Last year was a big year for home-equity lending as an estimated record $308 billion in both closed-end seconds and revolving lines of credit was produced in the residential mortgage market – a whopping 76.0 percent increase in HEL volume from 2003. While much of 2004’s booming HEL production can be attributed to relatively low interest rates and a surge in borrowers looking to cash equity out of their homes in a strong property appreciation…