Borrower Behavior – Home Equity Lending Trends

“There’s plenty of capital; now it’s just a matter of the lenders getting comfortable getting their toes back in the water and going after this business,” said Keith Marvel, VP of Sales at Miniter Group.

ROCKLAND, Mass. (PRWEB) June 24, 2021

Miniter Group focuses on the rising demand for Home Equity Products as lenders compete to turn first-time HELOC borrowers into new-found customers. Learn more about current HELOC buyer behavior trends, optimizing HELOC product offerings to satisfy borrower needs, and creating revenue and positive loan growth in Miniter’s article post today.

As we come out of a complicated time in history, there are many advantages to the increasing optimism of consumers. That optimism, combined with low-interest rates, has fueled home buying and the market for real estate first mortgage loans—but what impact is current consumer behavior having on home equity lending?

Using data from the analytics firm Nomis, Keith Marvel, VP of Sales at Miniter Group, generates intuitive findings about the mindset of a home equity borrower. The results present many insightful solutions that lenders should be aware of for future home equity lending.

“The Nomis study shows only 32% of respondents looked at getting a home equity loan from a bank where they did not have their first mortgage,” Marvel explained. “Sixty percent went to their primary financial institution. You can see how difficult it is for a non-incumbent financial institution—an organization that does not hold the potential borrower’s first mortgage—to woo over and win a new home equity customer.”

How can a lender obtain HELOC business from more than its existing first mortgage base? Read Miniter Group’s article “Home Equity Lending Trends & Loan Growth Opportunities,” or watch the on-demand webinar recording today.

Miniter Group is a leading provider of collateral risk transfer solutions to the lending industry, providing blanket and lender-placed insurance solutions to over 600 lenders in 41 states. Miniter’s in-house software development team continues to work with lenders to enhance the fast-growing Borrower-CentricSM Insurance Tracking System. 

Miniter’s solutions include Vendor Single Interest Insurance, Lender Placed Insurance, Collateral Protection Insurance, and Mortgage Impairment Insurance.

We invite you to call us at 1-800-MINITER or visit us on the web at http://www.miniter.com.

Media Contact:
Ava Capodanno

Marketing Specialist

Miniter Group
781-982-3100
235411@email4pr.com
http://www.miniter.com

SOURCE Miniter Group

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