News Topic: HELOCs

The former chairman of the National Credit Union Administration will work with the fintech to broaden its reach in the credit union space. ... Read full article

The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021. ... Read full article

Wells Fargo will temporarily stop accepting applications for home equity lines of credit, following a similar move by rival JPMorgan Chase. ... Read full article

The nation's largest bank is temporarily reducing its exposure to the mortgage market amid rising unemployment and estimates that home prices could drop by 10%. ... Read full article

The worsening economy brought on by the coronavirus pandemic has big banks rethinking who they will lend to. ... Read full article

Demand for home loans has been strong in recent months and is expected to increase coronavirus fears push rates lower. ... Read full article

The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations. ... Read full article

Home loan originations rose by double digits in the third quarter while auto loan originations approached an all-time high, according to new household credit data from the New York Fed. ... Read full article

First Horizon, Iberiabank in year's second-biggest bank merger; bank failure in New Jersey is nation's third in a week; smaller banks take a turn swinging the ax; and more from this week's most-read stories. ... Read full article

Prosper hopes to do for lines of credit what it did for unsecured personal loans, while BBVA hopes to provide a better experience for customers. ... Read full article

The once-popular loan Americans use to finance home renovations and college tuition is slowly dying, slashing a lucrative source of revenue for the nation's largest banks. ... Read full article

Past due home equity loans and credit lines rose while most other consumer lending categories held steady or improved, according to new data from the ABA. Why it happened is a bit of a mystery. ... Read full article

Dallas Fed chief says lower interest rates may require stricter rules to ward off riskier lending; after financial crisis, debt backed by HELOCs disappeared. ... Read full article

It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game. ... Read full article

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening. ... Read full article

Toronto-Dominion Bank is seeking to win back customers with home-equity loans — even as concerns grow over elevated consumer debt amid a slowing Canadian economy. ... Read full article

Time and again, two former associates of President Trump deceived banks in connection with loan applications. Their wealth, proximity to power and willingness to tell big lies all appear to have helped them get away with brazen schemes. ... Read full article

Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending. ... Read full article