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Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Home Equity Lending
Unlocking The Value
When a person's personal wealth is calculated, included in that reckoning is the
value of their home. However, a home is not liquid, that is the person cannot easily turn that value into hard
cash.
Getting that value out and into currency is the job of various types of home-equity
loans. Until a few years ago, mostly banks had done home-equity lending. It was not a product that many mortgage
brokers dealt in.
That has changed, and one of the reasons why is the popularity of the piggyback
loan. A piggyback is a second mortgage loan originated at the same time as the first. While its most famous use
is for giving the borrower a large enough down payment to avoid mortgage insurance, the piggyback has also been
marketed as a way for a homeowner to gain quick access to funds in an emergency.
Senior citizens can turn the value of their home into cash through a special product
known as a reverse mortgage. In this Special Report, read about the newest product available from reverse mortgage
lender Financial Freedom.
Also read about the latest trends in the marketplace in an interview with two
executives from Chase Home Finance's B2B channel.
National City Home Equity unveiled its new B2B at the National Association of
Mortgage Brokers annual convention. Read about how it developed the site in an interview with a company executive.
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