Equity, Refinancibility, and HELOC Concerns -Mortgage Monitor

Equity got some close scrutiny in the
current edition of Mortgage Monitor, a
monthly publication of Black Knight Financial Services.  The company used its first and second lien
mortgage databases to analyze current active mortgages to discover both the
state of the “refinancible population” as well as the nation’s overall equity

The Monitor
looked at how the equity situation has changed in recent months.   Trey
Barnes, Black Knight’s senior vice president of Loan Data Products says, “Due in no small part to 28 consecutive months of home price
appreciation since 2012, we’ve seen the share of borrowers with negative equity
drop down to just below eight percent as of July, down from a level of 33
percent at the end of 2011, and to its lowest point since 2007. An additional
8.5 percent of borrowers are in ‘near-negative equity’ positions, with less
than 10 percent equity in their homes. However, more than half of all borrowers
have 30 percent or more equity, a level not seen in nearly eight years.”


…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Comments are closed.