|Home-Equity Lending Set to Grow
A new report predicts that borrowing against home equity is poised for growth. Lenders can maximize this opportunity by personalizing marketing based on how individual consumers use these loans.
HSBC Finalizes Large Subprime RMBS Settlement
A large settlement being negotiated between the government and HSBC Holdings plc over the British bank’s role in the issuance of residential mortgage-backed securities has been finalized.
Bank HEL Delinquency Soars
Quarterly performance on bank-owned home-equity loans substantially deteriorated. Delinquency was down, though, for mobile home and property improvement loans.
Fewer Foreclosures Started, Completed at Banks
The rate of delinquent payments on bank-serviced mortgages has improved over the past year, though there was no quarter-over-quarter change. Fewer foreclosures were started and completed.
1st Mortgages Outstanding Nearing All-Time High
The balance of first-lien home loans outstanding is nearing the all-time high established at the start of the crisis. The trend is down, however, for home-equity products.
Banks Maintain Mortgage Credit Standards
For most single-family lending programs, credit standards at banks were little changed during the second quarter. While demand for residential loans was up at a good share of banks, it was also down at a good share.
Wells Fargo Reaches $2 Bil Subprime RMBS Settlement
More than two years after revealing a government investigation into how it handled sales of subprime residential mortgage-backed securities, Wells Fargo & Co. has agreed to a more than $2 billion settlement.
Fmr Trump Lawyer Got $3.5 Mil Mortgage Before Raid
Just days before his home and office were raided by the FBI, President Donald Trump’s former personal lawyer took out a $3.5 million non-traditional mortgage.
Dodd-Frank Rollback Raises Risk for Non-Banks
Recently enacted legislation to roll back some of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act is likely to have a negative impact on non-bank home lending.
Max Non-QM Loan Amount Raised to $5 Million
A nonprime correspondent investor has raised the maximum loan amount to $5 million for some of its programs that allow the origination of loans that don’t meet Qualified Mortgage requirements.