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home-equity loan

   Also found in: Financial, Wikipedia 0.06 sec.
home-eq·ui·ty loan (hmkw-t)
n.
A loan or credit line that is secured by the equity the borrower has in a home.
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Hugh Miller, President and Chief Executive Officer of Delta Financial, commented, "We are of course pleased that continued growth in our home-equity loan production, across all geographic regions and all three production channels -- broker, retail and correspondent -- has enabled Delta to complete the Company's largest securitization to date.
Delta Funding Sells $400 Million of Asset-Backed Securities by Business Wire
Meanwhile, pre-payments on UCFC's home-equity loans continued to remain relatively stable, in contrast to the fluctuating pre-payment rates in the conventional mortgage market.
United Companies reports record earnings for year-ended 1994 by Business Wire
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