Home equity loans

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.

Volumes dropped below 900,000 in the first three months this year, while the cumulative loan balance nationwide also declined on a quarterly basis for the first time since 2015.

Equity-rich mortgages — those that have a loan-to value ratio of 50% or lower, meaning the mortgage holder's equity stake is at least half the property's worth — made up some 49% of the national total in the second quarter of this year, according to a report by Attom, a real estate data provider.

Households saw an average annual decrease of $5,400 earlier this year, but recent price trends point to some of that value returning, according to a new CoreLogic report.

Home Depot Inc. cut its outlook for the year after first-quarter sales dropped more than expected, a sign that economic uncertainty is leading to a pullback in home-improvement spending.