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.
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.
Dallas Fed chief says lower interest rates may require stricter rules to ward off riskier lending; after financial crisis, debt backed by HELOCs disappeared.
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.
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.
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.
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.
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.
From medical expenses to home improvements, here's a look at some of the most frequently cited reasons homeowners are borrowing against their home equity.
