Housing Wire

NOVEMBER 13, 2024

In today’s challenging market, higher interest rates and home values have created a unique opportunity for lenders to grow their home equity lending business. Despite the recent interest rate reduction , the demand for home equity products remains strong. According to ICE’s Mortgage Monitor , tappable home equity has grown by $5.5

Equity 363

Equity Lending Loans Renovation 363

Housing Wire

AUGUST 5, 2024

trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 On top of that, tappable home equity reached a new high of $11.5 roughly three in five — now have at least $100,000 in tappable home equity, which refers to the amount of equity they can access while maintaining a stable 20% equity “cushion.”

Equity 459

Equity Loans Mortgages Lending 459

Housing Wire

NOVEMBER 13, 2024

But some misconceptions about how the credit line is impacted by partial Home Equity Conversion Mortgage ( HECM ) prepayments was called out by Hultquist and McMinn. “Mr. Relationship between debt and equity McMinn continued with the next misconception, speaking again to a hypothetical borrower. Again, the whistle immediately rang out.

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Equity Mortgages Principal Loans 350

Housing Wire

SEPTEMBER 4, 2024

With elevated levels of home equity across the U.S., mortgage lenders are making home equity lending more accessible to reach more borrowers. One-quarter of these lenders offered accelerated closing options, including two lenders that advertised home equity funding in as little as one week. HELOCs accounted for $53.6

Equity 452

Equity Lending Banks Loans 452

Housing Wire

OCTOBER 25, 2024

In prior conversations with HousingWire ’s Reverse Mortgage Daily (RMD), leaders of equity sharing companies contend that their products are different from reverse mortgages largely because they are not debt-based instruments. First, that it is a reverse mortgage under the state’s Consumer Loan Act.

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Equity Mortgages Loans As-is 447

Housing Wire

JANUARY 9, 2024

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%. homeowners with outstanding mortgages — some 63% of all homes — home equity tied up in properties jumped by 6.8%

Equity 485

Equity Lending Banks Loans 485

Housing Wire

SEPTEMBER 1, 2022

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 move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

Housing Wire

JULY 29, 2024

Home equity lending in 2023 grew by only 1.5% The data includes total originations of open-ended home equity lines of credit (HELOCs) and closed-end home equity loans. Home equity originations were relatively flat in 2023 compared to 2022,” Walsh said in a statement. billion per company in 2023, compared with $2.1

Equity 423

Equity Lending Loans Renovation 423

Housing Wire

APRIL 19, 2024

A Freddie Mac home equity product that was proposed this week has the potential to unlock $850 billion in origination volume. The new product is an alternative to a traditional cash-out refinance, which requires refinancing the outstanding loan balance at current interest rates.

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Equity Finance Loans Banks 488

Housing Wire

AUGUST 1, 2024

Rapidly rising home prices are bad news for prospective buyers, but they’re proving quite beneficial for homeowner equity. of mortgaged homes were “equity-rich,” defined as having a loan balance of less than half of the estimated market value of those homes. It’s the lowest level since at least 2019. points), Missouri (7.2

Equity 482

Equity Mortgages Loans Marketing 482

Housing Wire

DECEMBER 3, 2023

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Rising equity levels are also contributing to low default and foreclosure activity. In 2024, roughly 75% of originations expected to come from purchase loans.

Equity 468

Equity VA loan FHA loan Mortgages 468

Housing Wire

AUGUST 12, 2024

The share of piggybacked Federal Housing Administration (FHA) home purchase loans rose by more than seven percentage points from June 2022 to June 2024, going from 10.8% for conventional purchase loans backed by Fannie Mae and Freddie Mac. The calculations were based on the number of purchase loans in CoreLogic public records.

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Loans FHA loan Equity Closing costs 475

Housing Wire

MAY 6, 2024

Nationwide equity on mortgaged homes soared to a record $16.9 trillion in the first quarter of 2024, with $11 trillion available for leverage while maintaining a 20% equity cushion — also an all-time high. homeowners with mortgages have tappable equity. trillion in tappable equity. trillion in tappable equity.

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Equity Mortgages Finance Loans 497

Housing Wire

MAY 15, 2024

Government-sponsored enterprise (GSE) Freddie Mac has put its finger on the scale of an emerging loan market that has been the domain of the private-label securities market, which has nurtured its reemergence in recent years. This provides homeowners with a cost-effective alternative for accessing the equity in their homes.”

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Equity Loans Investor Mortgages 473

Housing Wire

MARCH 7, 2024

homeowners with mortgages saw their home equity increase by 8.6% trillion, according to CoreLogic ’s newest homeowner equity report. Net homeowner equity totaled more than $16.6 By extension, at 43%, the average loan-to-value ratio of U.S. In January, home equity increased by 13.2% billion at the end of 2023.

