Items Tagged with 'Home equity line of credit'

ARTICLES

  • Overall share of equity withdrawals drops to 4-year low

    Just over 1% of available equity was tapped last quarter
    American homeowners have record amounts of equity in their homes, $5.8 trillion to be exact. But the percentage of tappable equity withdrawn fell in the first quarter of 2018 to the lowest share in four years as higher interest rates impact borrowers' decisions.
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  • HELOC use is on the rise

    More Americans are tapping their home equity
    For most homeowners, a good portion of their money is tied up in their house. But a sizable number are no longer content to sit on that nest egg and watch it grow. They want cash – now – and they’re tapping their home equity to get it.
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  • 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.
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  • 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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  • 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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  • 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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  • LendingTree unveils its own Zestimate-style home valuation tool

    Will help users identify when they have “actionable” home equity
    Consumer-facing home valuation tools, especially Zillow’s “Zestimate”, have long been a source of consternation in the housing industry. And while Zillow’s tool is mainly designed for people looking to buy or sell a home, there’s a new home valuation tool on the market for people looking to buy, sell, or mainly to refinance their mortgage. The company behind the new valuation tool: LendingTree.
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  • As home equity loans rise, here's the latest pulse on delinquencies

    Hint: The housing market is improving
    The market is starting to welcome home equity lines of credit back into the fold after a long hiatus stemming from the financial crisis. Given their growing prominence, a new report from the American Bankers Association’s Consumer Credit Delinquency Bulletin gives a current pulse on the health of home equity lines of credit by looking at delinquencies.
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  • CBA LIVE: HMDA compliance will be here faster than you think

    Advice on prepping HELOC loans for HMDA
    Even at an overview level, the new Home Mortgage Disclosure Act is intensive, as evidenced by the insights of two panelists at the Consumer Bankers Association’s CBA LIVE conference, who zeroed in on the new act’s impact on home equity lines of credit. Up until this point, there haven’t been any major changes to HELOCs.
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