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 447

Equity Lending Loans Renovation 447

Housing Wire

OCTOBER 10, 2024

What do you get when you combine home renovation specialists with a lender that can provide funds in short order? The new partnership between HouseAmp and Renovation Sells. The Renovation Sells platform focuses on design and construction, while the loans come from HouseAmp.

Renovation 435

Renovation Finance Equity Technology 435

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.

Lending 475

Lending Equity Banks Loans 475

Housing Wire

JANUARY 30, 2025

We’re looking at product expansions and introducing products that we have or through our sister company Anchor Home Loans , which specializes in residential transition loans (RTLs). If you’re a loan officer, you should have a construction product that focuses on builders, developers and Realtors.

New Construction 312

New Construction Construction Marketing Equity 312

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 424

Equity Renovation Loans Investor 424

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).

Loans 529

Loans Finance Renovation Equity 529

Housing Wire

FEBRUARY 20, 2025

Digital homeownership company Better.com on Thursday announced a record 400% growth in its home equity line of credit ( HELOC ) and home equity loan businesses. were considered “equity rich” in Q4 2024, meaning that the underlying mortgage debt did not exceed 50% of the home’s market value.

Equity 302

Equity Investor Lending Renovation 302

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 397

Equity Loans Lending Banks 397

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. AscentDS product offerings will include short-term loans to acquire, renovate or build single-family and multifamily properties, as well as post-completion bridge financing.

Construction 459

Construction Development Loans Lending 459

Housing Wire

MARCH 18, 2022

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents. The partner smiled. “

Loans 524

Loans Closing Mortgages Equity 524

Housing Wire

AUGUST 22, 2022

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.” He’s entering a bright space: home equity products have become more popular given the surging value of homes used as collateral. Presented by: ServiceLink.

Equity 370

Equity MLS Renovation Loans 370

Housing Wire

MAY 1, 2023

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 396

Loans Lending Finance Renovation 396

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. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Keeping Current Matters

OCTOBER 13, 2021

If you’re a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. The difference in the cost of a renovation versus a purchase. The great news is that the money you need probably already exists in your current home in the form of equity.

Renovation 326

Renovation Equity Mortgages Design 326

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). Presented by: Auction.com.

FHA loan 370

FHA loan Renovation Equity Loans 370

Housing Wire

SEPTEMBER 4, 2024

Guild Mortgage announced on Wednesday the introduction of a new product line called the “ Flex Payment Mortgage ,” which includes Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages ( HECMs ), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.

Mortgages 448

Mortgages Equity Loans Principal 448

Housing Wire

FEBRUARY 3, 2023

And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are considering tapping into their home’s rising equity while protecting their existing, low mortgage rates. So, it’s imperative to speak with a lender.

Renovation 397

Renovation Fixed-rate mortgage Equity Finance 397

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 We’ll probably trade a little over $1.2

Equity 459

Equity Lending Fixed-rate mortgage Loans 459

Housing Wire

JULY 19, 2024

We specialize in non-agency loans, including bank statement loans, government lending, new construction and renovation products, and HELOCs , positioning us as a leader in the industry.” ” Our success is driven by our exceptional team and an expansive product portfolio.

Lending 465

Lending New Construction Renovation Banks 465

Housing Wire

JUNE 14, 2024

Recent stagnation in refinancing loans, coupled with supply and demand discrepancies in housing, means originators still find themselves in an increasingly competitive landscape despite having expectations of the worst being over. However, a record $17 trillion of home equity is still available in the market.

Loans 448

Loans Banks Equity Development 448

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. ” Prospective borrowers can talk to a licensed loan officer if they prefer during the approval process, however. .

Equity 418

Equity Loan Officer Loans Technology 418

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 468

Equity Renovation Banks Loans 468

Housing Wire

NOVEMBER 21, 2023

California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England. The group will be branded as Shamrock, Powered by CMG Home Loans. 21, NMLS showed the lender had eight loan officers and 13 branches. year over year.

Loan Officer 448

Loan Officer Lending Loans Finance 448

Housing Wire

SEPTEMBER 19, 2024

Over the course of the past fiscal year, Heartland has seen its reverse mortgage portfolio grow by roughly 20%, with borrowers increasingly open to loans with terms described by the bank as more conservative. Nearly one-third of borrowers (31%) describe “additional income” as the reason for obtaining their loans. billion USD.

Mortgages 448

Mortgages Banks Finance Branding 448

Housing Wire

MAY 22, 2024

Some of the chains reporting increased renovation and modification activity include The Home Depot and Lowe’s , two of the largest home improvement retailers in the U.S. This means that renovations of existing homes are likely to become more necessary as time goes on.

Renovation 459

Renovation Equity Design Branding 459

Housing Wire

JULY 8, 2024

We are pleased to partner with Shawn and the Archwest team to deliver dynamic financing solutions to home builders , renovators and landlords who are expanding and improving the critically undersupplied U.S. Its product mix includes fix-and-flip loans, bridge loans and construction loans.

Residential 435

Residential Lending Finance Investor 435

Housing Wire

JUNE 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

AUGUST 27, 2021

Renovations Can Be Beneficial. This means you can potentially increase your home’s equity and lower your loan-to-value ratio. Renovations might make you feel better about putting your home on the market one day. Average cost: $26,214 Average resale value: $18,927 Cost recouped: 72.2%. Sliding Replacement. Bottom Line.

Renovation 459

Renovation Equity Loans Closing 459

Housing Wire

FEBRUARY 28, 2024

TF: A significant amount of volume could be added to an originator’s bottom line simply by offering Bank Statement loans, DSCR cash flow loans, and a stand-alone second lien product such as our Equity Advantage loan. Our DSCR loan for real estate investors qualifies on the rental cash flow of the subject property.

Debt-to-income ratio 458

Debt-to-income ratio Mortgages Banks Investor 458

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year.

Loans 435

Loans Renovation Construction Mortgages 435

Housing Wire

MAY 5, 2022

million to build and renovate 130 affordable homes in Nashville, Tennessee, bringing the total investment in the city to about $100 million. Amazon Housing Equity Fund will allocate a $7.1 million grant to local nonprofit CrossBridge ‘s 84-unit housing project, where 50 units will be newly built and the other 34 units renovated.

Equity 370

Equity Renovation Loans Development 370

Housing Wire

JANUARY 12, 2024

The original reporting described the amount of the loan as nearly one-fifth higher than the current $4 million limit for “HomeSafe,” the private-label product offered by FOA’s reverse mortgage division Finance of America Reverse (FAR). The company later told RMD, however, that the loan was within current product lending limits.

Mortgages 459

Mortgages Finance Lending Equity 459

Housing Wire

JUNE 20, 2024

The 2017 law also made interest from home equity loans non-deductible except for when the money is applied to home improvements or renovations. The eligible deduction was lowered from total mortgage balances of $1 million under prior law to $750,000.

Mortgages 497

Mortgages Renovation Equity Loans 497

Housing Wire

DECEMBER 2, 2022

Lenders who accurately predict the moment in time when a customer might require access to their home’s equity can act immediately and establish themselves as the ideal choice. The combined volume of home equity lines of credit (HELOCs) and traditional closed-end home equity loans are up 47% from January to May 2022.

Marketing 418

Marketing Equity Loans Renovation 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 367

Equity Lending Finance Loans 367

Housing Wire

JULY 10, 2024

But when the apartment’s landlord declared that all units in the building would be renovated and force all current tenants out, the clock began ticking for a solution. Ultimately, after gaining a senior living waiver from the state of California , the family sought to find a better arrangement.

Mortgages 476

Mortgages Construction Renovation Loans 476