May 2, 2024
While the year started out slow, monthly originations of home-equity lines of credit have gained momentum and moved sharply higher from the preceding month. Year-over-year and quarterly activity, however, retreated.
May 1, 2024
A closed-end junior lien product has been launched by Redwood Trust Inc. In addition, the specialty finance company has reported progress in its home-equity investment business.
April 30, 2024
A new survey found that more than a third of homeowners mistakenly believe they will lose the low interest rate on their first mortgage if they take out a new home-equity line of credit.
April 29, 2024
Banks have modestly bumped up the yields on their home-equity portfolios by 107 basis points during the past year. Leading the increase was Fifth Third Bank, N.A., which maintained its position as the bank with the highest home-equity yield for the third consecutive quarter. At the other end of the...
April 26, 2024
A significant expansion from a year earlier in open-end home-equity holdings at smaller commercial banks was more than enough to offset an equally significant decline at larger financial institutions -- pushing overall bank portfolios higher.
By SAM GARCIA Freddie Mac's proposal to begin acquiring close-end second mortgages made to borrowers whose first mortgages it already owns faces numerous hurdles. But if agency junior liens do make it to fruition, one expert sees CES issuance volume potentially soaring three to four times above already brisk expected levels. Rocket Mortgage LLC could be a big beneficiary from a government-sponsored enterprise CES.
An issuance of home-equity investments originated by Point Digital Finance Inc. that is set to close later this month will be the second HEi transaction already in 2024 -- putting the sector on a faster pace than last year.
Nearly half of the closed-end junior liens being securitized in a deal next month were originated by PennyMac Loan Services LLC, while more than a fifth of the loans came from Nationstar Mortgage LLC. The average loan amount for the issuance is the second-lowest this year.
May 1, 2024
An issuance of home-equity investments originated by Point Digital Finance Inc. that is set to close later this month will be the second HEi transaction already in 2024 -- putting the sector on a faster pace than last year.
April 25, 2024
Closed-end second mortgage lending at PennyMac Financial Services Inc. saw a nice year-over-year improvement as the lender began buying second-lien third-party originations, though business slumped on a quarter-over-quarter basis. Earnings swung to a profit.
April 25, 2024
California's fourth biggest home lender among credit unions is adopting a new loan origination system for its open-end and closed-end home-equity lending as well as its traditional first mortgage business.
April 24, 2024
In the first-three months of 2024, banks that are major home-equity lenders reduced their collective home-equity portfolios by $1.5 billion compared to a year earlier. Leading the pullback was KeyBank. Citizens Bank, however, continued its robust growth.
April 24, 2024
The company that claims to be "Denver's top mortgage lender" has reported "a significant increase in applications" for home-equity lines of credit.
The HELN Newsletter
April 7, 2024
With high interest rates and soaring home prices, a new trend in mortgage lending has emerged: the resurgence of Home Equity Lines of Credit (HELOCs). Rather than risk a higher interest rate by refinancing a current property or moving to a new one altogether, many homeowners are choosing to enhance their current living spaces or focus on paying down debts. This shift in homeowner priorities has led to a significant increase in HELOC interest, offering both homeowners and lending companies valuable opportunities.
February 26, 2024
By SUNDANCE BRENNAN Home-equity investments are gaining momentum and poised to increase market share in 2024 at an exponential rate. Key factors include several private securitizations, relatively high interest rates, and institutions seeing high returns. There is also a record...