Latest news with #Figure
24-05-2025
- Automotive
Trumps wants to create manufacturing jobs. His tech allies invest in robots to do the work.
President Donald Trump has disrupted global trade and roiled markets in an effort to bring manufacturing jobs back to the U.S. Some of his top tech allies, however, have backed ventures that replace human workers with robots. Elon Musk, a top donor and adviser to Trump, has touted humanoid robots as a future growth area for electric-carmaker Tesla. "You can produce any product,' Musk said of the robots' potential capacity during a February interview with Dubai's World Governments Summit. Amazon founder Jeff Bezos, who Trump last month called 'terrific,' has invested in several advanced robotics firms. Bezos last year poured funds into Figure, a humanoid robot company that says its initial rollout will focus on manufacturers and warehouses, among other business applications. 'We believe humanoids will revolutionize a variety of industries,' the company says on its website. Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman – both of whom joined Trump on his recent trip to the Middle East – helmed their respective companies as each invested in Figure. OpenAI ended its partnership with Figure last year. 'Trump is talking about bringing back the jobs, and he's not understanding the tension between that goal and automation, which the tech bros have enthusiasm for,' Harry Holzer, a professor of public policy at Georgetown University and a former chief economist at the U.S. Department of Labor, told ABC News. 'There's a fundamental conflict between those goals.' Musk did not immediately respond to ABC News' request for comment made through Musk-owned firm SpaceX. Neither Bezos, Huang nor Altman responded to ABC News' request. Speaking at a conference in April, Huang said the onset of artificial intelligence would fuel "new types of factories," which in turn would create jobs in construction and steelmaking, as well as in trades such as plumbing and electricity. Even more, Huang said, AI is set to trigger a surge in productivity at companies that adopt the new technology, allowing them to add employees as the firms increase output and revenue. "New jobs will be created, some jobs will be lost, every job will be changed," Huang said. "Remember, it's not AI that's going to take your job. It's not AI that's going to destroy your company. It's the company and the person who uses AI that's going to take your job. And so that's something to internalize." Even after a rollback of some levies, consumers face the highest overall average effective tariff rate since 1934, the Yale Budget Lab found earlier this month. A key reason for the tariffs, White House officials say: Reshoring factories and rejuvenating employment in the manufacturing industry. Commerce Secretary Howard Lutnick said this month in an interview with Fox News that Trump's vision for ushering in a "golden age" for America involved enticing manufacturers to open factories and build in the United States. "We're going to have huge jobs in manufacturing. You've heard the president talk about trillions and trillions of factories being built in America," he said in the interview on May 11. In response to ABC News' request for comment, White House Spokesperson Kush Desai said "the importance of President Trump's push to reinvigorate American industry goes beyond creating good-paying jobs for everyday Americans." "Supply chain shocks of critical pharmaceuticals, medical equipment, and semiconductors during the COVID era prove that America cannot rely on foreign imports. The Trump administration remains committed to reshoring manufacturing that's critical to our national and economic security with a multifaceted approach of tariffs, tax cuts, rapid deregulation, and domestic energy production," Desai added. The share of U.S. workers in manufacturing has plummeted for decades. Roughly 8% of U.S. workers currently hold positions in manufacturing, which marks a steep decline from about a quarter of all employees as recently as 1970. Researchers attribute such decline to overlapping trends, including the offshoring of manufacturing to low-wage markets overseas and the adoption of labor-saving technology throughout the sector. Long before current advances, automation significantly increased productivity in U.S. factories, meaning the same number of workers could produce many more goods, researchers at Ball State University found in 2015. As a result, they said, manufacturing employment stagnated for decades even as output climbed. 'Automation is something we've seen for a long time,' Philipp Kircher, a professor of industrial and labor relations at Cornell University, told ABC News. Some of Trump's tech allies have backed firms that seek to further automate manufacturing, touting a new wave of artificial-intelligence equipped robots as a replacement for some workers and salve for labor shortages. Robotics outfit Vicarious boasts $250 million in investments from a set of backers that includes Bezos, Musk and Meta CEO Mark Zuckerberg – all of whom flanked Trump during his inauguration. On a webpage displaying photos of robots for use in warehouse settings, Vicarious tells potential clients that the products can 'reduce both your costs and person-hour needs.' In 2022, Vicarious was acquired by Alphabet-backed robotics software firm Intrinsic. Alphabet CEO Sundar Pichai also sat alongside tech leaders at Trump's inauguration. Alphabet did not respond to ABC News' request for comment. Meta declined to comment. Yong Suk Lee, a professor of economics and technology at the University of Notre Dame, described the views on automation among Trump's tech allies and some of his trade advisers as 'opposed.' The tech position, Lee said, would likely win out, even if some firms do open plants in the U.S. 