Home Equity Lending News LLC (HELN), a source of breaking news and statistics about second-mortgage lending, and Flueid, a technology company fueling real estate transactions from end-to-end with title data and intelligence, have released Second Mortgage Market Insights Q2 2023, a detailed look into the current state of junior-lien originations, capital markets, servicing and technology, as well as the home-equity market outlook.
The 32-page report examines how home-equity originations have recovered since the financial crisis, who the players are, and market metrics for today’s originations. The impact from the trio of recent bank failures on the capital markets for junior-lien products is reviewed, as is the recent easing of rates and how it might affect seconds.
“After second-mortgage production surged last year to a post-crisis high, the recent failure of three regional banks disrupted the capital markets for home-equity products and drove down interest rates – making first mortgage cash-out refinances more viable for some homeowners,” HELN CEO Sam Garcia stated. “So we’ve seen a revision to expectations for second-mortgage originations.”
Advancements in home-equity technology are discussed in the study, as is the impact from the growing implementation of artificial intelligence. In addition, the quality of automated verifications and valuations and their ability to help lenders predict performance are discussed. An analysis of search results for home-equity phrases identifies which lenders are winning the SEO race.
“Flueid is committed to innovation and collaborating with like-minded partners to advance the industry. We launched our end-to-end home equity solution in 2022 as part of our platform’s diversification strategy and are excited to sponsor this report with Home Equity Lending News as a way to continue cultivating the overall home equity dialogue,” said Matt Regan, EVP of Transaction Management at Flueid. “We have witnessed significant advancements in the category, including integrations, new product launches, workflow improvements, and more, as the industry strives for greater efficiency at every step of the home equity process to achieve the 5-day close. As a technology provider, we are eager to observe how this framework evolves, particularly regarding the growing role of title data and intelligence in streamlining and integrating processes in today’s home equity landscape and future market cycles.”
Download the full report for free at HEL.News/2023-q2-mortgage-report/.
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