October 17, 2024
Quarterly home-equity originations held up at The Huntington National Bank, and home-equity assets continued to grow. The financial institution raised the yield and credit quality on its home-equity portfolio from a year ago.
October 17, 2024
For the first time in six consecutive quarters, spending on home remodeling is expected to rise on a year-over-year basis. Still, optimism among remodeling contractors was lower.
October 16, 2024
Junior-lien home-equity assets at U.S. Bank, N.A., grew by almost $0.5 billion this past year despite a nearly $1 billion contraction in the first-lien home-equity portfolio. Staffing was cut by 5,000, and nearly a hundred branches were eliminated.
October 16, 2024
Citizens Bank continued to add more home-equity assets to its balance sheet, and the yield on that portfolio has risen 25 basis points over the past year.
October 15, 2024
For the second quarter in a row, PNC Bank, N.A., has increased the size of its home-equity investment portfolio, which consists mainly of open-end home-equity products.
Splitero is taking advantage of vibrant capital markets and raising capital from a $3.6 billion alternative asset investment firm to fund the origination of additional home-equity investment contracts.
Residential mortgage-backed securities being issued this month that contain closed-end second liens originated by Rocket Mortgage LLC have the lowest weighted-average coupon of any CES deal in more than two years.
A planned securitization this month of closed-end second mortgages includes loans originated by NewRez LLC, PennyMac Loan Services LLC and Nationstar Mortgage LLC.
October 15, 2024
Home equity originations at Bank of America, N.A., dipped, and the digital share of new lending diminished. But the lender's equity position improved, credit scores were higher, and the yield on its portfolio was 44 basis points better than a year ago. The depository has reversed an ongoing industry trend of...
October 14, 2024
With the recent launch of a new service that utilizes artificial intelligence, originators and sellers of home-equity lines of credit can spend less time on manual tasks, reduce expenses and lift lending levels. A pair of banks are providing below-market junior liens, as is Fargo, North Dakota. Homeowners may soon...
October 10, 2024
As home prices have soared in California, so have closed-end home-equity originations. In fact, among all the top metropolitan areas for home-equity lending this year, a majority are in the Golden State -- a sharp reversal from last year.
October 9, 2024
On a linked-quarter basis, interest rates on closed-end home equity loans owned by the nation's banks moved higher. But on closed-end product that is on the balance sheets of credit unions, rates retreated.
October 8, 2024
A securitization of home-equity lines of credit by Figure Lending LLC includes some first-lien HELOCs. The weighted-average coupon on the residential mortgage-backed securities is the lowest for a Figure deal since June 2023.
The HELN Newsletter
May 13, 2024
By RALPH ARMENTA What is the fastest-growing segment in the mortgage industry today? Keep reading and I think you will agree that the following will help you reach the same conclusion I did.