Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. mortgage rate at the end of August. “At There are alternative ways to tap into home equity without doing a cash-out refi.

Mortgages 471

Mortgages FHA loan Equity Loans 471

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. of banks reported weaker demand for HELOCs. There’s some optimism, however. The survey showed that a net 25.5%

Residential 470

Residential Lending Banks Mortgages 470

Housing Wire

MARCH 20, 2024

Figure Technology Solutions will focus on developing and distributing its proprietary, technology-enabled platform to partners and investors in the home equity lending ecosystem, the fintech firm announced earlier this week. JP Morgan Chase & Co. and Jefferies Financial Group Inc. — to take its lending division, LendCo , public.

Lending 381

Lending Equity Technology Banks 381

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. In terms of dollar volume, there was an estimated $251 billion in HELOC originations during all of 2022, up from $182 billion in 2021.

Lending 344

Lending Technology Pre-approval Equity 344

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom. over asking price.

Equity 515

Equity Marketing Loans Bankruptcy 515

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%

Equity 315

Equity Renovation Loans Investor 315

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

Equity 367

Equity Marketing Debt-to-income ratio Lending 367

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Equity 423

Equity Lending Fixed-rate mortgage Loans 423

Housing Wire

SEPTEMBER 6, 2023

In the face of spiking interest rates and historically high home prices , $3,000 monthly mortgage payments are common in today’s housing market. It was up modestly from the first quarter of 2023 but just half the volume of the first quarter in 2022 ($79B), before rates began to rise. That share fell to just 0.4%

Equity 404

Equity Mortgages Principal Loans 404

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.

Equity 395

Equity Lending Banks Loans 395

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

Renovation 376

Renovation Fixed-rate mortgage Equity Finance 376

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. is estimated to be in the $2 billion to $3 billion range, a figure estimated by home equity investment companies.

Equity 407

Equity Finance Purchase and sale agreement Investor 407

Housing Wire

DECEMBER 5, 2022

Early this month, California fintech Achieve announced the closing of its first AAA-rated securitization backed by $175 million in home equity lines of credit. The HELOCs in the portfolio have an average seasoning of seven months and range from two to 33 months seasoned. Presented by: ServiceLink.

Closing 373

Closing Equity Loans Mortgages 373

Housing Wire

APRIL 12, 2024

Reverse mortgage industry professionals have spoken for months about the consequences of high interest rates on their ability to pursue business, and now AARP has taken a closer look at the impacts. There are so many people who can benefit from this today, even with the rates the way they are.”

Mortgages 381

Mortgages Equity Lending Industrial 381

Housing Wire

JULY 12, 2023

The collaboration with several of the country’s top independent mortgage banks is aimed at getting Figure’s home equity line of credit ( HELOC ) products in front of homeowners who have seen equity grow in recent years. Figure recently eclipsed over $6 billion in HELOC originations, the company said.

Equity 330

Equity Lending Technology Loans 330

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 According to CNBC, homeowner equity is an aggregate $9.9

Equity 390

Equity Fixed-rate mortgage Principal Mortgages 390

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 According to CNBC, homeowner equity is an aggregate $9.9

Equity 382

Equity Fixed-rate mortgage Principal Loans 382

Housing Wire

AUGUST 5, 2022

In recent months, interest rates have risen to their highest level in years as the Federal Reserve has embarked on an aggressive tightening campaign in an effort to fight inflation. Record levels of home equity. Cash-out refinance not a viable option. Customer experience.

Equity 385

Equity Lending Closing costs Mortgages 385

Housing Wire

AUGUST 1, 2022

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. . ” U.S. ” U.S.

Equity 382

Equity Loans Lending Banks 382

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs).

FHA loan 329

FHA loan Renovation Equity Loans 329

Housing Wire

MARCH 27, 2024

Securities and Exchange Commission (SEC) regarding the proposed initial public offering of its equity securities. The deal was scrapped due to higher interest rates and rising redemption rates, which point to how many investors are exchanging their shares to get their money back. after four years.

