With the housing market entering its third consecutive year of rising interest rates and low home inventory, many Americans find themselves sitting on untapped equity. In fact, there is an estimated $16 trillion in tappable home equity across a pool of 80 million homeowners. Enter the Home Equity Line of Credit (HELOC) as an increasingly attractive tool for homeowners looking to achieve their financial goals from home renovations to debt consolidation.
To illustrate the highlights and possible challenges lenders face when offering HELOC products, and the support available by working with a subservicer, Priscilla Woods, VP, HELOC and Special Loans Manager, shares her experience with Progress in Lending. Explore topics such as:
- Managing Draws
- Regulatory Compliance
- Loan Administration
- Fraud & Risk
- Default Administration
- and more.
Read more in Progress in Lending here, then contact us when you’re ready to partner with a seasoned HELOC subservicer for a superior customer experience.
Priscilla Woods is Vice President, HELOC and Special Loans Manager at LoanCare. Priscilla has 25 years of experience in the mortgage servicing industry with a focus on special loan products such as HELOC, Construction to Permanent, 203K and 203B, Commercial, and SCRA. She joined LoanCare in 2021, and previously held leadership roles at TIAA.
