A significant expansion from a year earlier in open-end home-equity holdings at smaller commercial banks was more than enough to offset an equally significant decline at larger financial institutions — pushing overall bank portfolios higher.
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YoY Jump in CES Production as PennyMac Swings to Profit
Closed-end second mortgage lending at PennyMac Financial Services Inc. saw a nice year-over-year improvement as the lender began buying second-lien third-party originations, though business slumped on a quarter-over-quarter basis. Earnings swung to a profit.
No. 4 CA Credit Union Home Lender Gets New LOS
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.
Key Leads Bank Home Equity Assets Down; Robust Citizens Growth
In the first-three months of 2024, banks that are major home-equity lenders reduced their collective home-equity portfolios by $1.5 billion compared to a year earlier. Leading the pullback was KeyBank. Citizens Bank, however, continued its robust growth.
Denver Lender Reports Significant Rise in HELOC Apps
The company that claims to be “Denver’s top mortgage lender” has reported “a significant increase in applications” for home-equity lines of credit.
90% Home Equity Loan Product Launched by Better
A new closed-end second mortgage is available from Better Home & Finance Holding Co. Combined loan-to-value ratios of up to 90% are available on the new product.
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