Housing Wire

DECEMBER 16, 2022

For most real estate industry professionals, title insurance needs no introduction. A trusted product , title insurance has been used to protect real estate transactions and property rights for over a century. Title insurance is different than most other insurance products. Title insurance is a comprehensively regulated product.

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Title Title search Closing costs Land 473

Housing Wire

AUGUST 1, 2024

The Community Home Lenders of America (CHLA) on Thursday issued a comment letter to the Consumer Financial Protection Bureau (CFPB), saying that a major reason for the increase in mortgage closing costs from third parties is due to a lack of competition among third-party providers. Department of Agriculture (USDA).

Closing costs 427

Closing costs Closing Title Loans 427

Housing Wire

JUNE 28, 2024

Title insurance provides vital protection to the largest and most important purchase most Americans will ever make—their home. ” The agency alleges that so-called hidden “junk fees” in closing costs are at the root of housing affordability challenges. Brad Sherman (D-CA).

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Title Closing costs Closing Industrial 384

Housing Wire

DECEMBER 14, 2023

In 2023, Fannie Mae and Freddie Mac announced plans to make it easier to buy a home and close the racial homeownership gap in the United States. Specifically, title and settlement fees have been characterized as a high-burden and regressive (costing proportionally more for low- and moderate-income borrowers) cost to borrowers.

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Title Closing costs Title search Loans 431

Housing Wire

MAY 9, 2022

Closing costs for homeowners who jumped on the refi wave in 2021 increased at less than one-third the pace of closing costs for home purchases as homebuyers had to cope with a hot market that fueled higher home-sale prices and related settlement costs. How to avoid home closing delays in 2022.

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Closing costs Loans Closing Title 370

Housing Wire

APRIL 18, 2025

The cost of upgrades One of the biggest mistakes buyers make is underestimating the cost of upgrades. It may be tempting, but its more cost-effective to invest in structural improvements that cannot be easily changed later, such as framing modifications or window placements. Red flags Choosing a reputable builder is crucial.

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Purchase and sale agreement New Construction Construction Closing costs 311

Housing Wire

FEBRUARY 23, 2023

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders. As an industry, our commitment to protection goes beyond title insurance policies. The bill is being considered in several states nationwide.

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Title Industrial Purchase and sale agreement Title search 450

HomeLight

OCTOBER 29, 2024

If you’re about to close on your Alabama home sale, you’re likely wondering how much you’ll owe in closing costs. Nationally, sellers typically pay between 6% to 10% of the property’s sale price in closing costs. Receive your offer in 24 hours and close in as few as 10 days. in state transfer tax.

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Closing costs Closing Title search Title 105

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. The program would grant certain mortgage lenders a waiver on title insurance requirements for loans sold to Fannie Mae and will be rolled out this spring, according to Politico. “We

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Title Closing costs Finance Land 397

Housing Wire

APRIL 11, 2022

In a selling guide announcement released last week, Fannie Mae announced that it would be accepting written opinion letters from an attorney in lieu of a title insurance policy “in limited circumstances.”. If a lender receives an AOL in lieu of a title insurance policy, the lender must report Special Feature Code 155 when delivering the loan.

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Title Closing costs Loans Closing 410

HomeLight

OCTOBER 28, 2024

One of the most important things that you should keep in mind is that there are several costs you’ll need to pay to finalize your sale. Nationwide, closing costs for sellers can range from 6% and 10% of a property’s sale price. Receive your offer in 24 hours and close in as few as 10 days.

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Closing costs Closing Title Sales 105

Housing Wire

OCTOBER 13, 2022

Unlike the title industry’s cybersecurity and wire fraud challenges, which are strictly 21 st century issues, the recent interest and use of attorney opinion letters (AOLs) harkens back to an earlier era of homebuying. One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers.

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Title Closing costs Title search Closing 384

Housing Wire

MARCH 8, 2024

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings.

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Title Industrial Land Closing costs 429

Housing Wire

SEPTEMBER 6, 2024

For more than two years, a storm has been brewing in the title insurance industry. Last week, the first raindrops began to fall when the Office of the Attorney General for the District of Columbia (OAG) announced settlements with four title firms over alleged kickback schemes. Because these title firms were all licensed by the D.C.

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Title Industrial Agents Closing costs 431

Housing Wire

AUGUST 14, 2023

The American Land Title Association (ALTA) is celebrating a huge win in its ongoing war against title insurance alternatives. One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers.

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Title Closing costs Finance Land 370

Housing Wire

APRIL 7, 2025

In our community, many first-time buyers were using those to buy down interest rates or cover closing costs. Sworn in on March 26 during NAHREPs annual Homeownership and Housing Policy conference in Washington, D.C. Sworn in on March 26 during NAHREPs annual Homeownership and Housing Policy conference in Washington, D.C.

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Commercial Title Closing costs Equity 370

Housing Wire

AUGUST 9, 2022

Rachel Luna, principal of Patriot Title Company. With over 13,000 followers on Instagram , Rachel Luna, the principal of Texas-based Patriot Title Company , is the self-proclaimed “Texas Title Queen.” Luna has worked her way through the ranks and is now among the most recognizable pros in the title industry. “I

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Title Principal Closing Industrial 384

Keeping Current Matters

MAY 17, 2021

Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? According to Trulia : “ When you close on a home, a number of fees are due. Bottom Line.

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Closing costs Closing Title Land 294

Housing Wire

OCTOBER 9, 2023

AI-generated image of two lawyers scrutinizing title insurance joint venture agreements. In 1983 Jim Campbell launched what is believed to be the first joint venture experiment between a real estate brokerage and a title and settlement firm. In fact, it’s all his Pennsylvania-based company Title Alliance does.

