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North America Consumer
Home Equity Loan Survey
Highlights
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
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
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
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%
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
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
Learn More
www.accenture.com/HomeEquityLending
Join the conversation
@BankingInsights
#HELoanSurvey

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North America Consumer Home Equity Loan Survey - Highlights

  • 1. North America Consumer Home Equity Loan Survey Highlights
  • 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. 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. 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. 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. 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. 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. Learn More www.accenture.com/HomeEquityLending Join the conversation @BankingInsights #HELoanSurvey