Wells Fargo was the top home equity lender in 2017 with total second lien production of $24.8 billion, according to a tally from Inside Mortgage Finance…
“The short-term nature of the collateral paired with an attractive yield makes for a rare opportunity in today’s investing climate,” said Angel Oak’s Sreeni Prabhu…
The home-equity lending business quietly built some momentum over the past three years after nosediving in the aftermath of the housing-market meltdown, but its future growth will depend on several moving parts.
Freddie Mac this week rolled out a new pilot program with the help of Arch Capital Group, the parent company of the nation’s largest mortgage insurance firm. But the pilot – dubbed IMAGIN for “integrated mortgage insurance” – is already stirring controversy.
Several residential lenders suffered through a challenging start to the new year but loan production is starting to warm up as the spring homebuying season nears. Still, higher interest rates are causing consternation with many shops openly worried about plummeting refis and lower profit margins.