Housing Wire

NOVEMBER 30, 2023

The 203(k) Rehabilitation Mortgage Insurance Program helps borrowers purchase a home or refinance an existing mortgage and includes the cost of repairs or rehabilitation into one new mortgage. Changes also include increases to the maximum amount for other allowable fees, including for draw inspection, which is $375.

Inspection 420

Inspection Finance Renovation Loans 420

Housing Wire

SEPTEMBER 19, 2023

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? Appraisals are required for homes financed with any type of mortgage. Getting approved for a mortgage depends largely on the outcome of an appraisal. Mortgage lenders want to make sure the property is worth the sale price.

Agents 440

Agents Inspection Sales Commercial 440

Keller Williams

AUGUST 17, 2022

Loralynne Ball, head of retail sales for Keller Mortgage, has an even sunnier assessment. Though mortgage rates are rising from the incredible lows we experienced last year, they’re still not at all what we’d consider high. Now is still a great time to get home financing.”. Connect with a Keller Mortgage Loan Officer.

Finance 90

Finance Pre-approval Loan Officer Mortgages 90

Housing Wire

SEPTEMBER 9, 2021

From hybrid appraisals to virtual showings to RON/RIN, the digital mortgage process took center stage over the last year. From ordering food to buying goods to managing their finances, consumers can do it all from the palm of their hand, without ever having to leave their house. Why should the mortgage process be any different?

Mortgages 391

Mortgages Technology Inspection Closing 391

CT Homes

JANUARY 1, 2023

If your buyer’s financing fell through at the last moment, it’s likely due to an obstable encountered along the way, but by anticipating those fallbacks, you can hopefully identify a solution. In this post, we’ll cover the main contingencies lender-financed offers typically have and the main drawbacks of such offers. 5 Common Reasons.

Finance 52

Finance Inspection Title search Loans 52

Realty Biz

MARCH 28, 2023

VA appraisals and VA inspections are often confused, but they are different. A VA appraisal is similar in some ways to the appraisal with a conventional mortgage, but they do more to protect buyers. There are VA loan inspection requirements for appraisals that buyers, sellers, and real estate agents should know.

VA loan 94

VA loan Inspection Loans Land 94

Housing Wire

NOVEMBER 2, 2020

First, Federal Reserve actions loading taxpayers with debt that now exceeds total GDP, which drove mortgage rates to historic lows. In short, they are getting the best credit quality borrowers in the mortgage market with confirmed fresh credit data. Second, agency MBS is one of two Triple-A rated instruments in housing on this earth.

Mortgages 534

Mortgages Marketing Loans Inspection 534

Housing Wire

JANUARY 19, 2022

The mortgage industry has been awaiting the official start date for desktop appraisals since Federal Housing Finance Agency Acting Director Sandra Thompson announced plans to allow them at an industry conference in October. Mortgage lenders have also tried to find ways to speed the appraisal process.

Inspection 414

Inspection Principal Loans Renovation 414

Housing Wire

DECEMBER 21, 2020

The moratorium directs mortgage servicers to halt all new foreclosure actions and suspend all foreclosure actions currently in progress, excluding legally vacant or abandoned properties. Low mortgage rates fuel the demand for valuation and settlement services. Presented by: VRM Mortgage Services. 28, 2022.

Finance 545

Finance Mortgages Inspection Staging 545

Housing Wire

MARCH 22, 2021

And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%. Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021.

Inspection contingency 545

Inspection contingency Inspection Sales Mortgages 545

Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Mortgage origination platform Maxwell , which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. The past year hasn’t been particularly good for tech or housing. The company was No.

Equity 360

Equity Technology Investor Lending 360

CT Homes

JULY 6, 2020

In this post, we’ll cover the main contingencies lender-financed offers typically have, and what the main drawbacks of such offers are. The most common contingency issue when dealing with “financed” buyers is getting final mortgage approval with the buyer’s lender. Financing Obstacles.

Finance 110

Finance Inspection Title search Loans 110

Housing Wire

JUNE 7, 2022

Few other industries must deal with the level of complexity of home finance. From mortgage origination to servicing, companies are constantly grappling with high volume and stringent regulatory oversight while managing a large cohort of vendor partners. We’re seeing mortgage executives and workers retiring at record rates.

Lending 284

Lending Mortgages HR Title 284

Housing Wire

DECEMBER 20, 2022

Department of Veterans Affairs (VA) mortgage loans. Mike Bost of Illinois and sponsored in the Senate by Alaska Republican Dan Sullivan, should make veterans more competitive homebuyers, the Mortgage Bankers Association (MBA) said. Senate this week passed a bill that streamlines the appraisal process for U.S.

HR 370

HR Inspection Loans Finance 370

Realtor.com

JANUARY 9, 2023

Nonetheless, getting a good mortgage proved to be much harder than he’d anticipated. “We struggled to get a good mortgage,” Shirshikov admits. “We could not get a mortgage with a decent rate.” “We spoke to the owner about owner financing,” Shirshikov says. Dennis Shirshikov.

Finance 69

Finance Loans Mortgages Banks 69

Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. Currently, the appraisal process is the biggest issue facing the mortgage industry,” the mid-sized lender said. “It

Lending 476

Lending Loans Inspection Mortgages 476

Housing Wire

APRIL 4, 2024

While they have endured a rocky, rates-driven cycle, marketers in mortgage and real estate continue to play a pivotal role in lead generation, customer acquisition and retention differentiation that has helped to keep many organizations stay afloat. HousingWire: Milestones was recognized as a 2024 Tech100 Mortgage honoree.

Marketing 237

Marketing Industrial Mortgages Inspection 237

Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021.

