Blend releases new home equity software solution

Housing Wire

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

Equity 332

Hot home-equity market fueling securitization deals

Housing Wire

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).

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Is home equity, now at $11.5 trillion, at its peak?

Housing Wire

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. While homeowners saw home equity rise, the pace of growth slowed, especially on the West Coast.

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Home equity skyrocketed during the first quarter of 2022

Housing Wire

A recently published CoreLogic report found homeowners with mortgages in the first quarter of 2022 saw their equity grow by 32.2% According to the data vendor, the collective equity gain was $3.8 of all mortgage properties — were in negative equity, CoreLogic found.

Equity 383

Shared-equity fintech Unison expands Midwest operations

Housing Wire

San Francisco-based Unison is extending its reach in the heartland by expanding its shared-equity loan program to homeowners in Nebraska. billion in equity-sharing agreements with some 9,000 homeowners across 29 states and the District of Columbia.

Equity 285

Homeowners gain $2.9 trillion in equity in Q2 2021

Housing Wire

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). In addition, the national aggregate value of negative equity decreased $18.9

Equity 428

Rocket gets into home equity game, joining rival nonbanks

Housing Wire

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. .

Equity 325

Startup NFTYDoor launches home equity platform with one-minute application

Housing Wire

Mortgage startup NFTYDoor plans to launch a home equity platform, promising borrowers “a one-minute online application and funding in as little as three days.” homeowner had $216,900 in tappable equity, up 5% from the first quarter and 25% year over year.

Equity 290

Shared-equity firm Point expands into 2 more states

Housing Wire

Palo Alto, California-based fintech Point , which offers home-equity investment (HEI) contracts to homeowners, is expanding its services into Nevada and Ohio. The vast majority of homeowners in both states have tappable equity and are sitting on an incredible amount of wealth in their homes.

Equity 304

Fractional home-equity lender Point raises $115 million 

Housing Wire

Fintech and fractional home-equity lender Point has raised an additional $115 million through a Series C fundraising round led by venture capital firm WestCap. Homeowners, in turn, get to cash out a slice of their home equity with no payments due until the contract matures.

Equity 353

Opinion: The not-so-surprising resurgence of home equity lending

Housing Wire

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. Adam Boyd of Head of Home Equity Lending at Citizens Bank.

Equity 326

Homeowners gain over $620 billion in equity in second quarter

Housing Wire

year-over-year increase in their equity in the second quarter of 2020 – representing a cumulative gain of $620 billion for the nation and an average $9,800 hike in equity per homeowner, according to a new report by CoreLogic. homeowners with mortgages witnessed a 6.6%

Equity 406

Redwood Trust plants flag in the massive home equity market

Housing Wire

Part of that vision included finding ways to tap into the nation’s multitrillion-dollar pool of home equity. That is done via what is called a home-equity investment contract, or an HEI. The post Redwood Trust plants flag in the massive home equity market appeared first on HousingWire.

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Borrowers withdrew $63B in equity in Q2

Housing Wire

Homeowners withdrew $63 billion in equity in the second quarter of 2021, according to the latest numbers from Black Knight , the most in a single quarter in nearly 15 years. There is still $9 trillion in tappable equity, a 37% increase year-over-year.

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How Your Equity Can Grow over Time

Keeping Current Matters

It’s true that record levels of home price appreciation have spurred significant equity gains for homeowners over the past few years. For Sellers Move-Up Buyers Pricing Content Hub

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Community, building equity important for young homebuyers

Housing Wire

“Nearly half — 46% — said that building equity is now more important than ever. ” The post Community, building equity important for young homebuyers appeared first on HousingWire.

Equity 388

Equity jumps for Black homeowners, but problems remain

Housing Wire

The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021. That $59,000 gain represents a median home equity increase of 197%.

Equity 393

A transparent foreclosure marketplace reveals hidden equity

Housing Wire

billion in potential home equity has been uncovered for distressed homeowners facing foreclosure. A foreclosure sale usually represents the last chance for a distressed homeowner to benefit from any equity in a property being foreclosed,” said Ali Haralson , Auction.com president. “If

Equity 360

How to help homeowners make the most of home equity

Housing Wire

As home equity reached another record high this year, mortgage companies have a big opportunity to help homeowners understand how to better manage or leverage their home’s equity to improve their housing and overall financial outlook. Use home equity to raise home value.

