Defaults on home equity investment contracts can occur if the borrower’s mortgage is foreclosed on or if the borrower fails to maintain payments for taxes and insurance on the home.
JPMorgan Chase remained the largest bank in terms of servicing for others and increased its volume in the second quarter, a feat managed by only one other bank in the top 10. (Includes data table.)
With interest rates on mortgages set to come down, some lenders are looking to quickly adopt tech to help with originations. Blend Labs is seeing lenders use more of the tech vendor’s products and an automated refi offering is on the way.