Winners in a Bad Year
Massachusetts banks, credit unions and mortgage companies all took major hits in residential lending, but there were a few brights spots that helped some lenders come out on top.
More Homeowners Tap Equity Juiced by Soaring Prices
Homeowners are increasingly tapping their equity, taking advantage of big gains following years of soaring housing prices.
Non-Bank Lenders Move into HELOC Space
While banks and credit unions have long dominated the market for home equity lines of credit, Massachusetts has seen other lenders – both familiar and new – make headway in the second mortgage market amid rapid changes to the industry.
Boston Home Equity Fintech Secures $100M Financing
Hometap, a Boston-based fintech that provides an alternative for tapping into home equity without taking on debt, has secured $100 million in new financing.
Banks Could See Opportunity in HELOCs, Report Finds
Home equity lines of credit could be a major opportunity for lenders in coming years because many homeowners simply don’t know what they are.
Booming Home Equity: Financial Opportunity or Warning Sign?
If you’ve got it, don’t piggybank it – borrow against it.
Home Renovation Spending Strong in Q1, Expected to Continue
The robust pace of spending on home renovations and repairs is expected to stay strong over the coming quarters, according to the Leading Indicator of Remodeling Activity released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Equity-Affluent Americans Have Options
Americans are awash in record amounts of equity in their homes, posing the question for millions: So what do we do with it?
A Catastrophic Disruption
Last week it was mortgage lenders deservedly fretting about the future of their industry; this week it’s HELOC and home equity loan originators.
After Tax Reform, HELOC Demand Uncertain
Now that the recently enacted tax reform bill has eliminated the interest deduction for home equity loans, it is hard to predict how the product will perform going forward.
A Change Could Do You Good
A different method of compensation for HELOC originations might give some banks and credit unions a strong advantage over non-depository institutions. So why aren’t any institutions trying this?
Home Equity Loans Are Back In Style
An article posted on realtormag.com last week reports that more homeowners are tapping into their home equity. Loan originations rose 8 percent to almost $46 billion in the second quarter of 2017, the highest level since 2008, according to Equifax.
CFPB Increases HMDA HELOC Reporting Threshold
Community banks and credit unions will enjoy some regulatory relief after the Consumer Financial Protection Bureau yesterday amended the Home Mortgage Disclosure Act to up the reporting threshold regarding home equity lines of credit.
CFPB HELOC Update A Boon For Credit Unions
Many credit unions in Massachusetts will no longer have to report home equity line of credit (HELOC) data to federal regulators after the U.S. consumer watchdog agency earlier this week vowed to raise the reporting threshold.
Challenges With Massachusetts’ Regulations: Tripping Points With HELOCs
Lenders always expect HELOCs to be simpler than closed-end mortgages.
HMDA 2018: Five Question Quiz
Senior management and the boards of directors are ultimately responsible for an institution’s compliance.
TD Bank Survey Finds Homeowners Are Interested In HELOCs For Renovations
Consumers have been reluctant to start home...