'If you want to reshore, are you going to pay the same wages as Vietnam? Probably not,' Lee said. 'Companies are faced with higher labor costs. In that case, they'll probably automate.' Discordant views among some tech leaders and White House officials surfaced in April, when Musk sharply criticized tariff-advocate Peter Navarro, Trump's senior counselor for trade and manufacturing. Navarro, Musk said, is 'truly a moron.' In an interview with CNBC, Navarro responded, saying Musk "isn't a car manufacturer — he's a car assembler.' To be sure, analysts said, automation in manufacturing would likely continue regardless of support from Trump's tech allies, since producers are locked in a competition to lower costs and increase output. The precise outlook for manufacturing employment is unclear, they added, since additional technology may add jobs for those maintaining and optimizing the machinery. 'Whether it's the companies that currently support the U.S. president or not, somebody would be doing this innovation, maybe slightly slower,' Kircher said. Even at current employment levels, a labor shortage bedevils U.S. manufacturers. Roughly one of every five U.S. factories that failed to produce at full capacity cited a shortage of workers, Jason Miller, a professor of supply chain management at Michigan State University, found in a January study analyzing government data. Agility Robots, an Amazon-backed firm building humanoid robots, identifies the current push for rejuvenated U.S. manufacturing as an opportunity for greater adoption of technology. 'Manufacturing companies are seeing a massive reshoring movement spanning various industries,' Agility Robots says on its website. 'Adding a humanoid robot to your manufacturing facility is a great way to stay on the leading edge of automation.' In response to ABC News' request for comment, an Amazon spokesperson pointed to previous remarks about robotics made by a company executive. "Our goal is to ensure these systems improve safety and productivity. Technology should be used to help us retain and grow our talent through skill development and reimagining how we make our workplace better, both in productivity and safety. If we do this well, we're certain to always innovate for our customers," Tye Brady, chief technologist at Amazon Robotics, said in a September blog post.
Yahoo
23-05-2025
- Entertainment
- Yahoo
Robots square off in world's first humanoid boxing match
After decades of being tortured, shoved, kicked, burned, and bludgeoned, robots are finally getting their chance to fight back. Sort of. This weekend, Chinese robotics maker Unitree says it will livestream the world's first boxing match between two of its humanoid robots. The event, titled Unitree Iron Fist King: Awakening, will feature a face-off between two of Unitree's 4.3-foot-tall G1 robots. The robots will reportedly be remotely controlled by human engineers, though they are also expected to demonstrate some autonomous, pre-programmed actions as well. Earlier this week, the two robots previewed some of their moves at an elementary school in Hangzhou, China. Video released by Unitree earlier this month shows the robots, boxing gloves strapped on, 'training' with their human coaches. The petite robots throw a few hooks with their arms before being pushed to the ground. One quickly gets back up and, after briefly struggling to face the right direction, spins around and delivers a straight kick, 300-style. Unitree claims its robots use a motion-capture training system that helps them learn from past mistakes and improve over time. The training video also shows the two robots briefly sparring with each other. The clacking sound of steel fills the room as they exchange a flurry of punches. At one point, both simultaneously deliver knee kicks to each other's groin area, sending the robot in blue gear tumbling to the ground. 'The robot is actively learning even more here skills,' the company notes in a caption towards the end of the video. Related: [Worryingly bendy humanoid robot can crush nuts, slice Coke bottles] The human tendency to force robots to fight for our amusement isn't entirely new. The show Battle Bots, which dates back to the late 1990s revolved around engineers creating and designing remote-controlled robots, often armed to the teeth with electric saws and flamethrowers, and forcing them to duke it out. Many, many robots were reduced to scrap metal over the show's 12 seasons. Since then, engineers around the world have been experimenting with new ways to teach bipedal, humanoid robots how to throw punches and land kicks without stumbling or falling. Sometimes these machines are remotely controlled by human operators. In other cases, semi-autonomous robots have learned to 'mirror' physical movements observed in humans. More advanced autonomous robots, like those being developed by Boston Dynamics and Figure, can move around their environment and perform pre-programmed actions. Neither of those companies, it's worth noting, have announced any plans to make their robots fight. Gentlemen, welcome to Fight Club, for robots! Follow us & comment below if you want to try out yourself. — UFB – Ultimate Fighting Bots (@UFBots) March 20, 2025 China is quickly becoming a center stage for public displays of humanoid robot athletic competition. Last month, more than 20 robotics companies entered their robots into a half-marathon race in Beijing, where they competed against each other and human runners. The results were underwhelming. Media reports from the event claimed many of the machines failed to make it past the starting line. Others veered off course, with one reportedly even crashing into a barrier. The first robot to cross the finish line—a machine designed by the Beijing Humanoid Robot Innovation Center—did so nearly an hour and forty minutes after the first human completed the race. Only six robots finished.
