Bonus Homes lands in Phoenix, unveils home equity release option
With $65.5M in seed funding, Bonus Homes plans to scale to 10,000 homes under management over the next decade.
Home Equity
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TransUnion: Mortgage, home equity lending grow despite high rates
Rate-and-term refinances climbed 44% and cash-out refis increased 15%. Home equity originations had their strongest annual growth since 2022.
Appeals court throws curve ball in potential class-action suit against Unison
A Ninth Circuit panel reversed a lower court’s dismissal order in a proposed class-action suit against Unison Agreement Corp.
Outdated tax law could cost senior homeowners looking to sell
The home equity tax law hasn’t been updated since 1997, meaning senior homeowners could pay a sizable chunk in taxes when they go to sell.
Home equity cushions homeowners against economic shocks
The latest NMDB report from FHFA shows that 82% of homeowners in America have at least 30% of equity in their homes.
Record-high home equity provides opportunity for the reverse mortgage industry
Record-high home equity is good news for seniors looking to remodel their homes, particularly those considering a reverse mortgage.
Global equity release market projected to top $56B by 2035
Global equity release — including reverse mortgages — could be in for pronounced growth over the next 10 years, according to a new report.
In Chicago, a reverse mortgage scammer left a lasting scar
Mark Diamond was sentenced to 17 years in prison for his crimes against elderly homeowners, but the damage in Chicago is still visible.
Global reverse mortgages in the news: growth, delay and launch
Reverse mortgages are seeing growth in Canada, setbacks in Australia and a new product launched in South Korea.
Longbridge’s new proprietary reverse mortgage aims to preserve home equity for heirs
A new private-label reverse mortgage from Longbridge aims to attract borrowers who are concerned about leaving assets for their heirs.