Housing Wire

FEBRUARY 13, 2024

Boston-based fintech company Hometap has deployed more than $1 billion in home equity investment (HEI) products since its launch in 2017, the company announced on Tuesday. homeowners with outstanding mortgages, or some 63% of all homes, equity tied up in real estate jumped by 6.8%

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Housing Wire

MARCH 25, 2024

The current global market cap for “equity release” products, including reverse mortgages, could hit $50 billion by 2033, more than doubling its current size. This is according to a report compiled by the European Pensions and Property Asset Release Group (EPPARG), a trade association that represents European equity release companies.

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Housing Wire

APRIL 24, 2024

Seniors could choose to employ home equity through a reverse mortgage or other equity-tapping product to manage a series of expenses in retirement , but when it comes to managing their tax burden , it can get more complicated. But some financial advisers are hesitant to recommend the strategy.

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Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

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Housing Wire

MARCH 15, 2024

Homeowners 62 and older saw their collective home equity levels drop in the fourth quarter of 2023 by roughly $119 billion to $12.84 This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity from the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan.

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Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years.

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Equity Purchase and sale agreement Loans Mortgages 441

Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. Tappable home equity is expected to decrease to a forecasted $18.1 However, given that home-equity originations were less than $0.5

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Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

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Housing Wire

SEPTEMBER 26, 2023

The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for Resale Restriction Programs in FHFA’s Duty to Serve Underserved Markets Regulation (Duty to Serve Regulation),” the entry reads.

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Housing Wire

FEBRUARY 21, 2024

An affiliate of Paceline Equity Partners LLC , a private equity manager based in Texas, completed a debt investment in a subsidiary of Constellation Software Inc. trillion in mortgage locking and trading transactions per year. billion megadeal announced in May 2022.

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Housing Wire

DECEMBER 5, 2023

California-based Pennymac Financial Services ’s broker division, Pennymac TPO , launched a home equity loan product as tappable home equity nears its 2022 peak. A home equity loan — also known as a second mortgage — enables a homeowner to borrow money by leveraging equity in a home. homeowners sit on some $16.4

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Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

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Housing Wire

MARCH 8, 2024

homeowners are “house-rich, cash-poor,” home equity investment firm Hometap provides clients with a way to tap into their home equity instead of selling their home or taking out a loan. Kim: There are a handful of home equity investment firms in the market. Based on the notion that far too many U.S.

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Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents. billion. “So

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Housing Wire

NOVEMBER 9, 2022

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. The average mortgage holder is up by more than $92,000 compared to the start of the pandemic. What is a home equity loan? Read on to find out.

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Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. Stated differently, you are dealing with individuals that may be in an equity prison.

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Housing Wire

SEPTEMBER 8, 2023

The total number of mortgaged residential properties in the U.S. with negative home equity decreased 6% in the second quarter from the prior quarter, according to CoreLogic Homeowner Equity Insights quarterly report. Negative equity applies to borrowers who owe more on their mortgages than their homes are worth.

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Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% Loan production in the home equity arena was $1.8 from the $3.9

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Housing Wire

JANUARY 3, 2024

population grows older with each passing year, looking for new and novel ways to fund long-term care for the aging population could include home equity. A reverse mortgage can certainly play into this, but another growing dynamic is the divide between higher- and lower-income homeowners. As the U.S. According to data from the U.S.

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Housing Wire

APRIL 25, 2024

Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) counseling program was cited as an example. This program provides counseling to all applicants of the federally insured reverse mortgage program, the Home Equity Conversion Mortgage program,” the report stated.

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Housing Wire

JUNE 8, 2023

Home equity levels have been on the decline over the last year, new data shows. Homeowners with mortgage loans saw their home equity levels decline by an average of 0.7% between the Q1 2022 and Q1 2023, the first decline recorded since early 2012, according to CoreLogic ’s Homeowner Equity Report (HER). properties.

