California’s fourth biggest home lender among credit unions is adopting a new loan origination system for its open-end and closed-end home-equity lending as well as its traditional first mortgage business.
Credit Union News
Credit Union News about Home-Equity Lending
CEO: Automated Marketing Boosts HELOC Sales Sixfold
A marketing service provider for credit unions says that automated and omnichannel marketing can help the financial institutions achieve “a sixfold increase” in home-equity line-of-credit sales.
Spread Between Bank, Credit Union CES Rates Widens
The quarterly spread between interest rates on closed-end second mortgages at banks and credit unions ballooned to 28 basis points. Even the spread on open-end home loan rates was broader between the two depository types.
Credit Union Home Equity Share Widens, HELOC Rates Plunge
Credit unions have grown their loan portfolios by nearly 6% during the past year, and the share of home-equity assets in those portfolios has broadened by 1.3 percentage points. Interest rates on home-equity lines of credit plunged 170 basis points over the 12-month period.
100% LTV HELOC Lenders
Home-equity lines of credit that allow combined loan-to-value ratios of up to 100 percent are available at a number of lending institutions identified by Home Equity Lending News, and all of them are credit unions.
HELOC Bandit Danielle Cappetti Captured, Indicted
Danielle Cappetti, who is accused of stealing “large sums of cash” from home-equity lines of credit on the balance sheets of East Coast credit unions, has been captured and indicted along with several co-conspirators.
Rocket Tops Home Equity SEO, Point Tops HEi SEO
When it comes to home-equity search phrases, Rocket Mortgage LLC has overtaken U.S. Bank as the lender with the best search engine optimization. On the home-equity investment side, Point was engaged in the most successful SEO strategy.
Introduction to Home Equity
FREEBy SAM GARCIA Facing declining originations because of high interest rates, traditional first mortgage lenders — who are losing more than $2,000 for each loan they make — are exploring opportunities in the home-equity market. There are three distinct product types for them to consider. While home-equity products were all but abandoned following the Great Financial Crisis, banks slowly returned — […]
TX Credit Union Adopting Home Equity Platform
An $18 billion Lone Star credit union is adopting a home-equity lending platform that will help it improve the borrower experience, reduce turnaround, and save money.
Encompass Integration Automates, Accelerates HELOC & CES Lending
Bank and non-bank home-equity originators are expected to benefit from an integration with Encompass that automates and speeds up the lending process for open-end and closed-end products. It’s the latest in a series of home-equity technology integrations.
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