Equity 494

Equity Mortgages Loans As-is 494

Housing Wire

MAY 21, 2024

Tapping into home equity , particularly for people in or near retirement , can be challenging — especially for those who may have a pressing need. With this product, eligible people 62 and older can extract equity in a variety of ways, say through a lump sum. But their equity is also a tool. Homes are trophies, sure.

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Equity Mortgages Principal Finance 457

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 However, given that home-equity originations were less than $0.5

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Equity Lending Title search Title 388

Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. The current stress in the CRE and C&I loan markets further highlights the advantages of residential mortgages.

Residential 483

Residential Equity Mortgages Purchase and sale agreement 483

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.

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Lending Equity Banks Loans 453

Housing Wire

MAY 13, 2024

Residential sale-leaseback platform EasyKnock has acquired the assets of home equity investment firm HomePace , the company exclusively told HousingWire on Monday. HomePace, founded in 2020, specializes in helping homeowners access their equity through home equity agreements. Meanwhile, more than 9 million U.S.

Equity 421

Equity Purchase and sale agreement Residential Investor 421

Housing Wire

MAY 15, 2024

Government-sponsored enterprise (GSE) Freddie Mac has put its finger on the scale of an emerging loan market that has been the domain of the private-label securities market, which has nurtured its reemergence in recent years. This provides homeowners with a cost-effective alternative for accessing the equity in their homes.”

Equity 420

Equity Marketing Loans Investor 420

Housing Wire

MAY 3, 2024

The dismal 2024 mortgage market has one very silver lining: $32 trillion in home equity. Compare that with $30 trillion in financeable equity — it dwarfs it. You have to think about how you monetize that equity,” Deitch said. You have to think about how you monetize that equity,” Deitch said. “So,

Equity 424

Equity Technology Loans Lending 424

Housing Wire

MARCH 26, 2024

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. How could they ever justify walking away from a loan with this low of an interest rate ?

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Equity Loans Bankruptcy As-is 459

Housing Wire

OCTOBER 5, 2023

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 a review of bond-rating and industry reports.

Equity 446

Equity Purchase and sale agreement Marketing Lending 446

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 373

Equity Renovation Loans Investor 373

Housing Wire

JUNE 20, 2024

Real estate technology firm Knock announced Thursday that its bridge loan product is being integrated into the borrower application process at Baltimore -based NFM Lending. The bridge loan estimate is being integrated into the lender’s workflow through an Encompass plugin. The loan includes no interest for six months.

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Lending Loans Loan Officer Equity 446

Housing Wire

JUNE 28, 2024

a provider of shared equity financing products, announced Thursday that it hired Paul Giangrande as a corporate executive vice president and president of its mortgage division. At AmeriCash, he oversaw more than 300 employees and helped the company close more than $18 billion in home loans. San Jose -based EquiFi Corp. ,

Equity 373

Equity Purchase and sale agreement Mortgages Finance 373

Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years. Assuming he put 3.5%

Equity 463

Equity Purchase and sale agreement Loans Mortgages 463

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. Lenders using Blend’s home equity product can offer personalized home equity loans and then close in a few days as opposed to multiple weeks it takes through legacy home equity processes, according to the firm.

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Equity Loans Banks Title 418

Housing Wire

APRIL 24, 2024

Seniors could choose to employ home equity through a reverse mortgage or other equity-tapping product to manage a series of expenses in retirement , but when it comes to managing their tax burden , it can get more complicated.

Equity 457

Equity Loans Finance Mortgages 457

HomeLight

AUGUST 6, 2024

homeowner is sitting on roughly $200,000 worth of equity. However, nearly half of homeowners don’t meet home equity loan requirements. What do lenders expect before they’ll approve you for an equity-backed loan? We’ll also provide real-world loan examples and a list of alternative options that might work for you.

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Equity Loans Lending Finance 115

HomeLight

SEPTEMBER 16, 2024

As a result, you might be sitting on a significant amount of home equity, and you’re not alone — U.S. homeowners collectively hold around $32 trillion in equity. If you’re planning to make home improvements, consolidate debt, or cover other expenses, you may be wondering, “How do I get a home equity loan?”

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Equity Loans Loan Officer Lending 110

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. The annual investment volume in the U.S.

Equity 459

Equity Finance Purchase and sale agreement Investor 459

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.

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Equity Marketing Fixed-rate mortgage Finance 396

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.

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Equity Loans Lending Banks 397

Housing Wire

JUNE 5, 2024

Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).

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Loans Finance Renovation Equity 529

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

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Loans FHA loan Equity Mortgages 485