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Housing Wire

SEPTEMBER 23, 2021

Homeowners with mortgages gained $2.9 trillion in equity in the second quarter of 2021, a 29.3% The amount of equity for a property is determined by comparting the estimated current value of the property against the mortgage debt outstanding (MDO). This marks an average gain of $51,500(!) million homes. million homes.

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Equity Residential Mortgages As-is 545

Housing Wire

APRIL 29, 2024

The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month. A reverse mortgage is a type of home equity loan extended, in most cases, to those who are 62 years of age or older,” the announcement stated. “A

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Housing Wire

MARCH 1, 2024

They may also see the equity in their homes as a “financial reserve” and are generally confident in their retirement plans, but they are far less interested in employing their home equity in retirement. By and large, homeowners who are 60 and older love where they live and have a preference to age in place.

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Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Despite downturns in the mortgage origination market, Americans’ tappable home equity surged to a historic-high of $27.8 Guaranteed Rate , UWM , loanDepot and New Residential Investment Corp.

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Housing Wire

JANUARY 4, 2024

While home equity can certainly be a beneficial tool for some seniors to deploy, it will not always be a definitive answer for every senior’s needs. “If you could use your home equity to make your life better — to buy hearing aids, for example — maybe that’s a good investment.” ” Molinsky told NextAvenue.

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Housing Wire

JANUARY 23, 2024

EquityProtect EquityProtect does not just monitor, we do what others cannot do, we protect your title and more importantly, your equity with our patented SmartPolicy locking down your home ownership from cybercriminals and fraud. Product Fast Facts #1 EquityProtect values security and has been MARCUM SOC2 certified. #2 Get More Info

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Housing Wire

MARCH 19, 2024

Fifth Third Bank, an Ohio-based regional bank, moved its origination and servicing operations to Intercontinental Exchange (ICE) Mortgage Technology ’s end-to-end mortgage technology ecosystem, the companies announced on Tuesday. That is a common goal we share.

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Housing Wire

MAY 12, 2022

Soaring home prices continue to serve existing homeowners, with nearly 45% of all property owners now considered equity rich, a year-over-year jump that boosted 13% more homeowners into the prime position. of mortgaged residential properties in the first quarter of 2022 had at least 50% equity in their property, according to ATTOM.

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Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

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Housing Wire

MARCH 10, 2023

Despite the housing market cool down , homeowners with mortgages , which accounts for roughly 63% of all properties, gained $1 trillion in equity between the fourth quarter of 2021 and the fourth quarter of 2022, according to a report released Thursday by CoreLogic. of all mortgage properties in the fourth quarter of 2022.

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Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

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Equity Lending Loans Banks 384

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

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Mortgages Marketing Loans Equity 432

Housing Wire

SEPTEMBER 27, 2021

If last year gave rise to a slew of announcements of initiatives to address issues of racial equity, now is the time to give force to those promises. Christensen and Watson also advised against seeing racial equity as only a cause to donate money to, instead of enacting meaningful change in hiring and business practices. “If

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Housing Wire

FEBRUARY 28, 2023

Digital mortgage lender and nonbank home loan provider Better.com has launched “Equity Unlocker,” a mortgage innovation that allows employees to pledge vested stock equity as collateral for a down payment without selling their stock. “The status quo is broken,” Garg said.

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Housing Wire

JULY 11, 2023

American homeowners currently have more tappable home equity than ever — a net $30 trillion in home equity that can be tapped right now, according to HousingWire lead analyst Logan Mohtashami. There’s more tappable equity here than any other time in history, maybe.” It’s an exciting time for home equity, for sure.”

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Housing Wire

NOVEMBER 6, 2023

The use of artificial intelligence (AI) is poised to grow amid higher origination costs and greater competition, but without correcting the underlying causes of bias in data, AI models can embed racial equity inequality on a larger scale, a recent report from the Urban Institute concluded. “It

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