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This article reviews banks who originate, purchase and hold home equity loans (HELOANs) and lines of credit (HELOCs) on their balance sheet. We use quarterly bank financial statements to develop the information shared in this article, and will provide updates after the end of each quarter. These disclosures break out closed-end 1st liens and junior liens (‘seconds’), and open-ended lines of credit.
Bank home equity on the balance sheet
In 2023 there were 4,304 total banks submitting quarterly financial disclosures with 3,638 (84.5%) recording HELOANs and 3,332 (77.4%) recording HELOCs as ‘held for investment’ on the balance sheet.
For HELOANs there is a total $40.8BN in current outstanding balance across 384,784 loans, with an average loan amount of $106,000 for new originations, whereas HELOC totals are much larger at $272BN in current outstanding balance for 1,388,095 lines-of-credit, with an average loan amount of $196,000 for new originations.
Bank home equity originations market in 2023
In 2023, over 2,000 banks originated 125,931 HELOANs with a total balance of $13.3BN. For HELOCs over 1,500 banks originated 218,496 lines-of-credit with a total balance of $42.8BN. For comparison, only 845 banks submitted data on home equity originations & purchases in HMDA 2023 due to the minimum reporting and asset size guidelines set out by the Consumer Finance Protection Bureau (CFPB).
To see the number of HELOANs and HELOCs held and originated by individual banks, quarterly through 2023, we have developed the ‘Top Bank Home Equity Lenders in 2023’ product below. A review of bank first mortgage agency and portfolio originations in 2023 is available at GSE appraisal alternatives growing at banks in 2024.
Top Bank Home Equity Lenders in 2023
The Top Bank Home Equity Lenders in 2023 shows top originations for home equity loans (HEL) and home equity line-of-credits (HELOCs), by quarter in 2023, in an easy-to-use format for analysis and loading into financial, sales and marketing systems.
$750.00
Definitions & data sources
Home equity loans (HELOANs) comprises closed-end junior liens, secured by 1-4 single family residential properties. Home equity lines-of-credit (HELOCs) comprises open-ended lines-of-credit, secured by 1-4 single family residential properties. HELOCs can be in the first or junior liens position.
HMDA 2023 data is useful for reference data and for reconciliation of originations on an annualized basis. More information about HMDA data is provided in at HMDA data for budgeting & forecasting – the pros and cons.