May 14, 2024
Home-equity lines of credit on the books of U.S. lenders increased by $16 billion during the first-three months of this year. Loan performance, however, deteriorated.
May 14, 2024
Home-secured credit line lending at Better Mortgage Corp. shot up by more than half from the final quarter of last year to the first quarter of this year. The company reported that its shift to commission-based compensation for loan originators is very promising.
May 10, 2024
Spring EQ LLC is offering closed-end second liens for homebuyers who are purchasing a property that has an assumable first mortgage. The lender has partnered with a real estate platform that just landed $3 million in financing.
May 10, 2024
Overall loan portfolios at U.S. credit unions edged lower on a month-over-month basis. But the institutions added nearly $4 billion in home-equity holdings, while $27 billion was added on a year-over-year basis. Average interest rates on home-secured credit lines have plunged 340 basis points over the past year.
May 9, 2024
Upstart Holdings Inc. more than doubled its quarterly originations of home-equity lines of credit, while the fintech cut its quarterly losses in half.
Close to $445 million in closed-end second liens that are being securitized next week by Rocket Mortgage LLC have a weighted-average coupon that is 73 basis points lower than this year's WAC for all CES transactions. Loans in the deal would likely qualify for the proposed government-sponsored enterprise CES product.
HomePace has been acquired in a transaction that is expected to expand product reach for the home-equity investment provider while enhancing the new parent's financing platform, which targets underserved homeowners.
An upcoming issuance of closed-end second liens has an average loan amount that is more than double the typical CES size. A majority of the loans are secured by Golden State properties.
May 13, 2024
By RALPH ARMENTA What is the fastest-growing segment in the mortgage industry today? Keep reading and I think you will agree that the following will help you reach the same conclusion I did.
May 9, 2024
Even though tappable equity ascended to an all-time high during the first three months of this year, the share of borrowers who have substantial equity in their residential properties moved lower.
May 9, 2024
An upcoming nonprime securitization that is mostly composed of first mortgages has more than $27 million in closed-end second mortgages. It's the third piggyback deal this year.
May 8, 2024
While lending standards on revolving home-equity loans were more restrictive at smaller banks over the past three months, large banks had no such tightening. Smaller institutions led a decline in product demand.
May 8, 2024
A key factor in the success of a proposed closed-end second mortgage product at Freddie Mac is pricing, according to a new report. Among the possible benefits are greater efficiency, standardization and transparency in the CES market. But the program could also leave the non-agency market with a higher concentration...
The HELN Newsletter
May 13, 2024
By RALPH ARMENTA What is the fastest-growing segment in the mortgage industry today? Keep reading and I think you will agree that the following will help you reach the same conclusion I did.