Taking the Bait

TheMReport — News and strategies for the evolving mortgage marketplace.

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12 | Th e M Rep o RT advertisement A s the market shifts from refinance to purchase money and origination volumes decline, lenders need to redefine acquisition strate- gies in order to fill their loan pipelines—especially since home values are on the rise and the pool of homeowners with lend- able equity is growing. As interest rates rise, home- owners will take advantage of home equity lines of credit (HELOCs) to pay down debt or make enhancements to their existing homes. "Spring is here and consumers' desire for credit appears to be rising alongside the mercury," said Amy Crews Cutts, chief economist at Equifax. "Credit card and home equity revolving lines of credit origina- tions were up sharply in the first quarter over the previous year, signaling that not only are consumers interested in credit, but that banks are more willing to offer it. HELOCs from the mid- 2000s are also hitting their end of draw, presenting opportunities for refinancing these lines." To take advantage of the market, clients need flexible marketing and acquisition tools that help identify candidates Preparing for the Rise in Home Equity

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