Responding to Dynamic Market Conditions, Home Lenders Enhance the Digital Experience for Home Equity and Offer Sophisticated Home Lending Portals
Summary
With cash-out refinancing currently a less enticing option for most borrowers, banks and non-banks are tweaking home equity line of credit (HELOC) and loan products. To minimize near-term repayment expenses, close to 20% of lenders offer the option for qualified customers to make interest-only payments during the HELOC draw period. For existing homeowners, 83% of lenders now offer online content showcasing how to start the process for a loan modification, repayment plan or alternative financial assistance. Since 1999, Keynova Groups Scorecards have served as the go-to source for leading financial services firms to obtain reliable competitive intelligence and actionable insights. The firms proven methodology and highly detailed results help its clients maximize the value of their online and mobile channels to deliver a premier experience to customers and prospects.