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Home Equity Loans

Welcome to the News View for "Home Equity Loans".

Here, on these archive pages, you'll find all of the articles on Payments News for Home Equity Loans listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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June 15, 2006

The TaxPayer ID Mortgage

Carolyn Said writes for the San Francisco Chronicle about the growth in "taxpayer ID mortgage loans" being granted on the basis of the applicant's taxpayer ID, not Social Security Numbers. So called "undocumented immigrants" often have taxpayer ID's - issued by the IRS to both resident and non-resident aliens - but not SSNs. Said reports that "in California, Wells Fargo and Citibank both offer taxpayer ID mortgage loans, albeit in small programs."

April 27, 2006

A Look At Home Equity Loans

Ruth Simon of the Wall St. Journal takes a comprehensive look at the current state of home equity lending and what some banks are doing to keep their home equity lending business growing with promotions, special deals, etc. in the face of higher interest rates. This has become a big business for banks as "balances on home-equity lines of credit have climbed 71% to $543.2 billion over the last two years."

February 27, 2006

Another Look At Fed's Consumer Finances Survey

David Wyss reports for Business Week on last week's release of the Federal Reserve's triennial Survey of Consumer Finances.

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February 07, 2006

Fed: Consumers Slow Increase in Revolving Debt in 2005

The AP reports on Federal Reserve's report that 2005 saw the smallest growth in consumer revolving debt in 23 years, rising just 2.6 percent for the year. Revolving debt actually fell by 1.4 percent on an annualized basis for December 2005.

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January 18, 2006

Consumers Plan to Reduce Credit Card Debt in 2006

Experian and the Gallup Organization have announced the latest monthly findings from their monthly survey of consumers regarding their views on credit. 65 percent of consumers say they are "very likely" to reduce their credit card debt in 2006. Another 19 percent say they are "somewhat" likely to do that. Consumers are less optimistic that they will reduce their overall level of debt -- just 47 percent say they are "very likely" to make that goal, while another 25 percent are "somewhat likely" to do so.

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June 15, 2005

Fidelity Information Services and First Data Deliver Credit Card-Enabled HELOC Solution

Fidelity Information Services and First Data Corporation have announced a strategic alliance agreement through which First Data's credit card processing capabilities will be integrated with home equity lines of credit (HELOCs) serviced on Fidelity's industry-leading Mortgage Servicing Package (MSP) software.

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May 16, 2005

U.S. Warns Lenders To Elevate Home Equity Lending Standards

Kirsten Downey writes for the Washington Post on new guidelines from federal banking regulators regarding home equity lending.

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March 27, 2005

Many Replace Credit Card Debt With Home Loans

Ted Griffith reports for the Gannett News Service on how revolving credit card users are using home equity loans to pay down their credit card debt.

December 07, 2004

Home Equity Encroaches on Credit Cards

Business Week reports on the increasing tendency of consumers to tap home equity loans or lines of credit to pay off their credit card outstandings.

Growth in credit-card receivables -- what card holders owe -- has slipped to low single digits for issuers in the last couple of years, and some industry watchers think the trend is here to stay.

"The logic of borrowing at 3% to 7% on a home-equity loan compared to 13% on a credit card is too powerful to ignore," says Morgan Stanley analyst Kenneth A. Posner.

Note: Tom Brown of Bankstocks.com includes a link to Posner's report on home equity lending (done in conjunction with Betsy Graseck) in this weblog posting

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