March 18, 2024
A corporation has been created as the new parent of Figure Lending LLC, while the former parent has launched a new trading platform for blockchain native assets. Among other things, the move is intended to improve lending efficiency, leverage originations of lending partners, and streamline capital markets activity.
March 18, 2024
A new home-equity line of credit from Better Home & Finance Holding Co. promises prospective borrowers an approval within 24 hours of a rate lock. The new offering is up against competitors that are offering HELOC approvals or closings in five minutes.
March 14, 2024
By PAUL HUGHES A recently launched company founded by industry heavyweights has included home-equity compliance support among its financial services offerings. With many first mortgage players getting back into second mortgage lending, they are advised to re-acquaint themselves with today's home-equity products and closely examine compliance challenges. The new business...
March 13, 2024
Credit union holdings of junior-lien loans soared by nearly a quarter last year, pushing up the share of subordinate mortgages for the fifth consecutive quarter. But the chief regulator is warning credit unions to actively manage increasing consumer financial stress and growing balance sheet strain.
March 12, 2024
Results from a survey about homeowner sentiment indicate that there are fewer prospective home-equity borrowers than there were a year ago. But a closer examination reveals pockets of opportunity among younger generations, including educating them about the products. The use of technology has been growing, and it's the baby boomers...
Just one day after reporting on the lowest yield for a closed-end second mortgage issuance in nearly two years, another upcoming CES securitization featuring loans originated mostly by Spring EQ LLC carries a yield that is 170 basis points higher -- making it the highest yielding CES transaction in at least two years.
An upcoming securitization that includes high-quality closed-end junior liens originated by Rocket Mortgage LLC has a lower yield than any CES issuance in nearly two years.
Figure Lending LLC is securitizing a $326 million transaction loaded with home-secured lines of credit. The weighted-average coupon on the deal is north of 11.5%.
March 12, 2024
By STACEY CORSO It's been a rough road during the past five years for capital markets in the home-equity investment sector. But investors are becoming more receptive, and the outlook for 2024 remains “quite positive.”
March 11, 2024
Despite a contraction in total loans owned by credit unions, home-secured credit line holdings expanded -- and by more than any other loan type. Average yields, on the other hand, for home-equity lines of credit didn't change from a month earlier or a year earlier.
March 8, 2024
A Nigerian national has been sentenced to more than a decade in prison for using home-equity lines of credit in a scheme to steal at least $5 million.
March 7, 2024
While banks overall trimmed the amount of home-equity lines of credit in their investment portfolios by more than $1 billion last year, community banks boosted their HELOC holdings by more than $2 billion. Meantime, delinquency on community banks' home-equity portfolios was 129 basis points lower than for all banks.
March 7, 2024
Despite a modest quarter-over-quarter decline in national homeowner equity, the figure has expanded by more than a trillion dollars on a year-over-year basis. Rhode Island saw the biggest gain.
The HELN Newsletter
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...