Home-Equity Lending Gained Speed in Second Quarter, But Lenders Have Difficult Time Building Portfolios
October 2, 2014
Mortgage lenders originated an estimated $17 billion in new home-equity loans during the second quarter of 2014, a 30.8 percent increase from the previous period, according to a new market analysis and ranking by Inside Mortgage Finance. But the volume of outstanding home-equity lines of credit and closed-end second mortgages held in portfolio by depository institutions – the biggest players in the HEL market – continued to dwindle. Banks, thrifts and credit unions reported a total of $540.4 billion of HELOCs on their books at the end of June, down 0.9 percent from March, along with a 1.5 percent drop in closed-end seconds. It continued...[Includes three data charts]
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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