HELOC

KBRA Assigns Preliminary Ratings to J.P. Morgan Mortgage Trust 2024-HE2 (JPMMT 2024-HE2)

Retrieved on: 
Mittwoch, Mai 29, 2024
Banking, Professional Services, Finance, RMBS, United Wholesale Mortgage, FOCUS, IO, HELOC, J. P. Morgan, KBRA, Telescopic sight

KBRA assigns preliminary ratings to 7 classes of Mortgage Participation Pass-Through Certificates from J.P. Morgan Mortgage Trust 2024-HE2 (JPMMT 2024-HE2), a $379.9 million RMBS transaction sponsored by J.P. Morgan Mortgage Acquisition Corp. (J.P. Morgan) and FOCUS III Advisory, LLC (FOCUS) consisting entirely of second lien home equity line of credit (HELOC) loans.

Key Points: 
  • KBRA assigns preliminary ratings to 7 classes of Mortgage Participation Pass-Through Certificates from J.P. Morgan Mortgage Trust 2024-HE2 (JPMMT 2024-HE2), a $379.9 million RMBS transaction sponsored by J.P. Morgan Mortgage Acquisition Corp. (J.P. Morgan) and FOCUS III Advisory, LLC (FOCUS) consisting entirely of second lien home equity line of credit (HELOC) loans.
  • The underlying pool is seasoned approximately three months and comprises of 4,321 loans, with United Wholesale Mortgage, LLC (68.4%) and loanDepot.com, LLC (19.3%) representing the largest contributing originators.
  • The HELOCs are interest-only (IO) adjustable-rate mortgages, with IO terms of mostly ten years (97.8%).
  • Most of the loans feature 20-year (95.5%) amortization terms, and HELOC initial draw windows of three (86.5%) or ten (12.3%) years.

Better Home & Finance Holding Company Announces First Quarter 2024 Results

Retrieved on: 
Montag, Mai 13, 2024
Professional Services, Other Professional Services, Technology, Other Construction & Property, Residential Building & Real Estate, Other Technology, Construction & Property, HELOC, CFO, Investment, Metric, Growth, Webcast, Home, Security (finance)

Better Home & Finance Holding Company (NASDAQ: BETR; BETRW) (“Better” or the “Company”), a New York-based digitally native homeownership company, today reported financial results for its first quarter ended March 31, 2024.

Key Points: 
  • Better Home & Finance Holding Company (NASDAQ: BETR; BETRW) (“Better” or the “Company”), a New York-based digitally native homeownership company, today reported financial results for its first quarter ended March 31, 2024.
  • “We are pleased to announce strong first quarter sequential funded loan volume and revenue growth, which we believe sets the stage for the continued growth we expect through the rest of 2024.
  • More information as of and for the quarter ended March 31, 2024 will be provided upon filing our Quarterly Report on Form 10-Q with the SEC.
  • Better will host a live webcast of its earnings conference call beginning at 8:30am ET on May 14, 2024.

HEI Reports First Quarter 2024 Results

Retrieved on: 
Freitag, Mai 10, 2024
Professional Services, Utilities, Environment, Sustainability, Energy, Finance, Banking, Insurance, HEI, Legislation, HELOC, News, Net, Investment, PUC, Wildfire, Safety, Sale, Public utility, Savings bank, Fire, ASB, Hawaiian Electric Industries, EPS, Public utilities commission, GAAP, Webcast, Public expenditure, O&M, Video game

ASB’s first quarter 2024 net income was $20.9 million, compared to $3.2 million in the fourth quarter of 2023 and $18.6 million in the first quarter of 2023.

Key Points: 
  • ASB’s first quarter 2024 net income was $20.9 million, compared to $3.2 million in the fourth quarter of 2023 and $18.6 million in the first quarter of 2023.
  • Return on average assets was 0.88% for the first quarter of 2024, compared to 0.13% in the linked quarter and 0.78% in the prior year quarter.
  • In the first quarter of 2024, ASB did not pay a dividend to HEI, supporting ASB’s healthy capital levels.
  • HEI will conduct a webcast and conference call to review its first quarter 2024 consolidated financial results today at 10:30 a.m. Hawaii time (4:30 p.m. Eastern).

