Items Tagged with 'Home equity'

ARTICLES

  • Point secures $150 million commitment to buy equity from homeowners

    Atalaya Capital Management agrees to buy $150 million in shared equity investments
    Point, a financial technology platform that offers homeowners the opportunity take equity out of their home without taking on new debt, is set to grow thanks to a $150 million commitment from Atalaya Capital Management, a private investment firm. Under the agreement, Atalaya and Point entered into a forward flow purchase program wherein the investment firm is committing to buy as much as $150 million of Point’s shared equity instruments.
    Read More
  • JPMorgan Chase picks Black Knight to power its home equity originations

    Will use LoanSphere Empower to originate home equity loans
    JPMorgan Chase may be using Roostify to power its digital mortgage application process on the front-end, but the megabank will be using Black Knight to power its home equity loan originations. Black Knight announced Wednesday that JPMorgan Chase will be using its LoanSphere Empower loan origination system as the backbone of the bank’s home equity originations business.
    Read More
  • J.D. Power: Time to prepare for upcoming HELOC boom

    Number of Americans taking out HELOCs projected to double
    As home prices, and therefore homeowner equity rises, consumers who wish to take out a home equity line of credit are expected to double over the next five years. In order to capitalize on the growing HELOC trend, J.D. Power explained lenders will need to increase their digital offerings.
    Read More
  • Freddie Mac: Homeowners rack up record amounts of equity

    And home prices expected to keep rising
    Home prices have continued to surge since the last recession, leaving homeowners with record amounts of home equity. Freddie Mac explained increasing home prices are helping many current homeowners build equity, while making it more difficult for many first-time homebuyers to achieve homeownership.
    Read More
  • Former SoFi CEO Mike Cagney founds new lending startup, pivots to blockchain

    Figure will specialize in home equity lending
    After abruptly resigning from SoFi amid a swirling controversy about the workplace culture at the online lender, Mike Cagney has resurfaced… and he’s pivoting to blockchain. Cagney helped found a new lending startup called Figure, which will apparently be specializing in home equity lending with blockchain technology serving as a key component of the company’s business plan.
    Read More
  • IRS: Interest paid on home equity loans is still deductible under new tax plan

    But not in every case
    The country’s new tax laws, ushered in by President Donald Trump and his Republican counterparts late last year, will bring many changes to the mortgage industry. Namely, the plan reduces the available mortgage interest deduction from $1 million to $750,000. But what’s the impact of the tax plan on home equity loans, home equity lines of credit, and second mortgages? The IRS has answers.
    Read More
  • [Charts] Home equity wealth hits new high in November

    Next year to see another all-time high
    As home prices rise across the U.S., so does home equity wealth. CoreLogic’s data shows home equity wealth hit an all-new high as it increased $6 trillion since the last recession. And it doesn’t stop there – CoreLogic forecasted 2018 will see yet another all-time high.
    Read More
  • Texas may finally change home equity lending laws

    Time to head to the polls
    After a lot of legwork from the industry, Texans finally have the opportunity to significantly change the state’s home equity lending market next week as people head to the polls on Election Day. Steven Kubik, founder and attorney at Kubik Law Firm, explains what these amendments mean for the state.
    Read More
  • HELOC originations set to double over next 5 years

    Home equity surpasses housing boom levels
    Home prices continue to rise, causing them to surpass housing boom levels. But despite this jump in equity, home equity lines of credit are still lagging. However, a new report from TransUnion shows HELOC originations are set to double over the next five years.
    Read More
  • Homeowners gained nearly $13,000 in equity from last year

    Home price increases driving up gains
    Homeowners with mortgages continue to see their equity increase in their home. Individually, homeowners earned an average $12,987 in equity between the second quarter of 2016 and the second quarter of this year, but in Western states, this number is much higher.
    Read More