HELOC Archives

‘Not HELOC. Not piggyback.’ Freddie Mac exec defends new product proposal amid resistance

May 24, 2024 mpsingh No Comments Real estate closed-end seconds, defends, exec, Featured Homepage, Freddie, Freddie Mac, HELOC, Home Equity, HWmember, Mac, piggyback, product, proposal, resistance

“What we are bringing forward, called closed-end second lien, assuming a FHFA approval, will provide them an alternative to the cash-out refi,“ he said. “If someone has a $300,000 mortgage and wants to get $50,000 out, they don’t have to reprice their whole first home mortgage to the rates currently at 7%.“ Mittal spoke to HousingWire on [...]read more‘Not HELOC. Not piggyback.’ Freddie Mac exec defends new product proposal amid resistance

The HELOC dam is opening. Are you ready?

April 29, 2024 mpsingh No Comments Real estate dam, HELOC, Opening, Ready

U.S. homeowners today are armed with a record amount of home equity 𑁋 nearly $32 trillion, according to the latest data from the St. Louis Federal Reserve. Many of these homeowners are locked into historically low interest rates post-pandemic, which means they are unlikely to refinance. Indeed, amid the current high interest rates, they are [...]read moreThe HELOC dam is opening. Are you ready?

Fintech startup Hitch rolls out white-label HELOC product

April 23, 2024 mpsingh No Comments Real estate FinTech, HELOC, Hitch, product, rolls, Startup, whitelabel

New York City-based fintech startup Hitch announced the launch of its Hitch Home Equity White Label program in partnership with United Mortgage Corp. This iteration signals Hitch’s smooth transition from the direct-to-consumer market to a collaborative effort with independent mortgage lenders. United Mortgage Corp., a midsized lender based in the state of New York, originated [...]read moreFintech startup Hitch rolls out white-label HELOC product

CFPB takes a closer look at consumer mortgage complaints

March 29, 2024 mpsingh No Comments Real estate CFPB, closer, complaints, Consumer, Consumer Financial Protection Bureau, Department of Veterans Affairs, HELOC, Mortgage, Takes, USDA, Wells Fargo

The Consumer Financial Protection Bureau (CFPB) this week released its 2023 Consumer Response Annual Report, offering an overview of consumer complaints in a variety of industries overseen by the bureau. While much of the report suggests “a continued increase in credit or consumer reporting complaints, with more than one million of these complaints being sent [...]read moreCFPB takes a closer look at consumer mortgage complaints

DON’T Pay Off Your HELOC Until You Hear This…

March 3, 2024 mpsingh No Comments Real estate Dont, hear, HELOC, pay, This..

Got a HELOC? Don’t pay it off…yet! Thinking of house hacking but are discouraged by the low cash flow numbers you’re getting back? Looking to invest in a high property tax state like Texas but are scared to swallow that big expense? All of these topics, and many more, are coming up on this episode [...]read moreDON’T Pay Off Your HELOC Until You Hear This…