Business Wire
21-05-2025
- Business
- Business Wire
Figure Technology Solutions Secures Strategic Financing Partnership with Victory Park Capital
NEW YORK & CHICAGO--(BUSINESS WIRE)-- Figure Technology Solutions ('Figure'), a technology platform building the blockchain-based capital markets of the future, has entered into a financing agreement with Victory Park Capital ('VPC'), a leading global alternative investment firm specializing in private credit. The transaction includes the sale of Figure's first – and the industry's first – pool of Crypto-Backed Loans. This milestone accelerates Figure's Crypto-Backed Loan business, which enables asset owners to borrow against Bitcoin and Ethereum holdings, to achieve scale. 'Victory Park Capital is an early mover in financing innovative fintech businesses, and we're excited to partner with an institutional asset manager that shares our vision,' said Todd Stevens, Chief Capital Officer of Figure. 'We're applying the template we pioneered with our blockchain-powered mortgage product to add a second product at the intersection of cryptocurrency and traditional finance.' Figure operates blockchain-native marketplaces for Real World Assets, like mortgage and consumer finance, as well as non-real-world assets such as cryptocurrencies. Figure uses Provenance Blockchain, an L1 public blockchain, for crypto loan origination and monitoring. Building off Figure's success in the mortgage space, asset owners take advantage of the flexibility of Figure's offering – which include LTVs up to 75% and longer-term financing – to enjoy liquidity while maintaining their long exposure. 'By offering its customers innovative products, Figure is challenging both the status quo of traditional finance and less flexible crypto lending solutions, while charting a new course for decentralized finance,' said Tom Welch, Partner at VPC. 'We have seen immediate demand for the Crypto-Backed Loan product and believe strongly in the company's highly experienced management team and underlying proprietary technology. We are excited to support the Figure team as they expand their suite of lending solutions.' Throughout the past year, Figure has been expanding Figure Connect, a blockchain-based marketplace that connects loan originators and buyers, ultimately creating the first highly liquid private capital marketplace for loans. With this new transaction, Figure adds crypto-backed loans to its Connect Marketplace. ABOUT FIGURE TECHNOLOGY SOLUTIONS Founded in 2018, Figure Technology Solutions ('Figure') is a blockchain–based technology platform built to enhance efficiency and transparency in financial services. Figure Connect is powered by the Provenance Blockchain, which onboards all of Figure's loans, and is the world's largest originator of Real World Assets. Its subsidiary, Figure Lending LLC, is the largest non-bank provider of home equity lines of credit; its software has been used to originate more than $14B of home equity. Figure's technology is embedded across a broad network of loan originators and capital markets buyers and is used directly as well by homeowners in 50 states and Washington, DC. With Figure, homeowners can receive approval for a HELOC in as fast as five minutes and receive funding in as few as five days. To date, Figure has embedded its HELOC in more than 135 partners, including Rate (formerly Guaranteed Rate), CrossCountry Mortgage, Movement Mortgage, Goodleap, and many other fintechs, depositories, and independent mortgage banks. For more information, visit or follow Figure on LinkedIn. ABOUT VICTORY PARK CAPITAL Victory Park Capital Advisors, LLC ('VPC' or the 'Firm') is a global alternative asset manager that specializes in private asset-backed credit. In addition, the Firm offers comprehensive structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. The Firm was founded in 2007 and is headquartered in Chicago. In 2024, VPC became a majority-owned affiliate of Janus Henderson Group. The Firm leverages the broader resources of Janus Henderson's 2,000+ employees across offices in 25 cities worldwide. VPC is a Registered Investment Advisor with the SEC. For more information, please visit
Yahoo
21-05-2025
- Business
- Yahoo
Do you need an appraisal for a HELOC or home equity loan?