Achieve announces the close of $170.1M HELOC securitization

Retrieved on: 
Donnerstag, Mai 9, 2024
Sale, Risk, Uncertainty, Jules Kroll, Jefferies, Class D, AAA, Entrepreneurship, Environment, HELOC, SAN, ACHM, Security (finance)

SAN MATEO, Calif., May 9, 2024 /PRNewswire/ -- Achieve, the leader in digital personal finance, announces the May 8 close of a AAA-rated securitization backed by $170.1 million in newly originated home equity lines of credit (HELOCs).

Key Points: 
  • SAN MATEO, Calif., May 9, 2024 /PRNewswire/ -- Achieve , the leader in digital personal finance, announces the May 8 close of a AAA-rated securitization backed by $170.1 million in newly originated home equity lines of credit (HELOCs).
  • The securitization, ACHM Trust 2024-HE1, consists of three classes of rated notes and two classes of unrated notes backed by 3,066 HELOCs originated by Achieve Home Loans.
  • The deal is the fourth successful securitization of HELOCs originated by Achieve.
  • Since Achieve Home Loans launched in 2019, HELOC borrowers have saved an average of over $650 per month compared to their previous unsecured debt payments.

KBRA Releases Research – FHFA Closed-End Seconds: Effect on PLS?

Retrieved on: 
Mittwoch, Mai 8, 2024
Professional Services, Residential Building & Real Estate, Insurance, Finance, Construction & Property, Banking, HELOC, Federal Housing Finance Agency, FHFA, PLS, RMBS, Agency, CES, Freddie Mac, Comment, Real estate

This report explores the proposal’s potential overlap with the existing second lien PLS market and the effects the program may have on the size and risk profile of the PLS market post-adoption.

Key Points: 
  • This report explores the proposal’s potential overlap with the existing second lien PLS market and the effects the program may have on the size and risk profile of the PLS market post-adoption.
  • Approximately $8.7 billion have been collateralized via second lien 2.0 PLS transactions through Q1 2024, a small but growing portion of the PLS market.
  • Assuming both GSEs were active in CES purchases, nearly 60% of the CES originated and securitized in today’s PLS market might have been eligible for the GSEs’ proposed program.
  • In general, PLS markets have capably absorbed the current flow of second lien securitization volumes, with spreads in line with the remainder of RMBS 2.0.

American Savings Bank Reports First Quarter 2024 Financial Results

Retrieved on: 
Dienstag, April 30, 2024
Professional Services, Other Energy, Utilities, Energy, Finance, Banking, Hawaiian Electric Industries, Sale, Investment, American Savings Bank, Savings bank, PUC, Public utilities commission, Wildfire, Webcast, F.S.B, ASB, HELOC, GAAP, HEI

“American Savings Bank executed well in the first quarter, generating higher net income compared to both the linked quarter and the same quarter last year,” said Ann Teranishi, president and chief executive officer of ASB.

Key Points: 
  • “American Savings Bank executed well in the first quarter, generating higher net income compared to both the linked quarter and the same quarter last year,” said Ann Teranishi, president and chief executive officer of ASB.
  • First quarter 2024 net interest income was $62.3 million compared to $61.2 million in the linked quarter and $64.9 million in the first quarter of 2023.
  • Concurrent with ASB’s regulatory filing 30 days after the end of the quarter, ASB announced its first quarter 2024 financial results today.
  • Please note that these reported results relate only to ASB and are not necessarily indicative of HEI’s consolidated financial results for the first quarter 2024.

