HELOCs; Immigration, Labor, Lot Availability; Trends Impacting Builders

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Posted To: Pipeline Press

Banks and non-bank mortgage companies aren’t enemies, but plenty of non-bank lenders are envious of the ability of banks to offer HELOCs and other portfolio products, especially as banks try to capitalize on rising housing values and potentially falling refinancing demand. “Banks extended $156B in HELOCs in ’15, up 24% Y/Y and the most since ’07.” We are entering in the “home building” season in many parts of the nation. (We are also entering the kitten season, but that is a different story.) What is going on with the home builders out there , and what are the trends that impact lenders? First of all, keep in mind that the housing industry is not immune to immigration – legal or otherwise. Many immigrants are employed in the construction industry and have helped maintain costs low and…(read more)

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