Whether you're eyeing a home renovation, consolidating debt, or starting a business, borrowing against your home equity can be a viable option. But before you get ready to cash in, there is one step you will likely need to take: getting your home appraised. In this guide, we will dive into whether you need an appraisal when applying for a home equity loan or HELOC, how the process works, the types of appraisals and how much they cost. The short answer is typically yes. Before lenders approve you for a HELOC or home equity loan, they usually require an appraisal, which is an assessment of your home's worth – what it would fetch if sold on the current housing market. By determining your home's value, the appraisal will help determine the amount of equity you have, and the amount the lender will allow you to borrow against. Typically, you won't be able to access all your available equity, as most lenders cap that amount at 80 to 85 percent of your ownership stake. Keep in mind: Your home equity stake basically equals your home's current value, minus your outstanding mortgage. Home appraisals confirm a property's current market value. Everything about the process of getting HELOCs and home equity loans stems from that value. You may recall that, when you bought your home, your mortgage lender ordered an appraisal to determine what the property was worth, and how big a sum you could borrow for it. The aim here is similar. 'Home equity products are secured against the borrower's home and lenders want to ensure sufficient equity even in the case of home price fluctuations,' says Shoji Ueki, chief growth officer at Point, a home equity investment firm based in California. 'If the market changes or something unexpected happens, we want to be sure the value of the home still supports the investment amount. It helps us manage risk and ensures the borrower isn't overleveraging their home.' A home's valuation is also a 'key driver in the pricing' of the loan, explains Kiran Kuar, head of credit at Figure, a North Carolina-based HELOC lender. Lenders look at your loan-to-value ratio (LTV), which is the amount of money you're borrowing divided by the value of your property. If that percentage is higher than the lender's LTV threshold, they may reduce your loan amount, or even deny your application altogether. If your LTV is in the acceptable range, but close to the max, they may approve the loan, but with a higher interest rate. Despite its importance, a new appraisal for a HELOC or home equity loan is not an absolute requirement in all cases. If you happen to have gotten a full home appraisal shortly before starting your HELOC application – while applying for another loan, say – your lender might accept it. 'If a prior appraisal is available and meets current investor guidelines, it may be reused,' says Vishal Garg, CEO of Better, a HELOC lender headquartered in New York. Generally, that appraisal should be relatively recent, no more than six months old (since the whole point is to determine the home's current market value). Increasingly, home equity lenders are also waiving the traditional in-person appraisal for an automated valuation model (AVM). An AVM is a computer-based algorithm that uses publicly available data to estimate a home's value, without human input. Obviously less time-consuming and costly, AVMs are often used for borrowers with strong credit scores (in the mid-700s to 800s) looking for a small loan relative to the value of their home or to the amount of their equity (since they've paid off a significant portion of their existing mortgage). No humans needed Over 75 percent of HELOC and home equity loan originations now are subject to an automated valuation model (AVM) or desktop valuation (DV) method, with the majority of both categories entailing only an exterior/drive-by or no inspection at all. AVMs were utilized on 43% of home-equity loan originations. The AVM 'is a very frictionless, zero-time method to value someone's home,' says Kuar. 'The borrower does not have to wait. It's instant. You can present a decision fairly quickly to the consumer.' Kuar acknowledges that AVMs may be limited by the data they have, though. They 'assume that the house is in average condition and in a similar condition to other properties in the immediate neighborhood,' she says. That means it won't capture any extensive value-enhancing upgrades or renovations you've made to your property (of course, it won't indicate if the place is in disrepair, either). Once you apply for your home equity loan or HELOC, your lender will let you know if an appraisal is required and what type will be used. Here's a snapshot of the different types of appraisals that may be used, what they entail and other criteria: Appraisal type Description Data sources Time to complete Cost Full appraisal Most comprehensive; includes physical inspection of interior and exterior Site visit, recent comparable sales, multiple listing service (MLS) data, market data, public records 30 minutes–several hours for inspection; 1–3 weeks total $300 or more (depends on size of home) Automated valuation model (AVM) Computer-generated estimate using statistical models and public data Public records, recent