Discover Home Equity Loans Hits $1B Milestone – NMP Skip to main content

Discover Home Equity Loans Hits $1B Milestone

Sep 23, 2019
Discover Home Equity Loans has announced that it exceeded $1 billion in total loan balance and doubling origination volume each of the last two years

Discover Home Equity Loans has announced that it exceeded $1 billion in total loan balance and doubling origination volume each of the last two years.
 
According to the Riverwoods, Ill.-based company, 80 percent of its applications this year have been submitted online, compared to the industry average of 15 percent in 2018. Discover Home Equity Loans launched in 2013 and offers loan amounts from $35,000 to $200,000. It is currently the nation’s second largest originator of closed-end second mortgages.
 
“Reaching the $1 billion milestone highlights the tremendous growth we’ve experienced in just the past two years,” said P.K. Parekh, senior vice president of Discover Home Equity Loans. “We have kept the customer front-of-mind in creating a process that combines exceptional service from our agents with intuitive online capabilities, setting us up for even more explosive growth in the future.”

 
About the author
Published
Sep 23, 2019
Rocket Pro Launches ‘Moving Squad’ To Recruit Brokers From UWM

Rocket is offering partners up to $10,000 to help bring UWM brokers onto its platform

Sep 01, 2026
NEXA, UMortgage Leaders Explain What Drove Acquisition

Kortas relinquishes the CEO title, elevating Casa to co-equal "executive partner"

Aug 31, 2026
Warsh Sees Housing Strain, Keeps Rate Hikes In Play

Fed chair says broader financial conditions remain loose, inflation is too high, and markets should expect less guidance on what comes next

Aug 31, 2026
July CPI Eases Mortgage-Rate Risk, But Doesn’t Promise Relief

Consumer inflation rose just 0.1% in July, reducing pressure for a September Fed rate hike as mortgage rates remain near their highest levels of the year

Aug 13, 2026
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Jul 15, 2026