Home-Equity Lending Boomed in 2005, Pumped By Both HELOC and Piggyback Seconds
April 13, 2006
Originations of home-equity loans jumped 12.2 percent last year, paced by heavy production of revolving lines of credit and the growing piggyback second mortgage business, according to a new analysis by Inside Mortgage Finance. An estimated $359 billion of home-equity loans were originated in 2005, representing about 11.5 percent of total production. The biggest chunk of that volume came from new home-equity line of credit originations by banks, thrifts and other portfolio lenders, estimated at… [One data table included]
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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