comparable sales, market data A few minutes or less $10-25 Desktop valuation /appraisal (DV) Professional appraisers make valuations based solely on data, without any physical inspection MLS data, public records, recent comps, photographs 1–3 days $75-$200 Hybrid appraisal Combines a field inspection with a desktop valuation by an appraiser Site visit, recent comps, market data 30–60 minutes for inspection; 2-7 days for analysis $150-$300 Broker price opinion (BPO) Opinion of a broker or real estate agent about the value of home Recent comparable sales, market data 1 day or more $50-$300 Drive-by appraisal Appraiser views the property from the street; no interior inspection Exterior observation, MLS data, public records, recent comps, photographs 15–30 minutes; report within a few days $100-$150 Learn more: Home appraisal vs. home inspection: What is the difference? No-appraisal HELOCs You've probably seen some lenders advertising no-appraisal HELOCs, which are somewhat of a misnomer. With these loans, a professional won't be scouring through every nook and cranny of your home as with a traditional appraisal. However, the lender may use alternative methods to value your home, like AVMs, desktop valuations or drive-by appraisals. The appraisal process for a HELOC or home equity loan varies depending on the lender, but the purpose is the same: to determine the market of your home. Here's a step-by-step run-through of the process from beginning to end. Begin the HELOC or home equity loan application by providing details about your income, debts, property and financial history. After the loan application is submitted, the lender will evaluate your financial profile, including your credit score and existing mortgage balance. If you meet the initial criteria, the lender orders an appraisal to determine your home's market value. The type of appraisal (full, drive-by, desktop, or AVM) depends on the lender's policies and loan amount. If an appraisal fee applies, the borrower usually pays for it, while the lender chooses who performs it. If an in-person appraisal is required, you will need to schedule a time for the appraiser to visit your home. The findings of the appraisal are compiled in a report, including the estimated value of the property and supporting documentation such as recent comps and then submitted to the lender. The lender uses the appraisal to calculate your home equity and determine how much they're willing to lend. How quickly you receive a decision will vary depending on the lender and the type of appraisal conducted. Based on the appraisal and your financial profile, the lender finalizes their offer. The findings of the appraisal may impact your loan terms or approval. You may also be asked for more documentation or offered a reduced loan amount. After you see the results of your appraisal, don't be surprised if the value of your home is vastly different from the estimate given by a real estate listings site or calculator 'That number published online is a very rough estimate,' says Jennifer Wentworth, owner and certified residential appraiser at MLS Appraising, an appraisal company based in Denver. 'The actual value can vary quite a lot from that. It can be less and it can be more, but it doesn't mean that it's a bad appraisal or that there's a problem with the appraisal. It's just what happens when 'we're actually looking at the specifics for a home in the actual market.' Can you get a home equity loan or HELOC without an appraisal? You might be able to get a home equity loan or HELOC without a full appraisal, if your lender uses an automated valuation model, a desktop valuation or a drive-by appraisal to value your home (or some sort of combination). However, lenders require some way to confirm your home's current market value before approving your loan. How should you prepare for a home equity appraisal? If your lender ordered an in-person appraisal, make sure your home is clean and well-maintained. Complete any minor repairs and gather information on recent improvements or upgrades you've made. It also helps to know the sale prices of similar homes in your neighborhood to give the appraiser some context. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
18-05-2025
- Business
- CNBC
Figure HELOC review: Access funds in five days
Founded in 2018 by SoFi's Mike Cagney, fin-tech startup Figure is one of the largest providers of home equity lines of credit (HELOCs) in the U.S, with more than $14 billion lent to over 200,000 households. We love Figure's speed and efficiency: Customers can get approved in as little as five minutes and get funding in as few as five days. Figure also offers virtual closings in states where it's allowed. But some key facets differentiate it from a traditional HELOC, including its relatively short draw period and the fact that borrowers must withdraw their full line of credit at the time of origination. Apply online for personalized rates HELOC 5 to 30 years 670 Unlike a home equity loan, which is disbursed in a lump sum, a HELOC gives borrowers a revolving line of credit. You can make multiple withdrawals and only have to pay interest during their draw period, which is usually 10 years. A Figure