Lending 477

Lending Inspection Loans Finance 477

Realtor.com

FEBRUARY 5, 2021

But before the sale is closed, you will need to clear several hurdles, one of which may be a termite inspection. While only a few states require it—and there is no federal law that mandates a termite inspection when buying a home—you might want to think twice before skipping it. Your lender may require it.

Inspection 122

Inspection Loans Development Lending 122

HomeLight

JANUARY 14, 2022

As you run down the list of steps from appraisals to final walkthroughs, you may find yourself focusing on one item in particular: the home inspection. About 95% of purchased homes go through an inspection, and it’s a requirement for many mortgage loans — so it’s certainly an important part of the process. Attic spaces.

Inspection 106

Inspection Inspection contingency Renovation Agents 106

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). Presented by: Auction.com.

FHA loan 309

FHA loan Renovation Equity Loans 309

Housing Wire

JUNE 10, 2022

Nonbank mortgage lender and servicer Ocwen Financial Corp. and its subsidiary PHH Mortgage agreed to pay more than $665,000 to settle multiple lawsuits filed last year by three cities in New York state regarding the maintenance of zombie properties. billion, according to Inside Mortgage Finance. In 2019, then-Gov.

Mortgages 373

Mortgages Inspection Residential Banks 373

Housing Wire

FEBRUARY 14, 2022

The Federal Housing Finance Agency (FHFA), in its new strategic plan, indicated it is heading in a different direction than under the Trump administration. Under FHFA Acting Director Sandra Thompson, affordability, and expanding credit to those who are not well-served by the current mortgage market, is now a top strategic goal.

Finance 366

Finance Mortgages Inspection Lending 366

HomeLight

JANUARY 31, 2024

Contingencies are designed to protect both parties involved, allowing the buyer to back out of the purchase without penalty under specific circumstances, such as issues discovered during a home inspection or difficulties obtaining financing. The most extended periods typically relate to mortgage and home sale contingencies.

Purchase and sale agreement 105

Purchase and sale agreement Inspection contingency Home sale contingency Inspection 105

Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

Inspection 403

Inspection Technology Loans Mortgages 403

Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on Jan. 28, 2021. .”

Lending 539

Lending Loans Inspection Finance 539

Marco Santarelli

MAY 24, 2024

If so, you're probably keenly interested in mortgage rates. Mortgage Rates Predicted High in 2024 Fannie Mae Weighs In: Rates to Stay High in 2024 Fannie Mae, a major player in the mortgage industry, recently released a forecast predicting a slowdown in housing activity due to interest rates that are stubbornly sticking at high levels.

Mortgages 52

Mortgages Pre-approval Fixed-rate mortgage Principal 52

Housing Wire

JANUARY 27, 2023

Rent hike protections Nearly one-third of all rental units nationwide are financed with federally backed mortgages — and the blueprint may help curb some of the steep rent price increases for these properties. Fannie Mae provided more than $69 billion in debt financing to support the multifamily market last year.

Finance 387

Finance Development Inspection Mortgages 387

Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

Equity 311

Equity Inspection Lending Finance 311

Housing Wire

AUGUST 3, 2023

Aerial drone inspection of Lennar’s Westview housing development Miami, Florida. In a recent earnings call, Sheryl Palmer, chairman and CEO of national homebuilder Taylor Morrison , said about two-thirds of homeowners now have mortgage interest rates below 4%. Taken by Felix Mizioznikov. We need to build above 1.1

Land 368

Land Construction Development Finance 368

Housing Wire

APRIL 25, 2024

Agents say they are also seeing a lot of appraisal gap clauses , inspection waivers and free leasebacks popping up in offers as buyers look to improve their chance of winning a house in the current market. In addition to keeping prospective home sellers in their houses longer, higher mortgage rates are also taking a toll on buyers.

Marketing 392

Marketing Investor Agents Inspection 392

Housing Wire

MARCH 1, 2023

Change in uninsured losses As of late, however, the uninsured losses are being absorbed by other stakeholders in the housing finance system, including mortgage lenders, mortgage servicers, private mortgage insurers, government agencies, capital markets investors, and the government-sponsored enterprises.

Industrial 354

Industrial Banks Loans Design 354

Housing Wire

JUNE 21, 2022

Selling a home typically involves nearly 10% in transaction fees between real estate agents , title companies, inspections, and other expenses. Instead, we prefer a “certified” pre-owned car that has gone through a multi-point inspection with all of the preventative maintenance up to date. There’s an even more subtle consideration.

Investor 396

Investor FHA loan Inspection Renovation 396

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 394

Agents Seller concession Closing costs Mortgages 394

Realty Biz

JANUARY 19, 2024

Interviewing and selecting a buyer's agent and choosing a mortgage lender and real estate attorney are vital steps. Let's start with some detailed information and actionable tips on financing. It's crucial to clearly understand your financial health before getting a mortgage. Let's get started on your path to homeownership.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

HomeLight

JULY 5, 2023

It’s no secret that the mortgage industry isn’t super transparent about closing costs. In recent years, regulations have tightened, forcing mortgage lenders to disclose these costs in loan estimates. There are two main types of closing costs: Lender and broker fees: Lender and broker fees are charged by most mortgage lenders.

Closing costs 97

Closing costs Closing Mortgages Loans 97

Housing Wire

MARCH 22, 2024

Before meeting with a mortgage lender, buyers should have a clear picture of their finances. There’s nothing more frustrating for agents or buyers than dealing with a 1-800 number when there’s a financing issue and the commitment date is looming. Do not skip the inspection. Meet with a financial advisor.

Agents 396

Agents Pre-approval Pre-qualification Inspection 396