Home equity loans

Mike Cagney, who built SoFi into America's biggest student loan refinancer before quitting amid allegations of sexual harassment at the fintech firm, is preparing for his second act: a startup offering home-equity loans.

On Dec. 31, 2017. Dollars in thousands.

Late-payment rates at banks declined in nine out of the 11 consumer loan categories tracked by the American Bankers Association, including credit cards, auto loans and personal loans.

On Dec. 31, 2017. Dollars in thousands.

Banks are capitalizing on changing consumer habits - and satisfying a pressing need to diversify their loan portfolios - with a spate of instant point-of-sale loans for everything from iPhones to home improvements.

On Sep. 30, 2017. Dollars in thousands.

Citizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending.

The New York bank has begun marketing Marcus loans as a way to pay for home improvements, while also raising the maximum loan size to $40,000.

Any decline in home equity balances could be offset by higher demand for other types of consumer loans. The worry is that only borrowers with blemished credit will take out home equity loans, increasing the risk for banks and credit unions.

They aren't creating new products, but some lenders are advising cash-strapped customers in high-tax states to tap home equity or other credit lines to prepay property taxes before the new tax law kicks in.

Any decline in home equity balances could be offset by higher demand for other types of consumer loans. The worry is that only borrowers with blemished credit will take out home equity loans, increasing banks’ risk.

On Sep. 30, 2017. Dollars in thousands.

The long-running slide in mortgage payments 60 or more days past due will continue next year, and perhaps even longer as borrowers benefit from favorable economic conditions.

On Jun. 30, 2017. Dollars in thousands.

The Federal Housing Administration was battered by losses this year from reverse mortgages, casting doubt on whether the agency will adopt an Obama-era proposal to reduce mortgage insurance premiums.

Capital One Financial will stop originating mortgage and home-equity loans after competition made it difficult for the businesses to be profitable.

Home equity lines could double over the next six years. Some banks are actively pursuing the consumer credit opportunity, whereas many still feel stung by the housing crisis, unimpressed by home equity’s comeback so far or fearful of nonbank competition and fraud.

Credit unions in both states have prepped offers for consumers who need to rehab their homes following this summer's hurricanes, but there are hurdles ahead, including rising competition and stringent regulations.

One of the biggest challenges surrounding the ballot initiatives is voter turnout, which is often just 10 percent of registered voters in elections the year after a presidential contest.

At 1.56%, the delinquency rate on consumer loans remains well below historic averages, the American Bankers Association said Thursday.