Industry News

SharperLending reports growth in HELOCs

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SharperLending LLC, provider of a secure Web-based platform that enables lenders to order, store and manage mortgage products at a single point of entry, announced that the company experienced its highest transaction volume in August with the ordering of home equity lines of credit products (HELOCs). SharperLending reported 21 percent growth in HELOC products last month and 41 percent growth from the beginning of Q2 2005, according to the announcement. The American Bankers Association Home Equity Lending Survey Report for 2004 reported that "Banks with HELOCs and HELs (home equity loans) average a 1 percent return on assets (ROA) overall, but earn 1.5 percent on their HELOCs and 1.25 percent on their HELs, which means that these two products are more profitable for banks than their average loans." "Bundled services platforms enable banks to strengthen their roles as lenders and create a sophisticated home equity lending environment. Home equity loans and lines of credit continue t...