twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.


2017 1st Lien Lending Down, Home Equity Lending Up

Home-equity assets decline

April 4, 2018

By Mortgage Daily staff



Although refinances were an albatross for last year's first-lien loan originations, home-equity production moved higher. Home-equity assets were diminished, though.

From Jan. 1, 2017, through the end of last year, home lenders originated 7.27 million U.S. first mortgages. The total includes purchase financing and refinances.

That turned out to be 13.2 percent fewer first mortgages than were originated in all of 2016. Based on the decrease, 2016 first-mortgage production was approximately 8.38 million.

Equifax, which provided the details Wednesday, said the year-over-year decline was the result of slowing refinances.

But things have improved since the financial crisis.

"Despite nearing the pre-Great Recession peak in nominal terms, the market for first mortgages is in a much healthier place than in 2008, with low interest rates and normalized home prices supporting affordability," Equifax Deputy Chief Economist Gunnar Blix said in the report.

Another 771,300 home-equity loans were closed last year, jumping 12.3 percent from roughly 686,800 in 2016. By dollar volume, HEL production was 12.3 percent higher than the preceding year.

Also escalating was the origination of home-equity lines of credit, by 1.1 percent to nearly 1.45 million during 2017 -- bringing estimated 2016 HELOC production to around 1.43 million.

Equifax noted that HELs outstanding have continued a steady decline since peaking in 2007 -- with HEL balances down more than 65 percent since the peak and the number of accounts off nearly 61 percent.

The report had aggregate outstanding unpaid principal balances on HELOCs ending last year at $418 billion, down 6.2 percent from a year earlier when the estimated balance was approximately $446 billion. HELOCs outstandings topped out at $677 billion in May 2009.

next story

back to current headlines


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Nonprime and Subprime News | Subprime Statistics
Stories about non-QM products. Coverage of subprime, Alt-A and
hard money lending. Home-equity loans and home-equity lines of credit.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders