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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.

HELOC Lending on the Rise

Some subprime activity in closed-end mortgage lending

Feb. 19, 2015

By Mortgage Daily staff

Although traditional mortgage originations have generally been declining, home-secured credit line business has been on the rise. But while some subprime activity has crept into closed-end mortgage lending, credit line activity has been limited to prime borrowers.

U.S. residential lenders originated around $340 billion in home loans during the three months ended Dec. 31, 2014.

Business fell from roughly $390 billion in the third quarter.

But activity increased from the fourth-quarter 2013, when national production amounted to approximately $310 billion.

The findings were discussed in the Q4 2014 Experian-Oliver Wyman Market Intelligence Report.

The report indicated that around $10 billion of fourth-quarter 2014 volume was subprime, nearly $50 billion was near prime, $200 billion was prime and about $80 billion was superprime.

No deep subprime loans were originated.

For all of 2014, overall home loan originations were in the neighborhood of $1.330 trillion, sinking from the previous year's roughly $1.810 trillion.

In 2012, mortgage originations were approximately $1.860 trillion.

The volume of home-equity lines of credit originated was $37 billion in the fourth-quarter 2014, the same as three months earlier and up from $28 billion a year earlier.

Superprime borrowers accounted for 53 percent of fourth-quarter 2014 HELOC activity, while prime borrowers made up 43 percent. The rest was mostly near prime.

Full-year HELOC production climbed to $134 billion from $108 billion in 2013.

HELOC originations totaled $87 billion in 2012.

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

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