Home-Equity Lending Up Strongly in 2Q15, But Not Enough to Offset Ongoing Decline in Retained Portfolios
September 10, 2015
Home-equity lending jumped to its strongest level in seven years during the second quarter of 2015, but most depository institutions continued to see declining balances in their home-equity portfolios, according to a new Inside Mortgage Finance ranking and analysis. An estimated $24.0 billion of home-equity lines-of-credit and second mortgages were originated during the second quarter, up 23.1 percent from the first three months of the year. It was the highest production level since the second quarter of 2008. Although the Federal Reserve won’t release an official figure for home-equity loans outstanding at the end of June until next week, call-report data suggest...[Includes three data tables]