HELOC

American Savings Bank Reports First Quarter 2024 Financial Results

Retrieved on: 
Tuesday, 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: 
Tuesday, 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: 
Friday, 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: 
Thursday, 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: 
Tuesday, 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.

Figure Technology Solutions Names Michael Tannenbaum as Chief Executive Officer

Retrieved on: 
Tuesday, April 23, 2024
Banking, Fintech, Professional Services, Finance, SoFi, HELOC, Entrepreneurship, Creativity, Executive, Grace note, Growth, Brex, Management

Figure Technology Solutions (“Figure”), provider of a disruptive and scaled technology platform built to enhance efficiency and transparency in financial services, today announced the appointment of Michael Tannenbaum as Chief Executive Officer and a member of the Board of Directors, effective immediately.

Key Points: 
  • Figure Technology Solutions (“Figure”), provider of a disruptive and scaled technology platform built to enhance efficiency and transparency in financial services, today announced the appointment of Michael Tannenbaum as Chief Executive Officer and a member of the Board of Directors, effective immediately.
  • In conjunction with the appointment, Mike Cagney, Co-Founder and previous Chief Executive Officer of Figure, has assumed the role of Executive Chairman.
  • Mr. Tannenbaum is a seasoned finance executive with over 15 years of experience in financial technology and financial services.
  • Mr. Tannenbaum also served as Chief Financial Officer and Chief Business Officer during his nearly seven years at Brex, and currently serves on the company’s board of directors.

Angel Oak Capital Completes Fourth Securitization of 2024, Fueled by Rapid Growth of Mortgage Solutions Origination Platform

Retrieved on: 
Friday, April 19, 2024
REIT, Finance, Professional Services, Residential Building & Real Estate, Construction & Property, HELOC, FICO, Traction, Fitch, Bank, Acquisition, Overalls, AAA, Financial services

Angel Oak Capital Advisors LLC , an investment management firm that specializes in value-driven structured credit investing, announced today the issuance of its fourth securitization of the year, AOMT 2024-4.

Key Points: 
  • Angel Oak Capital Advisors LLC , an investment management firm that specializes in value-driven structured credit investing, announced today the issuance of its fourth securitization of the year, AOMT 2024-4.
  • “The execution of our fourth securitization this year is indicative of our firm’s broader success in scaling growth and delivering investment solutions that cater to market demand,” said Namit Sinha, Chief Investment Officer at Angel Oak Capital.
  • Angel Oak Mortgage Solutions has expanded significantly in both origination volume and talent acquisition, a particularly notable accomplishment at a time marked by high interest rates, declining mortgage demand overall and economic volatility.
  • “Despite the new normal of higher rates, we continue to experience incredible growth as partners we work with find our non-qualified mortgage products to be a great fit for borrowers seeking flexible mortgage options,” said Tom Hutchens, Angel Oak Mortgage Solutions’ executive vice president of production.

Figure Technology Solutions Announces Launch of AI-Powered Chatbot to Further Streamline HELOC Origination Process, Expanding its Generative AI Portfolio

Retrieved on: 
Thursday, April 18, 2024
Blockchain, Finance, Marketing, Artificial Intelligence, Communications, Professional Services, Technology, Fintech, Intelligence, HELOC, Automation, Machine learning, Ecosystem, AI, Customer service

Figure’s AI chatbot is designed to enhance and streamline its HELOC application and origination process as well as the broader customer service experience on Figure’s platform.

Key Points: 
  • Figure’s AI chatbot is designed to enhance and streamline its HELOC application and origination process as well as the broader customer service experience on Figure’s platform.
  • The chatbot is available to provide operational support during and after Figure’s Customer Support Specialists’ operation hours.
  • During after-hours, Figure’s AI chatbot is designed to address fundamental inquiries, facilitating a seamless application process for customers.
  • The AI chatbot highlights Figure’s continued efforts to develop a best-in-class lending technology platform that makes the loan origination and loan purchasing process more seamless and efficient.

Figure Technology Solutions Introduces a Streamlined Mortgage Loan Registry to Lending Partner Ecosystem

Retrieved on: 
Thursday, April 11, 2024
Professional Services, Other Construction & Property, Residential Building & Real Estate, Finance, Construction & Property, Banking, Sale, Ecosystem, DART, Frommer, MERS, Grace note, HELOC, Mortgage Electronic Registration Systems, Bank

Figure Technology Solutions (“Figure”), provider of a disruptive and scaled technology platform built to enhance efficiency and transparency in financial services, today announced that it will begin making its DART System, a combined lien and eNote registry service, available to private and wholesale lending partners, initially for the HELOC product and eventually to other lending products.

Key Points: 
  • Figure Technology Solutions (“Figure”), provider of a disruptive and scaled technology platform built to enhance efficiency and transparency in financial services, today announced that it will begin making its DART System, a combined lien and eNote registry service, available to private and wholesale lending partners, initially for the HELOC product and eventually to other lending products.
  • DART is a pivotal solution for mortgage processing, designed to alleviate the burdens associated with manual assignments and document management, and to deliver an alternative to Mortgage Electronic Registration Systems (MERS) to the industry.
  • As DART becomes more broadly implemented, lending partners and loan buyers in Figure’s ecosystem can benefit from a streamlined and markedly efficient alternative to manual assignments and conventional loan tracking databases.
  • “Offering DART to our partners represents a transformative opportunity in the mortgage industry, helping to usher in an era of digitization and expedited transactional processing,” said Jackie Frommer, President of Figure Technology Solutions.

LoanCare® Receives Fitch Rating for Closed-End Second Lien Products

Retrieved on: 
Monday, April 15, 2024
HELOC, MSP, Environment, Fitch Ratings, Fitch, Investment, Probability, Fidelity National Financial

VIRGINIA BEACH, Va., April 15, 2024 /PRNewswire/ -- LoanCare®, LLC, a top U.S. mortgage subservicer, announced today that Fitch Ratings has assigned the company the U.S. residential primary servicer for specialty Closed-End Second Lien products rating of RPS2+; Outlook Stable.

Key Points: 
  • VIRGINIA BEACH, Va., April 15, 2024 /PRNewswire/ -- LoanCare®, LLC, a top U.S. mortgage subservicer, announced today that Fitch Ratings has assigned the company the U.S. residential primary servicer for specialty Closed-End Second Lien products rating of RPS2+; Outlook Stable.
  • The rating validates LoanCare's comprehensive understanding of the complexities involved in servicing home equity lines of credit (HELOC).
  • Due to the added requirements in second lien operations, knowing what's required for statements, ensuring interest calculations are accurate, and managing onboarding setup is critical.
  • Fitch Ratings is a prominent rating agency that evaluates the viability of investments concerning the probability of default.