Home equity loans

A year that saw businesses express growing interest in the segment ended with a more subdued outlook due to interest rate trends, according to a new report.

Boomer wealth surged by $19 trillion in just under five years, with approximately half coming from home equity, according to new Freddie Mac research.

Lawmakers asked the company's founder and CEO to provide details ranging from arrangements being made for former customers to his own executive compensation.

Using homeowner data available on ICE's servicing platform, the integration can prompt users to use a self-guided appraisal valuation tool.

The company's closure comes in a year when it touted successful capital investments but also faced growing legal scrutiny.

Rocket Mortgage is also allowing customers to use automated valuation models in lieu of appraisal for loans up to $400,000.

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.