May 17, 2024
A plurality of homeowners seeking a closed-end second mortgage for equity extraction plan to use the proceeds to make improvements to their houses. More than a third are looking to consolidate their bills. In all, four reasons were identified for pulling cash out of a property. Consumers were urged to...
May 16, 2024
A new junior-lien product from United Wholesale Mortgage doesn't require monthly payments, doesn't accrue interest, and eliminates down payments.
May 16, 2024
Home-equity lending continued to diminish during the fourth quarter of last year. But more recent data suggests that the tide has turned.
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.
Issuers of residential mortgage-backed securities that include closed-end second mortgages, home-equity lines of credit and home-equity investments have already exceeded securitization volume for all of last year -- and 2024 isn't even half over. Pushing aggregate issuance past the milestone is a HELOC deal from Figure Lending LLC.
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.
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 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.
May 9, 2024
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.
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.