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Blog Entries By Sam Khater

Home Equity Part 2: Underwriting Standards

Stay High As Volumes Rise

Sam Khater    |    Market Trends

Average LTV of Originations

Home equity lending, as discussed in Part One of this blog, is making a comeback. But the last time home equity—or more specifically, subprime home equity—boomed it was enabled, in part, by very loose underwriting standards, and we all know how that turned out. So how’s the underwriting this time around? In a word: tight!

A new analysis of lines and loans...

As Equity Rises, So Do Prospects for New Home Equity Lending

Part 1

Sam Khater    |    Market Trends

Negative Equity Distribution

Home equity lending, for years the red-headed step child of our industry, is coming back into favor thanks to the growth in equity that millions of American homeowners are experiencing, and the improving economy.

2015 data from CoreLogic show that home equity lending has been increasing steadily in the past couple of years, with HELOC originations doubling from about a $50 billion...

Mortgage Risk Improves, but Watch for Red Flags

Legacy loans and home price volatility signaling “caution”

Sam Khater    |    Mortgage Performance

Bulk of New Foreclosures Starts are Legacy Loans

Mortgage risk performance is improving, but there’s still a ways to go. Two red flags in particular need to be watched by the industry: the major risk still posed by legacy loans, and higher home price correlations across various markets.

First the good news: Mortgage underwriting is relatively tight compared to the early 2000s, and serious delinquencies for recent...

What’s the Deal with Michigan Foreclosures?

Wayne County auction spikes numbers each September

Sam Khater    |    Market Trends

Each September, Wayne County, Mich. (part of the Detroit metropolitan area) puts up for auction tens of thousands of properties whose owners are more than three years behind on their property taxes. The auction is so large that it is apparent in the Michigan and U.S. completed foreclosure numbers. CoreLogic reports foreclosure trends each month, and recently launched an Insights App where...

Housing Starts Rise, but Completions Lag Behind

Sam Khater    |    Market Trends

Housing starts rose smartly in September, driven by the multifamily sector, but completions are not matching that hot pace, especially for low-end homes.

The implication is clear: with demand rising but supply in the form of completions slowing, there will be more pressure on home prices to rise, especially the low end due to the Federal Housing Administration’s decision in...

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