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Opinion: Bank capital requirements would put squeeze on mortgage market

Housing Wire

In September, the nation’s banking regulators released a proposal to increase the capital required of banks with more than $100 billion in assets. The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market.

Banks 441
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Home-equity lending blossomed in 2023

Housing Wire

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising.

Equity 457
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Home equity products light up a dark housing market

Housing Wire

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.

Equity 414
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Opinion: How did homeowners get into home equity prison?

Housing Wire

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. Then, the housing market takes off like a rocket with home values exceeding all expectations.

Equity 423
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Online bank Ally launches home grant program

Housing Wire

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. Ally is considering expanding the program to more markets in the future. “By

Banks 420
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FHFA considers exceptions for Enterprises aiming to acquire mortgages with shared equity features

Housing Wire

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.

Equity 413
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5 best practices for improving the home equity lending experience

Housing Wire

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.

Lending 438