Equity Protection Program
Be a Home Equity Lending Hero with van Wagenen! Generate more revenue, minimize credit default risk
The Equity Protection Program helps lenders leverage their deposits to make more loans by providing credit default insurance for high loan-to-value home equity loans and lines of credit. The Equity Protection Program opens up new revenue lines while at the same time minimizing the risk associated with expanding lending guidelines.
An Equity Protection Program enables lenders to approve credit worthy borrowers who require higher than typical loan to value parameters. It protects the lender in the event of borrower default and reduces loan loss reserve requirements. The program is available for home equity lines of credit, closed-end seconds, purchase-money seconds, and home improvement loans. The program protects the lender in the event of borrower default.
The Equity Protection Program is a win for both lenders and borrowers.
- Up to 100% LTV on loans & lines of credit
- Up to 133% LTV on home improvement loans
- Maximum of $250,000 per loan/line
- Terms up to 360 months (term varies by loan type)
- Transparent to the borrower
- Costs covered by slight bump in interest rate
- Balance paid in full upon default
- No foreclosure required
- Policies underwritten by A-rated carriers
- Claims turned in approximately 30 days
- Premium based on monthly outstanding balance
News of increasing home equity lending volume is all around. In a market where homeowners are leveraging the equity in their homes to fund important needs such as major purchases, college education, home repair and more, it is critical for lenders to maximize their ability to meet member demand.
Get into the game with an Equity Protection Program from van Wagenen, We’ll help you stay competitive with alternative lending sources and gain an edge in this competitive market by generating more home equity loans and reducing loan losses.
For your complimentary portfolio analysis and more information on how the Equity Protection Program fits, contact sales@vanwagenen.com.