Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Industrial 412

Industrial MLS FHA loan Agents 412

Housing Wire

APRIL 10, 2024

According to the publication, the CFPB will release a request for information on closing costs, including title insurance and other fees, as soon as late April. Sources told Bloomberg that any final proposal on changes to closing costs, including title insurance, would not come until 2025.

Title 426

Title Closing costs Equity Mortgages 426

Housing Wire

NOVEMBER 30, 2022

Each year, the TECH100 awards recognize the 200 most influential tech companies in mortgage and real estate that are working to improve the housing industry through tech innovation. The promises of technology have largely been lost in the mortgage industry and little has been done to reduce costs for homebuyers.”.

Industrial 317

Industrial Title Lending Technology 317

Housing Wire

MARCH 7, 2024

However, that’s a controversial topic for the mortgage industry and it’s already facing resistance from trade groups. Regulators believe reducing title requirements would cut closing costs, but title and mortgage companies challenge the argument and point to elevated risks.

Title 443

Title Closing costs Land Mortgages 443

Housing Wire

MAY 1, 2024

First-generation homebuyers as a cohort are “less likely to receive financial assistance from parents to help with the down payment and other upfront costs when purchasing a home,” according to Freddie Mac. Identification of a loan under these conditions is currently optional, the bulletin explained.

Mortgages 384

Mortgages Finance Closing costs Loans 384

Housing Wire

MARCH 8, 2024

The Consumer Financial Protection Bureau (CFPB) will be closely scrutinizing what it described as “junk fees” imposed on borrowers when closing a mortgage. Its new priority has provoked strong criticism from the mortgage industry. These costs increased by 21.8% from 2021 to 2022, reaching nearly $6,000, per the CFPB post.

Closing 427

Closing Mortgages Closing costs Title 427

Housing Wire

AUGUST 14, 2023

The pilot program was said to have been a component of the government sponsored entities’ (GSEs) Equitable Housing Finance Plans , which are required by their regulator Federal Housing Finance Agency (FHFA). The initial version of the GSE’s Equitable Housing Finance Plans were approved in the summer of 2022 by the FHFA.

Title 345

Title Closing costs Finance Land 345

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. Potter added: “Government lending would come to a halt. points from the 7.5%

VA loan 437

VA loan Agents Seller concession FHA loan 437

Housing Wire

MARCH 9, 2023

The title insurance industry is often bemoaned for being antiquated and making minimal changes, but that has not been the case for the past 12 months. We know that closing costs continue to be a barrier for homebuyers – especially among underserved populations and first-time homebuyers,” a Fannie Mae spokesperson wrote in an email. “We

Title 393

Title Closing costs Finance Land 393

Housing Wire

DECEMBER 14, 2023

The government sponsored entities is part of its Equitable Housing Finance Plans , which are required by their regulator Federal Housing Finance Agency (FHFA). The initial version of the GSE’s Equitable Housing Finance Plans were approved in the summer of 2022 by the FHFA.

Title 331

Title Land Finance Loans 331

Housing Wire

MARCH 28, 2023

Those looking to buy a home can earn 5% back by using the Rocket Visa Signature Card for up to $8,000 that can be used toward closing costs and down payments. In turn, homebuyers can use points to get discounts on their closing costs in the future.

Closing costs 395

Closing costs Finance Principal Mortgages 395

HomeLight

JULY 5, 2023

It’s no secret that the mortgage industry isn’t super transparent about closing costs. According to a February 2017 report from ClosingCorp, more than half of homebuyers surveyed were surprised by their closing costs. Third-party fees: The second group of closing costs is third-party fees.

Closing costs 86

Closing costs Closing Mortgages Loans 86

HomeLight

APRIL 13, 2023

Once you’ve found your dream house in Florida and settled on the purchase price, you might think you know the final cost you’re responsible for. However, there’s another set of fees and charges you must be prepared for, and those are closing costs. Find a Buyer's Agent What are closing costs? of the sales price.

Closing costs 73

Closing costs Closing Title Inspection 73

Housing Wire

MAY 5, 2023

announced on Thursday that the Optimal Blue product, pricing and eligibility engine (PPE) has added investor content from 54 state-based housing finance agencies (HFAs). HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments.

Investor 311

Investor Finance MLS Closing costs 311

Housing Wire

AUGUST 10, 2023

Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Mortgage , and/or Closing Cost Credit.

Fixed-rate mortgage 369

Fixed-rate mortgage Closing costs Lending Banks 369

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. There’s no higher honor than serving in the United States Military , which I deeply understand as a former Army sergeant. Who is eligible?

VA loan 426

VA loan Loans Mortgages Lending 426

RIS Media

MAY 19, 2021

Most buyers just want to know what fees and costs are associated with their new home purchase or refinance. It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home. For more information on closing costs, loans and refinancing, visit REeBroker Group Loans.

Closing costs 109

Closing costs Closing VA loan Pre-approval 109

Housing Wire

DECEMBER 4, 2023

There are multiple lawsuits challenging the prevailing structure of real estate agent commissions, and, as a result, there is no shortage of industry conversation on the topic. While the minimum down payment for FTHB on conventional financing stands at 3%, bearing agent commissions would effectively double this threshold in many instances.

Mortgages 399

Mortgages Closing costs Agents Finance 399

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. With interest rates now at 14-year highs, the cost of homeownership is becoming an issue for most prospective home buyers.

Loans 368

Loans Mortgages Land Finance 368

Housing Wire

SEPTEMBER 10, 2022

The SPCP, called “closing the gap,” permits a 1% down payment with a free appraisal, free home warranty program, free homebuying counseling and financial assistance with closing costs. and has worked in the mortgage industry for over 50 years.

