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.)
Washington Trust Company agreed to spend at least $9 million on lending efforts in majority-Black and Hispanic neighborhoods though the bank won't pay a civil monetary penalty.
The Supreme Court will hear oral arguments next week in a case that could decide the fate of the CFPB; CFPB tracking lending trends from 2022 HMDA data; FHFA looks to expand activity involving mortgages with shared-equity features.
Retail lending accounted for 85.9% of jumbo originations in the first half of 2023, among a group of prominent lenders surveyed by Inside Nonconforming Markets.
Activity by Fannie Mae and Freddie Mac involving shared equity loan programs has been limited to this point and the FHLBanks are currently prohibited from acquiring mortgages in shared equity programs.