platform for its lending partners.

The strategic investment in the shared appreciation platform comes after capital raises at similar businesses last month.

Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections.

A trigger occurs if the reserve fund is less than 50% of the reserve fund target amount, or if the payment date where the outstanding HEA valuation is less than 80% of the starting home valuation.

The firm's Buy Before You Sell product for lenders has tapped over $655 million in homeowner equity in the past 18 months.

The FHA-loan market, in particular, saw the share of piggyback originations increase over two years, while the pace of growth in conventional lending was more muted, Corelogic said.

The leading mortgage player posted another nine-figure profit, although its gain-on-sale margins slipped.

A pick-up in home prices during spring buying season pushed the share of equity-rich households higher across the country, according to Attom.

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.