Loans 414

Loans Closing costs Development Finance 414

Housing Wire

MAY 25, 2023

Longbridge Financial, LLC, (NMLS #957935) believes that the answer to this dilemma is the HECM/Reverse for Purchase financing option. If the industry were better educated on this option, there would be a significant increase in HECM/Reverse Purchase volume. There is an incredible opportunity for growth,” he said.

Loan Officer 374

Loan Officer Equity Finance Loans 374

Real Trends

MARCH 8, 2023

Use this guide to get your transactions back to the closing table and don’t give up. What do you do when your buyer’s financing is denied? We have closed thousands of transactions over the lifespan of our real estate careers, and we have coached thousands of clients to meet or exceed their goals.

Debt-to-income ratio 94

Debt-to-income ratio Finance Backup offer Agents 94

Housing Wire

MARCH 1, 2024

While mortgage rates will likely fall this year, conversations about how to increase accessibility to homeownership are still top of mind — and should be top of mind — across the real estate industry. Accounting for geography, differences in title and settlement costs across groups of borrowers were not “economically meaningful.”

Title 341

Title Title search Industrial Closing costs 341

Housing Wire

OCTOBER 13, 2022

Now, thanks to United Wholesale Mortgage (UWM) CEO Mat Ishbia’s recent announcement that his company is hiring attorneys to review title and closing documents, AOLs and the risks associated with them, have been a hot topic at this year’s ALTA One conference. In some ways it could cost them more. This is a top priority for ALTA.”.

Title 291

Title Closing costs Title search Closing 291

Housing Wire

MARCH 21, 2024

per FICO score, and that constitutes less than two-tenths of 1% of the average closing costs of $6,000 per mortgage and is 15% or less of the average cost of a $70 tri-merge credit report.” “In total, FICO’s actions over the last two years have increased the cost of its credit scores by 500%. .”

Mortgages 400

Mortgages Purchase and sale agreement Closing costs Investor 400

Lab Coat Agents

MAY 21, 2024

In today’s rapidly evolving real estate market, assumable mortgages have emerged as a game-changer for homebuyers seeking to save money and secure favorable financing terms. However, recent changes in the real estate industry have streamlined the assumption process, making it faster and more efficient than ever before.

VA loan 98

VA loan Mortgages Loans FHA loan 98

Housing Wire

APRIL 18, 2023

Mortgage firms have also focused on becoming more efficient and reducing other types of overhead, including fixed costs, like office space, and travel budgets or similar items. While a mortgage business’ battle against margin compression is seemingly endless, that fight is less noticeable in times of surging revenue.

Mortgages 345

Mortgages Technology Closing costs Title 345

Housing Wire

NOVEMBER 21, 2022

The housing industry is at an unprecedented moment in time. Comprehensive property data enables unique insights that help lenders to be more efficient in serving their customers and helps tackle the thorniest contemporary public policy challenges plaguing our industry. trillion in mortgage origination volume in 2022.

Finance 338

Finance Design Equity Construction 338

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. The third iteration was pioneered by Calque and is the most cost-effective model of the three.

Backup offer 353

Backup offer Loan Officer Home sale contingency Branding 353

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. If the traditional practice of sellers paying for both sides of the agents ends, housing agencies will have to weigh in to determine ways for buyers to finance their agents’ comp, LOs noted.

Agents 373

Agents Loan Officer Lending MLS 373

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. What is a Turnkey Rental Property?

Finance 90

Finance FHA loan Investor Loans 90

Housing Wire

APRIL 11, 2022

In addition, letters must be addressed to the lender and all successors-in-interest, be commonly accepted in the property’s jurisdiction, provide gap coverage for the duration between closing and recordation, and include certain other information. Fannie Mae did not return a request for comment.

Title 404

Title Closing costs Loans Closing 404

Housing Wire

NOVEMBER 9, 2023

Fannie Mae and Freddie Mac jointly announced this week that they have entered a new critical edit phase for their Uniform Closing Dataset (UCD) as of Nov. An implementation guide released in May 2022 shows that phase three deals with information related to loan costs; other costs; total closing costs; and lender credits.

Loans 349

Loans Closing costs Mortgages Closing 349

Housing Wire

MAY 9, 2022

The layoffs affect mainly mortgage consultants, specialists, and assistants, but it targets underwriting and closing professionals. It specializes in low-rate mortgage refinances, in which it originates a loan with no closing costs, including appraisal, credit report, escrow and title. according to Inside Mortgage Finance (IMF).

Lending 366

Lending Closing costs Mortgages Title 366

Housing Wire

DECEMBER 1, 2023

For 2023, FICO said it would collect approximately $2 to $8 for all three score tiers out of a $40 to $50 (or more) tri-merge report and score bundle and out of an average $3,800 in closing costs. As an industry, we owe it to future homeowners to bring attention to the misuse of power,” McKay said.

Mortgages 448

Mortgages Pre-approval Closing costs Lending 448

Housing Wire

JUNE 13, 2022

From Multiple Listing Services (MLS) to consumer-facing giants like Zillow , Realtor.com and Redfin , the real estate industry is raising awareness about homebuyer assistance programs through agent education and self-service tools that help consumers find programs they qualify for. Buying a home is stressful in any market.

Finance 341

Finance Loans Closing Closing costs 341

Housing Wire

OCTOBER 10, 2023

After six years of no enforcement actions and a rapidly declining housing market, RESPA attorneys believe some in the industry may be more willing to test the boundaries. “I More than a dozen industry pros and attorneys told HousingWire that RESPA rules are unclear, leaving violations to flourish in a shrinking market.

Loan Officer 402

Loan Officer Loans Brokerage Mortgages 402