According to a new report from Black Knight, Inc., half of new mortgage payments are over $2,000, while a quarter have surpassed the $3,000 mark.
Read More »Examining Household Debt in America
According to the New York Fed, mortgage balances were largely unchanged from the previous quarter, partly due to declining mortgage originations and slowing home prices.
Read More »Former Senior CFPB Attorney Launches New Firm
ormer CFPB Senior Counsel Colgate Selden partners with Alan Lindeke to bring a combined 40-plus years of senior legal, risk, compliance, and executive leadership roles to new law firm.
Read More »Interest Rates Impacting Borrowers’ Access to Home Equity
A new survey found that 50% of respondents cannot or would not borrow against their homes due to the current interest rate environment.
Read More »More Homeowners Wanting to Age in Place
A new study from Point revealed nearly 90% of homeowners nationwide aged 50-80 want to remain in their homes, but many remain unprepared for the costs of necessary home improvements to do so.
Read More »Cenlar Adds Peter Johnson as VP
Focusing on the HELOC and PMI offerings, mortgage subservicer names 35-plus-year industry veteran VP of Special Products in Loan Operations.
Read More »As Originations Decline, Consumer Interest in HELOCs Inches Upward
Joe Mellman, SVP and Mortgage Business Leader at TransUnion, said, "Considering that homeowners had a cumulative total of $604 billion in non-mortgage debt, [HELOCs allow homeowners to] use their available home equity to pay off more expensive debt while keeping their existing low interest rate mortgage in place.”
Read More »Average Homeowner Equity Exceeds $233K
Credit bureau TransUnion has released its second quarter Credit Industry Insights Report which highlighted how the number of consumers with credit cards and personal loans has reached record highs, driven by an increase in loans to non-prime consumers. “Consumers are ...
Read More »Why Homeowners Hesitate to Tap Equity
Economists evaluate one of the top concerns for borrowers considering an equity loan and offer up methods for mitigating potential problems.
Read More »Wells Fargo: No New HELOCs Due to Current Market Conditions
Also, a coalition of states sent a letter to HUD urging action to protect seniors with Home Equity Conversion Mortgages.
Read More »