Homeowners gain over $620 billion in equity in second quarter

Housing Wire

homeowners with mortgages witnessed a 6.6% 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.

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Community, building equity important for young homebuyers

Housing Wire

“It’s no surprise that 18- to 43-year-old prospective buyers are eager to swap unpredictable monthly rents with steady monthly mortgage payments,” Barkley said. “Nearly half — 46% — said that building equity is now more important than ever.

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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 392

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 316

Freddie Mac appoints new team to address housing equity

Housing Wire

Freddie Mac announced Wednesday the creation of new leadership roles in order to address equity in housing in single- and multifamily housing businesses. The post Freddie Mac appoints new team to address housing equity appeared first on HousingWire.

Equity 417

What is home equity and how can you use it?

The Mortgage Report

What is home equity and how does it work? Learn how to calculate your home equity and how having equity can benefit you.

How to give and receive a gift of equity: Rules and process

The Mortgage Report

A gift of equity can be a huge help when buying a home. Buying a home Essential Mortgage Miscellany Mortgage Strategy Tax Law For Mortgages appraised value fannie mae gift of equity fha gift of equity Gift Letter gift of equity gift of equity letter gift of equity tax gift tax market value

CBC Mortgage Agency names its first-ever diversity, equity and inclusion officer

Inman

The company tapped current Director of Government Affairs Tai Christensen to lead the company's diversity, equity and inclusion efforts alongside of committee of 15 employees.

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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.

Equity 204

CoStar and private equity group battle for CoreLogic

Housing Wire

Citing anonymous sources, Bloomberg reported that CoStar Group and a private equity group led by Warburg Pincus are currently competing for the data provider, though it is unclear if either have made an offer yet.

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Home Values, Owners’ Equity Rise in 2Q20

Eye on Housing

In the second quarter, the aggregate value of all household mortgages rose by $80 billion to $10.6 Read More › The post Home Values, Owners’ Equity Rise in 2Q20 first appeared on Eye On Housing.

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What is a home equity loan and how does it work?

The Mortgage Report

A home equity loan lets you cash-out your equity without replacing your current mortgage. Learn how home equity loans and home equity lines (HELOCs) work.

US home equity levels rose in Q3

Inman

Equity-rich properties made up about 28.3 percent of mortgaged homes in the U.S. during the third quarter, up from 26.7 percent the previous year.

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Homeowners are cashing out equity like it’s 2005

Inman

With home values soaring and mortgage rates still near historic lows, homeowners are cashing out home equity at volumes not seen since the height of the housing bubble.

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The Importance of Home Equity in Building Wealth

Keeping Current Matters

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”.

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Factors That Affect Home Equity

American Lifestyle

The post Factors That Affect Home Equity appeared first on American Lifestyle Magazine. Buying & Selling Equity Finance Financial Advice Home Advice Home Buying Home Loan Mortgage Real Estate Real Estate Agent Refinancing

HELOC vs. home equity loan: Which is right for you?

The Mortgage Report

HELOC vs home equity loan: Both types of second mortgage can tap home equity at a low rate, but which loan type is right for you? Home Equity Homeownership Topics

Equity-rich properties make gains in fourth quarter

Inman

The number of equity-rich homes in the U.S. made solid gains at the end of last year, and now account for more than 30 percent of mortgaged properties, according to a new report from Attom Data Solutions.

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Nationwide Equities fined $140K for alleged deceptive advertising

Inman

The Consumer Financial Protection Bureau says the lender "misled borrowers into believing they could not lose their homes with a reverse mortgage.". Mortgage Select CFPB Consumer Financial Protection Bureau Mortgage Acts and Practices Advertising rule Nationwide Equities reverse lending

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3 Ways Home Equity Can Have a Major Impact on Your Life

Keeping Current Matters

There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years. Home Equity Report , revealed that 30.2%

Equity 233

Equity Rich

BubbleInfo

Doubling in eight years, the number of local homeowners who have at least 50% equity is impressive. Mortgage News Property Tax Re-Assessment

What Are Home Equity Loans Used For?

Realty Biz

The home equity loan, in particular, uses equity—the value of your home minus the mortgage to give you the much-needed funds for certain expenses. Uses of Home Equity Loans. Home equity loans can fund home improvements while increasing the value of your home.

Equity 101

How DepositLink delivers on equity and excellence

Inman

Mortgage Sponsored ach darrell west depositlink digital transaction DTM earnest money escrow How DepositLink delivers on equity and excellence mortgage real estate title wire transferToday, DepositLink CFO and co-founder Darrell West is building a real estate tech company.

