Home Equity Lending News

CUSO Offers Piggyback HELOC 120 Days After 1st Closes

A credit union service organization has launched a post-close piggyback home-equity line of credit that is available for up to four months after the first mortgage closed.

Credit unions that have had a new first mortgage close within the past 120 days can now obtain a post-close piggyback HELOC from Symmetry Lending.

The Atlanta-based CUSO said in a social media post that its new piggyback enables credit unions to submit HELOC requests after the first mortgage closing, and the second mortgage will still be underwritten, priced and processed as a piggyback transaction.

Symmetry says that its credit union client-partners are located across the country.

“Symmetry’s dedicated focus on HELOCs, combined with a leadership team of seasoned industry experts, is the backbone of our commitment to Service, Speed, and Simplicity,” the technology-based company says on its website.