Technology 410

Technology Lending Equity Investor 410

Housing Wire

OCTOBER 2, 2023

Home prices continued to accelerate in August, rising a seasonally adjusted 0.68% from July and hitting another record high for the fourth consecutive month. This marks three months of clear acceleration in the rate of growth at the national level, with annual HPA up from 2.4%

Mortgages 406

Mortgages Equity Lending Principal 406

Housing Wire

AUGUST 24, 2022

Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market. UWM’s products announced Wednesday are available on primary and second home loans, with loans up to $350,000, according to the company’s website. They are not applicable in Texas.

Seller concession 379

Seller concession Equity Loans Mortgages 379

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 trillion at the end of this year.

Equity 357

Equity Lending Title search Title 357

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.

Equity 377

Equity Marketing Fixed-rate mortgage Finance 377

Housing Wire

FEBRUARY 17, 2023

This was due, at least in part, to higher mortgage rates resulting in higher monthly home loan payments. Homeowners also continued to tap into record-levels of equity in their homes during Q4, which could be an indicator that homeowners are relying more heavily on borrowing to keep up with debt and other financial obligations.

Mortgages 367

Mortgages Equity Loans Banks 367

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.

Equity 390

Equity Loans Banks Title 390

Housing Wire

JANUARY 5, 2023

This year, RMBS issuance volumes are expected to contract further from 2022 due to the impact from elevated rates, high inflation and recession possibilities. . Interest rate stability offers the best environment for MBS performance, and inflation reduces the demand that investors have for mortgage-backed bonds.

Marketing 428

Marketing Equity Loans Investor 428

Housing Wire

DECEMBER 1, 2022

Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Established at the start of 2022, Hitch will give qualified owners access to up to 90% of the equity locked in their homes, the company said Thursday.

Equity 418

Equity Renovation Banks Loans 418

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). The volume of HELOC loans declined by 17% to $60.1 Overall, HELOCS accounted for 20.7%

Equity 307

Equity Lending Finance Loans 307

Housing Wire

MARCH 29, 2024

The response rate by mortgage companies to consumer complaints stands at 99%, according to the bureau, and relevant companies “closed 92% of complaints with an explanation, 2% with monetary relief, and 3% with non-monetary relief,” the report stated. Department of Agriculture (USDA) loans and manufactured home loans (less than 1%).

Mortgages 355

Mortgages VA loan FHA loan Lending 355

Housing Wire

SEPTEMBER 13, 2022

Lending standards tightened in August amid a worsening economic outlook and signs of cooling in home-price growth. With a worsening economic outlook and signs of cooling in home-price growth, the appetite for riskier loan programs has been reduced,” Kan said. The mortgage credit availability index (MCAI) fell marginally by 0.5%

Lending 370

Lending Loans Equity Mortgages 370

Housing Wire

JUNE 29, 2022

The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings. “A Its rental pricing and projection model also calculates the rate of return an investment property is expected to produce over time. Presented by: ServiceLink.

Loans 351

Loans Equity Lending Mortgages 351

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. Hometap, as an investor, provides cash in exchange for a share of their home’s future value.

Equity 348

Equity Marketing Investor Loans 348

Housing Wire

MAY 3, 2022

Nonbank heavyweight loanDepot will unveil a home equity line of credit (HELOC) product in the third quarter of 2022, the first offering of its recently launched mello business unit. Fast-rising mortgage rates, recently cresting above 5% , have reduced refinance volumes by 70% year over year as of the end of April.

Equity 393

Equity Loan Officer Loans Technology 393

Housing Wire

SEPTEMBER 1, 2023

New York-based investment firm Cerberus Capital Management has entered into a definitive agreement to acquire home equity lender Spring EQ , the companies announced on Friday. The transaction will allow Cerberus executives to realize new opportunities as demand for home equity solutions in the U.S. accelerates.

Equity 379

Equity Loan Officer Residential Commercial 379

Housing Wire

APRIL 23, 2024

According to Martell , the mortgage market’s origination volume totaled $4 trillion in both 2020 and 2021, and “unfortunately” the decline in loan production “is not going to be cured by a 50-basis-point reduction” in mortgage rates. The company now has a digital HELOC offering.

Mortgages 301

Mortgages Technology Equity Renovation 301