Survey Finds Consumers Don't Fully Understand the Advantages of Home Equity and How it Can be Leveraged to Reduce Debt

Retrieved on: 
Dienstag, April 30, 2024
HELOC, Smith, HEL, Knowledge, Financial services

The findings suggest that there is significant lack of awareness among consumers regarding the financial advantages of leveraging home equity debt versus other kinds of consumer debt.

Key Points: 
  • The findings suggest that there is significant lack of awareness among consumers regarding the financial advantages of leveraging home equity debt versus other kinds of consumer debt.
  • Some of the key findings include:
    Nearly half of the respondents (44%) did not know what the interest rate was on their credit cards.
  • More than half of respondents (56%) said they would access the equity in their homes for a home renovation project.
  • By empowering homeowners with accurate information and providing comprehensive guidance and resources, lenders can help their customers make informed financial decisions."

loanDepot’s Jennifer Edwards Named to HousingWire’s 2024 Class of Rising Stars

Retrieved on: 
Freitag, April 26, 2024
Finance, Banking, Professional Services, Residential Building & Real Estate, Construction & Property, Volunteering, Organization, Language, American Youth Soccer Organization, Woman, Humanity, Mentorship, Vision 2025, Senior, Accounting, Feeding America, LDI, HELOC, Habitat for Humanity, Boy, American Heart Association, Management

“Jennifer is passionate about making a difference for loanDepot, our communities, and the industry,” said loanDepot Chief Financial Officer David Hayes.

Key Points: 
  • “Jennifer is passionate about making a difference for loanDepot, our communities, and the industry,” said loanDepot Chief Financial Officer David Hayes.
  • “Her contributions have helped streamline and optimize the Company’s financial systems as part of our Vision 2025 strategy.
  • “This is a well-deserved honor for Jennifer who is a true servant leader within loanDepot,” said loanDepot Chief Accounting Officer Darren Graeler.
  • The Rising Star award marks loanDepot’s second HousingWire accolade of 2024, having earned the Tech100 Mortgage award in February.

Upstart Launches Recognized Customer Personalization

Retrieved on: 
Donnerstag, April 25, 2024
Technology, Mobile, Wireless, Finance, Banking, Business, Professional Services, Networks, Internet, Artificial Intelligence, Consumer, Patelco Credit Union, Partnership, Artificial intelligence, RCP, SVP, HELOC, Credit, Bank

Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced the launch of Recognized Customer Personalization (RCP).

Key Points: 
  • Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced the launch of Recognized Customer Personalization (RCP).
  • This new feature of the Upstart Referral Network enables banks and credit unions to present a customized loan offer to their existing customers who are looking for a loan on Upstart.com.
  • With this capability, lenders can identify when an existing customer is actively shopping for a loan, offering an opportunity for that lender to expand their relationship by making a compelling offer of credit.
  • Features include:
    Instant identification of a lender’s customer and their tradeline status, enabling an immediate and automated response with a customized and branded offer of credit.

Better Launches Home Equity Loans: Offers Flexible Solutions to Homeowners Interested in Accessing Home Equity as Cash

Retrieved on: 
Dienstag, April 23, 2024
Finance, Professional Services, Residential Building & Real Estate, Construction & Property, Insurance, Online, CO, Environment, Documentation, APR, Fintech, FHA, HELOC, Better.com, OK, ID, Commitment, WSJ, Home, Condition, Growth, Fraud, Security (finance)

The Better Home Equity Loan may allow for more predictability, flexibility and stability in homeowners financing options by tapping into their home equity with a fixed interest rate.

Key Points: 
  • The Better Home Equity Loan may allow for more predictability, flexibility and stability in homeowners financing options by tapping into their home equity with a fixed interest rate.
  • “Across market cycles, access to home financing is not a one-size-fits-all approach,” said Vishal Garg, CEO & Founder of Better.
  • Better Home Equity Loan represents the next step to unlocking the next chapter of growth for Better with its growing suite of digital home equity product solutions.
  • With Better Home Equity Loan, Better Mortgage will lend on primary, secondary and investment properties with 10, 15, 20 or 30 year loan terms available.