HELOC, however, shares features of both traditional HELOCs and home equity loans: It has a significantly shorter draw period and borrowers must withdraw the full line of credit upon origination. (As you repay the initial withdrawal, however, you can make more withdrawals.) The benefits and drawbacks of a Figure HELOC Figure offers home equity lines of credit in all states but Hawaii. Unlike most HELOC issuers, Figure requires borrowers to take out their full line of available credit upon origination. You can make additional withdrawals if you make payments during the draw period. It also has a maximum draw period of 5 years, compared to the 10-year window most lenders offer. Figure typically requires borrowers to have: Unlike many lenders, who may offer a variety of mortgages and other banking services, Figure specializes almost exclusively on HELOCs. For that reason, it has a streamlined application and approval process: Borrowers can reportedly be approved in five minutes and receive funds in as few as five days. Customer service is available at 888-819-6388, Monday through Friday from 6:00 a.m. to 9:00 p.m. PT, and weekends from 6:00 a.m. to 5:00 p.m. PT. Figure earned an A+ from the Better Business Bureau, the organization's highest grade, based on transparency, truthful advertising and how it responds to consumer complaints. Here's how Figure compares to two major HELOC lenders. While TD Bank only offers HELOCs in 15 states and Washington, D.C., Figure makes them available everywhere but Hawaii. It also offers virtual closings, a feature TD Bank lacks. Apply online for personalized rates Conventional, VA, FHA, jumbo, construction-to-permanent, physician loans, TD Right Step, TD Home Access, refinancing, home equity loans Up to 30 years Not disclosed Options as low as 3% Terms apply. But TD Bank has more than 1,000 branches and will approve HELOCs up to $6 million. An online-only operation, Figure caps HELOC draws at $400,000. Figure also has a shorter draw period and requires homeowners to take out the full amount on their first withdrawal. TD Bank makes funds available for the typical 10-year window and allows users to take only what they need. Flagstar also has broader draw terms, with HELOCs ranging from $10,000 to $1 million. Fixed-rate and adjustable-rate available, apply online for rates. Conventional, FHA, VA, USDA, jumbo, renovation, Destination Home Mortgage, HomeReady, Home Possible, refinancing, ReFi Now, Refi Possible, HELOC, home equity loan 15-year and 30-year fixed-rate loans; 5-year, 7-year, 10-year intro period for adjustable-rate loans 620 for conventional, 580 for FHA, 600 for Destination Home Mortgage, 700 for jumbo loan 3% for conventional loans, 3.5% for FHA loans, 0% for VA, USDA and Destination Home Mortgage A full-service bank, Flagstar offers a 0.25% discount if you set up automatic payments from a Flagstar checking or savings account. Where Figure comes out ahead is in the approvals process: Flagstar requires a FICO score of 700 for a HELOC, while you only need a 640 to be approved by Figure. Figure doesn't have brick-and-mortar locations, so borrowers must visit the website and complete an online application to get preapproved. The process will not impact your credit, but you'll need proof of identification, bank statements, tax returns and W2s from the past two years, as well as the deed to your home and proof of homeowners insurance. Borrowers can get approved within five minutes and have their line of credit funded within five days, according to Figure, with a completely online closing process available where allowed. A HELOC from Figure is a good option if you need money quickly and appreciate the convenience of an online application and approval process. It's also worth considering if you have a less-than-stellar credit history, as its credit requirements are more flexible than many if you're looking for a longer draw period or larger loan limit, you may need to look elsewhere. Founded by husband-and-wife team Mike Cagney and June Ou in 2018, Figure is a legitimate fin-tech lender that has approved more than $14 billion in home equity for over 200,000 families. In addition, it's the No. 1 non-bank lender for HELOCs and earned an A+ rating from the Better Business Bureau. According to Figure, borrowers can be approved within five minutes and get funding in as little as five days. No, Figure only offers home equity lines of credit, not home equity loans or other mortgage products. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mortgage review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and Select reviews mortgage products using a variety of criteria, including the types of loans offered, average rates, terms, availability, fees, down payment options, online experience and customer satisfaction. In addition, we incorporate findings from independent sources, including lender scores from the J.D. Power U.S. Mortgage Origination Satisfaction Study and ratings from the Better Business Bureau. For home equity lines of credit, we consider credit score requirements and maximum loan-to-value ratio accepted, as well as draw amount options, draw and repayment periods and if the lender requires an annual fee.
