In today’s challenging market, lenders have a unique opportunity to capitalize on the significant increase in home equity, worth $5.5 trillion due to rising home values.
Homeowners looking to harness their increased equity are utilizing home equity products for renovations or debt consolidation, while lenders can benefit from innovative valuation models.
Automated Valuation Models (AVMs) and digital property condition reports streamline the collateral valuation process, allowing lenders to save time and costs while delivering faster approvals.
By leveraging AVMs effectively, lenders can maintain a competitive edge as they cater to the growing demand for home equity lending.
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