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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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

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Home equity loan vs. HELOC – What’s the difference?

Housing Wire

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. What is a home equity loan? Typically, a home equity loan amount can be 80-90% of the property’s appraised value.

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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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Trillions in equity vanished from the housing market in the third quarter

Housing Wire

High mortgage rates and looming economic uncertainty caused trillions in equity to evaporate from the housing market in the third quarter of 2022, according to Black Knight ’s mortgage monitor report. Equity among mortgaged homes dropped by about $1.5

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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.

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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

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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. All of the markets were on the West Coast including eight in California.

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Homepoint dives into HELOCs as home equity levels remain high

Housing Wire

Despite increased competition, wholesale lender Homepoint has rolled out a new home equity line of credit (HELOC) product. The goal is to court more brokers at a time when home equity levels remain high. . While equity among mortgaged homes dropped by about $1.5

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Almost 45% of homeowners are now equity rich

Housing Wire

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. The portion of mortgaged homes that were equity rich rose from 41.9%

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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.

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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.

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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.

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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.

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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. .

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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.

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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. Unison expects to bring three additional securitization deals to market in 2022, according to a company executive.

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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%

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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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3 Ways You Can Use Your Home Equity

Keeping Current Matters

If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. For Sellers Housing Market Updates Move-Up Buyers

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Community, building equity important for young homebuyers

Housing Wire

A homebuyer’s guide to a competitive housing market. The housing market is extremely competitive right now. In the past 12 months, housing markets across the country have seen a heavy influx of new homebuyers as well as existing owners looking to renovate or add square footage.

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How can lenders reduce costs in the home equity space?

Housing Wire

As the mortgage industry faces the realities of rising interest rates, savvy lenders are shifting gears towards the potential profitability of home equity lending. Paul Harris : Home equity lending can look different for many reasons.

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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 371

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%.

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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.

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Cash-out refis starting to slow despite equity gains

Housing Wire

HousingWire recently spoke with Jon Gerretsen, SitusAMC Managing Director of Residential New Originations and Fulfillment Services, about the home buying boom and how lenders can gain market share and drive profitability in a white-hot purchase mortgage market.

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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.

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Home Equity: A Source of Strength for Homeowners Today

Keeping Current Matters

Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. For Sellers Foreclosures Housing Market Updates

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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.

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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.

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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.

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

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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.

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Homeowner Wealth Increases Through Growing Equity This Year

Keeping Current Matters

But home equity – the difference between the value of your home and what you currently owe – isn’t just built through your monthly principal payments. Home price appreciation plays a vital role in growing your equity and, ultimately, your wealth. homeowner equity has reached nearly $1.9

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The Average Homeowner Gained $64K in Equity over the Past Year

Keeping Current Matters

If you own a home, your net worth likely just got a big boost thanks to rising home equity. For Sellers Housing Market Updates Move-Up Buyers Pricing Content Hub

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