Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

North America Consumer Home Equity Loan Survey - Highlights

Infographic providing highlights from the 2016 North America Consumer Home Equity Loan Survey.

Related Books

Free with a 30 day trial from Scribd

See all

Related Audiobooks

Free with a 30 day trial from Scribd

See all

Comments are closed

  • Be the first to comment

North America Consumer Home Equity Loan Survey - Highlights

  1. 1. North America Consumer Home Equity Loan Survey Highlights
  2. 2. Copyright © 2016 Accenture All rights reserved. 2 Accenture’s survey of 6,000 consumers points to a re-emerging market for home equity lending. Home Equity – A Resurging Market 59% $4.5 trillion $7.6 trillion In total home equity value Untapped home equity lending About $19,000 Increase in equity available to the average borrower since last year $1 trillion Latest annual increase in total equity, at highest level since 2007 Value of Home Equity in the United States August 2015 estimate
  3. 3. Copyright © 2016 Accenture All rights reserved. 3 Educating Borrowers on Home Equity Loan Options Home Equity – Opportunities Only 54%of borrowers know they can use loan for non-home purposes 59% don’t know they can use online or mobile during the lending process 21% know about accessing the loan via credit card 41%know about using home equity loans to refinance debt
  4. 4. Copyright © 2016 Accenture All rights reserved. 4 Capturing Borrower Satisfaction Home Equity – Opportunities 93% Users of digital during loan origination who were highly satisfied 92% Borrowers who value doing independent online product research
  5. 5. Copyright © 2016 Accenture All rights reserved. 5 Emergence of Digital and Alternative Lenders in the Space is Increasing Competition Home Equity – Challenges June 2010 55.2% Market Share of Three Largest US Home Equity Lenders Steady loss of market share over the past five years Sept 2015 43.9% decline in outstandings on a YoY basis fallback for the latest quarter through 3Q15 The Big Three continue to see negative momentum -9% -3%
  6. 6. Copyright © 2016 Accenture All rights reserved. 6 Digital and Non-Bank Competition Growing – Banks Must Reposition to Compete Home Equity – Challenges Digital Competition 81% Borrowers who research Leverage online lenders, aggregators or peer-to-peer providers 41% 28% Students 18-24 year olds Young borrowers are most apt to apply with non-bank lenders Non-Bank Lenders
  7. 7. Copyright © 2016 Accenture All rights reserved. 7 Six Drivers to Stimulate a Provider’s Home Equity Business Home Equity – Next Steps Copyright © 2015 Accenture All rights reserved. These opportunities provide lenders the ability to scale and get more high quality customers in the funnel. 1 Integrate and optimize search engine marketing 2 Leverage data as a strategic asset 3 Excel at converting leads to loan applications 4 Introduce a customer centric fulfillment model 5 Automate the fulfillment process 6 Extend the digital ecosystem
  8. 8. Learn More www.accenture.com/HomeEquityLending Join the conversation @BankingInsights #HELoanSurvey

    Be the first to comment

    Login to see the comments

  • MeganMartin2

    Apr. 18, 2016

Infographic providing highlights from the 2016 North America Consumer Home Equity Loan Survey.

Views

Total views

3,207

On Slideshare

0

From embeds

0

Number of embeds

1,611

Actions

Downloads

18

Shares

0

Comments

0

Likes

1

×