Fannie Mae's new servicing guide includes latest requirements for servicers of second-lien mortgage loans it owns. Agency junior-lien servicing can be a capital-intensive enterprise. https://lnkd.in/g9AtTp4q
Home Equity Lending News
Internet News
Laguna Beach, California 2,703 followers
News/data about jr lien & home-equity products including HELs, HELOCs, equity sharing, purchase 2nds & renovation loans.
About us
Home Equity Lending News LLC is the leading source of breaking news & statistics exclusively about home-equity and junior-lien products - including home-equity loans, home-equity lines of credit, home equity investments, purchase-money seconds, and home-improvement loans. Our coverage caters to retail lenders, third-party originators, correspondent investors, securitization players, servicers, attorneys, and other home-equity stakeholders. Frequently covered home-equity topics include market metrics and forecasts, RMBS issuance, and technology updates as well as equity-sharing products. We also analyze and report on quarterly earnings data for home-equity originations, outstandings and performance by individual company. In addition to reporting daily news, HELN collects and curates statistics it reports in its Statistics Tables and categorizes home-equity firms it reports on in its Companies Tables that include home-equity lenders, servicers and service providers. Our free daily reports are available via personal computers, mobile devices and email, and the news is delivered through an intuitive platform that enables readers to experience a distraction-free deep dive into the inner workings of second-mortgage lending. HELN was founded in 2022 by its CEO, Sam Garcia, a mortgage media pioneer and former mortgage banker who originated his first HEL shortly after high school. In 1998, Garcia founded Mortgage Daily, the mortgage industry’s first-ever online-only news publication, where he served as publisher until its sale in 2021. That excellent experience helps him in leading HELN today.
- Website
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http://www.HEL.News
External link for Home Equity Lending News
- Industry
- Internet News
- Company size
- 11-50 employees
- Headquarters
- Laguna Beach, California
- Type
- Privately Held
- Founded
- 2022
- Specialties
- mortgage, home equity, HEL, HELOC, 2nd mortgage, junior lien, origination, servicing, statistics, RMBS, newsletter, news, technology, advertising, HEI, shared equity, capital markets, equity sharing, and HEi
Locations
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Primary
580 Broadway St
206C
Laguna Beach, California 92651, US
Employees at Home Equity Lending News
Updates
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Prospective home-equity borrowers are slowly adapting to higher interest rates, according to the Q2 2024 Home Equity Study. On securitized loans, WACs declined more than 30 BPS over the past year. WACs on CES RMBS tumbled, but WACs on HELOC RMBS rose. While bank HELOC yields were far lower than HELOC RMBS WACs, credit union yields were lower than at banks. One correspondent lender is paying up to 8% on home-equity production. https://lnkd.in/gZXx2E3Z
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An upcoming securitization of closed-end second mortgages will bring to 40 the number of bond issuances so far this year that contained home-equity products. Spring EQ, Nationstar Mortgage and PENNYMAC originated the loans. Morningstar DBRS is rating the deal. (subscription) https://lnkd.in/g448AezU
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Steven Rappoport writes that KBRA recently released a detailed report on the state of HEi contracts and how some are navigating the landscape. The report touches on issuance, legal interpretation, and servicing. (subscription) https://lnkd.in/gpeSJrMQ
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Angela Rose writes that a recent online panel discussion on home-equity lending highlighted automation, discussed faster turnaround, and revealed a trend of financial institutions moving their home-equity businesses into their mortgage divisions. The Mortgage Bankers Association's Marina Walsh, CMB said, “When you think of home equity as a business, sometimes it’s in consumer lending, sometimes it has its own division entirely." MBA's Jonathan Penniman said, "We’ve seen a continued move towards auto valuation methods." OnPoint Community Credit Union's Chris Folkerts said, “Our turn time on HELOCs can be a couple of days." FirstClose's Josh Livingston moderated the event. https://lnkd.in/g7bfAtRS
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With the expected closing of a primarily first mortgage RMBS containing loans that are mostly less than full documentation and have a heavy Golden State concentration, the number of first mortgage issuances this year that include some closed-end second liens will grow to 11. KBRA is rating the transaction. (subscription) https://lnkd.in/gisY6GAS
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RMBS filled with mostly junior-lien HELOCs is the fourth deal this year for Figure. Overall home-equity issuance this year is approaching $10 billion. (subscription) https://lnkd.in/g-9Mxt9p
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Nearly $5 billion in HELOCs have been added to banks’ loan portfolios over the past four quarters, according to the Federal Deposit Insurance Corporation (FDIC). Meantime, almost 30 banks were acquired — nearly doubling from the prior quarter — and credit unions were among the acquirers. (subscription) https://lnkd.in/g8GfzZ2b
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TransUnion reported that quarterly HELOC originations by fintechs shot up even as financial institutions saw a decline. Credit unions have widened their HELOC market share over the past year at the expense of banks. TransUnion's Jason Laky explained that “Despite a consumer credit market in which originations for many products remain below levels we saw two years ago, credit unions continue to see their total balances increase." https://lnkd.in/dpvE7g_e
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Are you a reporter with experience coverage real estate finance who knows AP Stylebook rules and the ability to generate social media activity? If so, you should consider applying for a freelance position with Home Equity Lending News -- a startup news publication that covers the growing home-equity lending industry. HELN publishes stories about second mortgage lending including capital markets, MBS transactions and industry statistics. Also within our beat is technology, litigation and forecasts.