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Average homeowner gained $33,400 in equity last year: CoreLogic

Inman

The average annual equity gain from Q1 2020 to Q1 2021 for homeowners with mortgages is the highest in at least a decade, according to CoreLogic. Analysis Markets & Economy News Brief corelogic CoreLogic Homeowner Equity Report Dr. Frank Nothaft frank martell home equity

Private mortgage insurance industry boomed in 2020

Housing Wire

Private mortgage insurance helped over 2 million low downpayment borrowers secure mortgage financing in 2020, a 53% increase from 2019, according to data from the government sponsored entities. The private mortgage insurance industry also supported $600 billion in mortgage originations.

Ahead of its IPO, Caliber gives its private equity owner $300M in cash

Housing Wire

Lone Star Funds ‘ residential mortgage lender Caliber Home Loans hopes to raise up to $538 million at its highly anticipated public debut next week, according to documents filed with the Securities and Exchanges Commission on Wednesday.

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Why Now Is a Great Time to Tap Into Your Home’s Equity

American Lifestyle

The post Why Now Is a Great Time to Tap Into Your Home’s Equity appeared first on American Lifestyle Magazine.

Equity 101

Home Equity Gives Sellers Options in Today’s Market

Keeping Current Matters

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.

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Home Equity Give Sellers Options in Today’s Market

Keeping Current Matters

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates.

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Lenders pick up the pace in closing mortgages

Housing Wire

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans.

The growing support for female mortgage executives

Housing Wire

After speaking with several other female mortgage executives in celebration of International Women’s Day, I wanted to take the opportunity to highlight a few women leaders who are making waves. Mortgage servicers take steps to support borrowers amid COVID-19.

CoreLogic: Home Equity Rises Despite the Pandemic

RIS Media

CoreLogic® recently released the Home Equity Report for the second quarter of 2020. homeowners with mortgages (which account for roughly 63 percent of all properties) have seen their equity increase by 6.6 percent of all mortgaged properties.

Ginnie Mae will ban LIBOR-based mortgages

Housing Wire

Ginnie Mae , the government-owned corporation that securitizes loans backed by the Veterans Administration and the Federal Housing Administration , said it won’t accept adjustable-rate mortgages benchmarked to the London Interbank Offer Rate, or LIBOR, starting in January.

HUD goes after defunct mortgage modification firm

Housing Wire

Department of Housing and Urban Development (HUD) charged a now-defunct California business for allegedly targeting Hispanic homeowners with illegal and discriminatory mortgage modification services. owned the mortgage modification business. The U.S.

Should you refinance to a 15-year mortgage in 2021?

Housing Wire

For many middle-aged and older homeowners with several years of equity on their homes, 2021 could be a prime time to refinance from a 30-year fixed-rate mortgage into a 15-year mortgage. Why head into retirement with a mortgage?

AppraisalWorks integrates with ICE Mortgage Tech Platform

Housing Wire

Appraisal-management tech provider AppraisalWorks is now available through the ICE Mortgage Technology Platform , the company announced Tuesday. ICE Mortgage Technology, formerly known as Ellie Mae , is a cloud-based loan origination platform provider for the mortgage industry.

Should You Refinance Your Mortgage to Build Equity Faster?

RIS Media

Home equity is the difference between your house’s current market value and the amount you still owe on your mortgage. Speeding up the rate at which you pay down your loan balance can help you build equity faster. . How Can Refinancing Help You Build Home Equity?

United Wholesale Mortgage makes public debut

Housing Wire

After ringing the bell of the New York Stock Exchange on Friday morning, Mat Ishbia’s United Wholesale Mortgage (UWM) is a publicly traded company. UWM, the second-largest mortgage originator in America , debuted trading at $11.95.

Low, low mortgage rates make 19.4 million eligible for refi

Housing Wire

As mortgage rates sta y below 3% for the 17th consecutive week, a Black Knight report released Friday found that the number of “high quality” refinance candidates continues to climb. Looking at current mortgage rates, Black Knight estimates those 19.4

RoyaleLife CEO Robert Bull Warns of the Dangers of Early Equity Release

Realty Biz

Equity release may seem like a good strategy in the short term, but the CEO of the UK’s largest provider of bungalow living for the over 45’s warns that the practice is, for many people, not the ideal financial strategy. What Is Equity Release? The Disadvantages of Equity Release Plans.