A new white label offering for home-equity lines of credit is designed to address a critical gap for smaller lenders who find it challenging to profitably originate low-dollar loans. Home-equity investment products could be on the horizon for the platform.
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New Figure AI Chatbot for HELOCs Supports Lenders, Borrowers
A new chatbot powered by artificial intelligence has been unveiled by Figure Technology Solutions Inc. for open-end loans. Lender users are prompted with possible solutions, while prospective borrowers receive support outside of regular business hours.
Freddie Mac Seeks Approval to Acquire Second Mortgages
FREEBy SAM GARCIA Freddie Mac is asking its regulator to allow it to begin purchasing closed-end second mortgages — a move that it says will benefit borrowers and capital markets. While adding CES products could bring much-needed long-term liquidity to the home-equity capital markets, the primary trade association for mortgage-backed security stakeholders said the proposal represents “an unnecessary government encroachment.”
🔒HEi Provider Point Targeting Institutional Investors
Point Digital Finance Inc. has hired a seasoned capital markets executive to broaden its base of institutional investors for its home-equity investment products.
Button Paying Up to 8% on TPO, Sees 2024 Monthly Lending Quadrupling
By ANGELA ROSE Button Finance, a provider of full-service third-party origination products, is paying as much as 8% on home-equity production. Business has been good for the company, which expects to quadruple monthly volume this year.
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.
Survey Results a Good Sign for Home Equity Lending
Survey results from first mortgage behemoth Fannie Mae about consumer rate expectations are a good sign for originators of home-equity lending products.
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.
CES Overtakes HELOCs, Avg CLTV Lower Even as Financed Share Up
U.S. home lenders’ average equity position improved during the fourth quarter even though the share of financed homes widened by 2 percentage points. The origination of closed-end second mortgages, which is dominated by non-banks, overtook home-equity line-of-credit lending — driving up America’s home-equity book of business despite a contraction in HELOCs.
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