Offering a revolving line of credit enables homeowners to borrow against the equity of their homes, rather than receiving lump sum loans. This flexibility is particularly appealing for projects with varying timelines and costs. It is important that servicers have a comprehensive understanding of the nuances involved in handling HELOCs. LoanCare®, for example, has a dedicated HELOC team who knows exactly what is required including disbursement management, calculation accuracy, setup, communication, regulation, and much more.

By partnering with a servicer who provides data analytics expertise and on demand access, lenders can gain insights into borrower behaviors and market trends to enhance their ability to reach customers with relevant financial offers up front. In addition, leveraging advanced servicing platforms like LoanCare Analytics™ can help lenders effectively manage HELOC servicing nuances whether open-ended, segmented, fully amortizing, or interest-only and the related regulatory landscape.