Equity 358

Rocket Pro TPO to offer home equity loan products

Housing Wire

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The amount of tappable home equity nationally hit $11.5

Equity 311

4 Ways Homeowners Can Use Their Equity

Keeping Current Matters

Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic , homeowners gained an average of $51,500 in equity over the past year.

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Cash-out refis starting to slow despite equity gains

Housing Wire

The post Cash-out refis starting to slow despite equity gains appeared first on HousingWire. Home Equity Mortgage Origination Black Knight cash-out loans REFI INCENTIVE refinance Refinancing

Equity 329

U.S. homeowners have $153K “tappable” home equity on average

The Mortgage Report

American homeowners have never before had so much home equity. But how do you take equity out of your home? And should you? Learn more here.

Blend launches housing equity program

Housing Wire

Digital lending and cloud banking startup Blend Labs has launched Blend Impact , a program focused on increasing access and equity in housing and financial services with Blend’s nonprofit partners. The post Blend launches housing equity program appeared first on HousingWire.

Equity 345

FHFA requires GSEs to submit annual equity plans

Housing Wire

The Federal Housing Finance Agency (FHFA) will require the government sponsored enterprises to submit annual plans to advance equity in housing finance for the next three years. “This is a major step in bringing more equity to the housing finance industry,” said Fudge.

Equity 336

3 misconceptions about using AVMs in home equity lending

Housing Wire

Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending. To learn more about using AVMs in the home equity process, visit corelogic.com.

Bond investor PIMCO bets on home-equity market

Housing Wire

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO. Learn about the tools lenders should leverage to streamline home equity title and closing.

Equity 302

Cash-out refis are in high demand as equity levels skyrocket

Housing Wire

Record home price appreciation in recent years has pushed tappable home equity to new heights. According to a report published by data vendor Black Knight this week, the third quarter of 2021 saw a nearly $250 billion dollar increase in tappable equity—a record.

Equity 377

Home-equity investment pioneer Unison taps the secondary market

Housing Wire

San Francisco-based fintech firm Unison plans several securitization deals to market in 2022, with private label offerings backed by home-equity assets. We [the shared home-equity industry] are not a multi-trillion market.

Equity 255

Homeowner Equity Increases an Astonishing $1 Trillion

Keeping Current Matters

In a year that was financially devastating for many Americans, some good news for most homeowners is the dramatic gain in home equity over the last twelve months. Last week, CoreLogic released its 2020 3rd Quarter Homeowner Equity Insights report, which reveals four major findings: S.

Equity 270

Fannie Mae housing equity plan won’t expand credit box

Housing Wire

Can Fannie Mae ’s housing equity plan make a meaningful dent in the 30 percentage point racial homeownership gap without a broad review of loan pricing? Another cornerstone of Fannie Mae’s equity plan is the use of targeted lending programs.

Equity 349

As Home Equity Rises, So Does Your Wealth

Keeping Current Matters

This boost to your wealth comes in the form of equity. Equity is the difference between what you owe on the home and its market value based on factors like price appreciation. This is giving homeowners a significant equity boost. That equity can take you places.

Equity 271

Wells Fargo commits $210M to racial equity in wake of criticism

Housing Wire

announced this week that it has committed $210 million to advance racial equity in homeownership in the United States, following a Bloomberg investigation that found the bank approved fewer than half of Black applicants for a home refinancing in 2020.

Equity 329

Wall Street SFR firms accused of stripping equity from neighborhoods

Housing Wire

Despite the growing appetite for SFR investments, institutional equity ownership in the overall SFR market today is still estimated at only around 2%,” a market insight report from MetLife Investment Management (MIM) states. Private equity, single-family rentals and America’s neighborhoods.”.

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Two Important Impacts of Home Equity

Keeping Current Matters

Equity continues to rise, helping American homeowners secure a much more stable financial future. According to the most recent data from CoreLogic , the average homeowner gained $9,800 in equity over the past year. With prices going up, equity gains will also keep accelerating.

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