NQM Funding updates DSCR product requirements; Truss Financial Group debuts no tax return HELOC product; Academy Mortgage launches DSCR offering; Angel Oak issues non-agency MBS that leverages blockchain technology.

More nonbanks are ready to take the HELOC plunge, using the MBS market as leverage. Among them: Homebridge and Angel Oak.

Originations of home equity lines of credit and closed-end second liens declined somewhat in the third quarter. Home price appreciation was offset by rising interest rates. (Includes three data tables.)

CoreLogic expects home equity lending to increase next year following a lull in HELOC originations this year.

Figure is expected to issue its third HELOC MBS of 2023 and will provide loans to an upcoming Saluda Grade issuance.

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.