ATTOM: Home Equity Dips Slightly in Q1

ATTOM, Irvine, Calif., released its Q1 Home Equity and Underwater Report, revealing that 46.2% of mortgaged residential properties were considered equity-rich in the first quarter.

Quote: July 26, 2023

“Home renovations and remodeling drove demand for home equity products in 2022, with roughly two-thirds of borrowers citing it as a reason for applying for a home equity loan.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.

Scott Roller: Must-See Home Equity Vendor Solutions

In their cyclical fashion, most lenders are dusting off some antiquated home equity programs, most having spent no energy to prepare for this market opportunity. Given the past few years of overflowing refi pipelines, that is not surprising. Why plant corn if the market price for soybeans is breaking records? Conversely, multiple vendors have set themselves up to help lenders and credit unions successfully market, process, service and trade home equity loans and HELOCs.

Homeowner Equity ‘Surges’ During Second Quarter

ATTOM, Irvine, Calif., found 34.4 percent of mortgaged residential properties in the United States were considered “equity-rich” in the second quarter, up from 27.5 percent a year before.

Homeowner Equity ‘Surges’ During Second Quarter

ATTOM, Irvine, Calif., found 34.4 percent of mortgaged residential properties in the United States were considered “equity-rich” in the second quarter, up from 27.5 percent a year before.