Adobe Stock A federal jury has convicted Oluwaseun Adekoya of bank fraud conspiracy, money laundering conspiracy and aggravated identity theft. The case offers an in-depth look at a rising threat to banks and credit unions: identity theft used to steal from customers’ home equity lines of credit. A two-and-a-half-week trial exposed Adekoya as the ringleader […]
How an identity thief stole $2 million from HELOCs Read More »
Figure Technology Solutions has announced a blockchain-based home-equity line of credit securitization that it says is the first to receive a AAA rating from a major rating agency, broadening its investor base. Standard & Poor’s ratings for the $355 million, six-tranche deal, FIGRE 2025-HE3, range from a top AAA to B-minus, which is a low-end
Figure HELOC securitization breaks new ground in ratings Read More »
In the race to capture home equity line of credit customers, non-bank lenders say they have plenty to offer compared to their larger competitors. All mortgage players are staring at a lucrative HELOC opportunity in the next two years with soaring equity alongside stale mortgage rates and rising consumer debt. While homeowners who secured ultra-low
Banks vs IMBs: who wins the HELOC war? Read More »
Forged checks, false occupancy claims and scams on senior citizens are among the schemes lenders should be aware of as growing interest in home equity lending catches the attention of fraudsters. While home equity lines of credit have been available for decades, the rapid acceleration of mortgage rates over the past three years is raising
What fraud risks do HELOCs pose? Read More »
In a move that could further boost a mortgage segment that’s expected to grow, the Mortgage Industry Standards Maintenance Organization has put the SMART Doc V3 eHELOC Specification out for comment for a 30-day period through July 5. MISMO, a subsidiary of the Mortgage Bankers Association, is the development standards body for the mortgage industry,
MISMO puts eHELOC specs out for comment Read More »
Closed-end home equity loan annual growth outpaced its line of credit cousin in the fourth quarter, increasing 13% above its high point from a year ago, the TransUnion first quarter Home Equity Trends Report found. Total home equity origination, in which TransUnion counts first mortgage refinance activity as well (although it does not distinguish between
Closed-end seconds lead overall home equity loan growth Read More »
U.S. homeowners tapped nearly $25 billion in home equity through second-lien mortgages during the first quarter of 2025 — the largest volume for this period in 17 years, according to the ICE Mortgage Technology‘s newest Mortgage Monitor report. That marks a 22% increase compared to the same quarter last year. The first quarter is typically
Americans tapped $25B in home equity in Q1 2025 Read More »
John Toohig stood at a podium as the moderator of a panel about home equity lines of credit (HELOCs) and asked an illustrative question of the audience of mortgage professionals. “How many of you have a mortgage first lien, 30-year with a 4% coupon or lower?” A majority raised their hands. “You are all the
Competition for HELOC business heats up as home equity grows Read More »
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