A financial services organization based in North Texas has unveiled an expanded junior-lien down payment assistance program that utilizes shared appreciation.
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Truist Staff, Branches & Home Equity Assets Cut
Truist Bank continued to reduce its headcount, branch count, and investments in home-equity assets. The financial institution, however, saw net income improve by more than $6 billion on a linked-quarter basis.
Largest US Servicer Rated for CES
A rating has been assigned to Mr. Cooper for servicing closed-end second mortgages. Less than 1% of its current total servicing portfolio — which is the largest in the country — is CES loans.
Fifth Third Home Equity Yield Up, Delinquency Down
While there was little change in the size of the home-equity portfolio at Fifth Third Bank, N.A., during the past year, the yield on the portfolio has soared 182 basis points, and delinquency has dropped 14 BPS.
Huntington’s CES & HELOC Originations, Yield, Delinquency Up YoY
The Huntington National Bank bumped up home-equity originations from a year ago and improved credit scores in the process. The bank-holding company, however, reduced its open- and closed-end home-equity assets, and saw a 43-basis-point escalation in home-equity delinquency during the period — though yields on the portfolio were up modestly.
Continued Growth in Citizens’ Home Equity Portfolio, Yield Up
Growth continued in Citizens Bank’s home-equity portfolio, with a year-over-year improvement in the yield. Home-equity credit scores and delinquency, however, deteriorated from 12 months prior. Company-wide staffing has been reduced 6% during the past year, while branch count was cut by roughly 9%.
Expected Q2 Renovation Activity Raised
While home renovation activity is forecasted to continue its year-over-year decline through at least early next year, the projection for the current quarter was lifted — resulting in an expected increase from the first quarter pace.
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.
Fed Reports Pickup in HELOC Demand
An anecdotal barometer of economic conditions from the 12 Federal Reserve Banks indicate increased activity for open-end home-equity loans.
Jr Lien Home Equity Assets Hold at US Bank, 1st Lien Down 13%
U.S. Bank, N.A., maintained year-over-year growth in its junior-lien home-equity portfolio, albeit minimal growth. Its first-lien home-equity investments, however, were 13% lower.
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