Bank of America Ranks as Top Home-Equity Lender as HELOC Business Keeps Growing
March 26, 2009
Home-equity lending declined in 2008 – along with every other part of the mortgage market that lacks have strong government backing – but lenders continued to grow their portfolios of revolving credit secured by the borrower’s home. Banks and thrifts held some $667.5 billion of home-equity lines of credit in their portfolios at the end of 2008, up 9 percent... [Includes one chart]