July 25, 2024
Banks that are the largest home-equity lenders reduced the home-equity portions of their investment portfolios from a year earlier. KeyBank led the cuts, followed by Truist and PNC Bank. But Citizens expanded its portfolio by more than $1 billion.
July 24, 2024
Yields on banks' home-equity portfolios have ascended 66 basis points over the past year, though financial institutions like Fifth Third Bank, N.A., and Bank of America, N.A., experienced added escalation. KeyBank had the lowest yield.
July 23, 2024
Home-equity lines of credit in the investment portfolios of commercial banks continued to expand on a year-over-year basis. The increase came despite a $5 billion contraction at large banks -- with smaller institutions seeing over $7 billion in growth.
July 22, 2024
Even though year-over-year declines are expected in remodeling activity for the foreseeable future, an improvement in the outlook for remodeling spending during the current quarter has been reported.
July 22, 2024
While there wasn't much change in the home-equity portfolio at Fifth Third Bank, N.A., the yield on the portfolio has ascended nearly 1 percentage point during the past year.
Truist Bank's home-equity holdings have been reduced by more than $500 million during the past four quarters, while the home-equity yield was up 76 basis points. As its insurance subsidiary was sold, it saw nearly $7 billion in losses from the repositioning of securities on its balance sheet -- though it still eked out an overall profit. Year-over-year staffing at the bank-holding company level was down by more than 10,000 positions.
Cornerstone Capital Bank, SSA's, sub-servicing subsidiary has been rated for servicing home-equity and junior-lien products.
Nearly half of the loans in an upcoming securitization that contains some closed-end second mortgages are secured by residential properties located in the Golden State.
July 19, 2024
A bump in home-equity lending was recorded by The Huntington National Bank. Credit quality metrics on the originations improved from last year, though home-equity delinquency has still worsened by 0.51 percentage points over the past four quarters. The financial institution has reduced its holdings of home-equity lines of credit and...
July 18, 2024
Average quarterly interest rates on credit unions' home-equity lines of credit retreated, while HELOC rates at banks escalated -- causing the spread between the two rates to widen. The spread also widened on closed-end second lien rates.
July 18, 2024
KeyBank has slashed it home-equity investment portfolio by $800 million during the past year even as the yield on the assets has risen. More than 1,100 positions have been eliminated by the bank-holding company in that same period.
July 18, 2024
Citizens Bank boosted its home-equity holdings by more than $1 billion over the past four quarters. During that same period, it has lifted the yield on that portfolio by 61 basis points. But delinquency has deteriorated 22 BPS.
July 18, 2024
Even though demand for overall consumer loans has softened at banks, the latest Beige Book from the Federal Reserve System indicates that demand for home-equity products has continued to strengthen.
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.