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
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 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 6, 2024
Homeowners on the West Coast are particularly good prospects for home-equity junior-lien products because of exceptionally high equity positions and interest rates on their existing first mortgages that are lower than the national average.
May 3, 2024
The origination of closed-end second mortgages at Rocket Mortgage LLC more than tripled during the first-three months of this year. CES loans from the lender have been included in 13 securitizations since last year. Earnings, meantime, swung to a profit.
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.
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.
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 of riskier loans. There is speculation about Freddie jumping into open-end junior liens.
May 6, 2024
By STEVE RAPPORORT Industry leaders last week endorsed home-equity investments, which have been performing well, as the next big thing for cash-strapped homeowners. But the growing market could be tempered as the industry eventually adapts to potential regulatory challenges.
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
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....
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.
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.
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...