A growing share of older Americans are carrying mortgage debt well into their retirement years.

CFPB increases threshold to determine whether higher-priced mortgage loans are subject to special appraisal requirements; LoanStream licensed in Alaska; Upstart launches HELOC product; Valley National Bank launches HELOC for LMI borrowers.

Even with elevated interest rates, some borrowers are opting for cash-out refinances to tap home equity.

Originations of home equity lines of credit and closed-end second liens in 2023 haven’t kept pace with production in 2022 as elevated interest rates are limiting activity. (Includes three data charts.)

Saluda Grade has announced new funding for its HEI business and is set to issue a HELOC securitization.

A record number of homeowners are turning to HELOCs to perform renovations on their properties or paydown credit card debt.

Home equity originations peaked in the third quarter of 2022 and continued to trend down in the first quarter of 2023. Still, the total amount of funded home equity debt outstanding increased slightly. (Includes three data charts.)

The increase in usage of home equity lines of credit suggests that consumers are facing some financial difficulties, the NCUA has warned.

UWM wants to hire 500 people in three months; First Federal Bank signs deal with BNC; and MISMO seeks members for new eHELOC working group.

Two recent court cases demonstrate the value in completing a comprehensive title search prior to closing a refinance mortgage.