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  • Freddie Mac takes aim at FHA with widespread expansion of 3% down mortgages

    It’s been more than three years since Freddie Mac rolled out a conventional mortgage that only required a 3% down payment for certain borrowers. But now, Freddie Mac is about to supercharge its 3% down program and launch a widespread expansion of the offering that puts Freddie Mac in direct competition for mortgage business with the FHA. Click the headline for the full story.

Items Tagged with 'HELOC'

ARTICLES

  • 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.
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  • 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.
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  • LendingLife first look: Veros, Valligent partnership promises to cut costs for mortgage lenders

    More accurate AVMs will help lower HELOC origination costs
    As a supporter of LendingLife, Veros agreed to give us a first look at their latest partnership they say will lower costs for mortgage lenders, by taking some of the legwork out of valuations. Being officially announced later today, Veros is teaming up with Valligent, a known innovator in non-traditional appraisals. Here's their plan.
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  • 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.
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  • Tappable mortgage equity hit all-time high in 2017

    More than 80% of borrowers now have equity available
    The amount of tappable mortgage equity increased in 2017 to an all-time high. In fact, Black Knight’s latest report shows currently, more than 80% of all mortgage holders now have available equity to tap via cash-out refinances or HELOCs.
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  • 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.
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  • When should you use a reverse mortgage to pay for home modifications?

    How to use your home equity for home improvements
    [Commentary] One big advantage of a reverse mortgage is its flexible repayment feature: there’s no minimum monthly principal and interest payment — the borrowers can choose to make monthly loan payments, or defer repayment until they sell the home or don’t live in it anymore. But, it's not for everyone. Here are some of the benefits and hazards to using the product.
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  • CBA LIVE: Your customers are ready for loan offers through your mobile app

    But, are you ready to offer it?
    The lending industry is now starting to take technology to the next level, moving from focusing on the user interface to advances in automation and analytics. Attendees gathered at the Consumer Bankers Association’s CBA LIVE conference to get the latest update on the current advances in technology. But in one session, panelists turned the questions toward the audience to see what they thought.
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  • Homeowners fuel HELOC boom as home prices soar

    Home equity loans up 21% in past two years
    Home equity lines of credit are on the rise as increasing home prices bring a wealth of equity back into homeowners’ hands. But experts explain why despite this increase, and a decrease in down payment percentage, lending is still much safer than the housing boom days.
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