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Title Brokerage Investor Closing 441

Housing Wire

APRIL 13, 2022

Title insurance protects borrowers from financial loss if the lender discovers a defect in the title to the property (for example, a previous mortgage) and demands a borrower to pay back the loan. Additionally, title companies are not allowed to accept any commissions or referral fees from lenders when issuing title policy coverage.

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Title Lending Closing Closing costs 382

HomeLight

OCTOBER 31, 2024

In this post, we explore the question: Are closing costs tax deductible? What are examples of seller closing costs? When selling a home, you’ll encounter various closing costs as part of the process. On average, sellers pay between 2% and 5% of a home’s sale price in closing costs.

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Closing costs Closing Title search Title 111

Housing Wire

MARCH 27, 2025

FinLocker details that the initiative will eliminate verification costs at all stages of the mortgage journey, from prequalification and underwriting to final reverification before closing. ” FinLocker indicated that future initiatives will target other high-cost areas like title expenses. ” .”

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Mortgages Loan Officer Technology Loans 316

Housing Wire

AUGUST 13, 2024

The American Land Title Association is making it clear that it won’t have the Consumer Financial Protection Bureau making drastic changes to title insurance without first at least hearing the trade groups thoughts on the issue. 2, the trade group stressed the importance of title insurance.

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Title Mortgages Land Loans 441

Housing Wire

MARCH 2, 2021

Add the fact that lenders are not only dealing with a remote workforce these days, which is an operational challenge in itself, they are also facing a major shortage of qualified appraisers, underwriters and other operational staff in certain markets, which could cause even longer closing delays.

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Title Lending Due diligence Title search 302

Housing Wire

SEPTEMBER 9, 2024

“We really think closing costs can be a significant obstacle to refinancing,” Chopra said at an AI and technology conference jointly hosted by ICE Mortgage Technology and the National Housing Conference at the New York Stock Exchange on Monday. At least when it comes to redundancies with refinancings, that is.

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Mortgages Closing costs Title Technology 450

Housing Wire

OCTOBER 4, 2022

Closing fee-related compliance tool provider LodeStar is integrating with title insurance provider Stewart , the companies said Monday. Users can also streamline cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the Loan Estimate (LE).

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Title Loan Officer Closing costs Closing 421

Housing Wire

MARCH 1, 2024

Any proposal to increase access to homeownership and improve affordability should be evidence-based, sustainable (avoiding quick fixes) and not come at the cost of consumer protection. For example, recently, Fannie Mae has focused on expanding alternatives to title insurance as a way to supposedly increase homeownership affordability.

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Title Title search Industrial Closing costs 433

Housing Wire

DECEMBER 14, 2023

In an update to its selling guide , Fannie Mae announced Wednesday that it was expanding the use of attorney opinion letters in lieu of title insurance. Fannie Mae first announced that it would accept loans secured with an AOL in lieu of title insurance in limited circumstance in April 2022.

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Title Land Finance Loans 427

Housing Wire

MARCH 7, 2024

Biden will also call for “lower homebuying and refinancing closing costs and crack down on corporate actions that rip off renters,” according to the White House announcement. This would act as an equivalent to reducing the mortgage rate by more than 1.5% on a median-priced home for two years, and it is estimated to “help more than 3.5

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Construction Closing costs Renovation Title 534

Housing Wire

MARCH 21, 2024

In a letter submitted to FHA commissioner Julia Gordon and FHFA director Sandra Thompson on Thursday, the Community Home Lenders of America ( CHLA ) expressed concern that the cost of employment verifications charged by Equifax is “excessive” as income verification is required for both during loan underwriting and just before closing.

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Closing costs Loans Title Finance 458

Redfin

FEBRUARY 20, 2025

Closing costs arent just a buyers responsibility – sellers have their own expenses to consider as well. On average, sellers can expect to pay between 6% to 10% of the sale price in closing costs , including agent commissions, transfer taxes, and title fees. What are closing costs for sellers?

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Closing costs Closing Seller concession Title 56

Housing Wire

NOVEMBER 8, 2022

The aim of the partnership is to introduce LodeStar Discovery, a closing fee calculator, to mortgage loan originators using the LendingPad platform. LodeStar Discovery provides access to title and closing fees across the U.S.

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Closing costs Title Lending Loans 370

Redfin

FEBRUARY 18, 2025

Can you roll closing costs into your mortgage? Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing. Your lender can explain their specific policies, the rules around this practice, and which costs are eligible to be rolled into the mortgage.

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Closing costs Closing VA loan Seller concession 52

Housing Wire

JUNE 11, 2021

Have you budgeted for closing costs? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. The buyer typically covers the cost of the appraisal. Home Inspection.

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Inspection Closing Closing costs Title search 432

Housing Wire

NOVEMBER 30, 2022

Last year, Voxtur was selected as a TECH100 mortgage honoree for its work in empowering the real estate industry to become faster, more efficient and more cost-effective than ever before. The promises of technology have largely been lost in the mortgage industry and little has been done to reduce costs for homebuyers.”.

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Industrial Title Lending Technology 369

Housing Wire

AUGUST 6, 2021

So while you might eventually save money from refinancing, you’ll also spend money on closing costs. There’s also a chance your lender will require another title search and title insurance, which would add to your costs. Take the pandemic, for example. Consumers took advantage of those low rates.

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Title search Title Closing costs Loans 432

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.

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Closing costs Finance Principal Mortgages 410