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Why lenders should be asking for a title check at loan application

Housing Wire

As a follow-up, HousingWire sat down with Peter Richter, co-founder and president at Flueid, to discuss why mortgage lenders should be asking for a quick, data-driven title check at loan application, rather than an instant title commitment, to understand and verify what’s going on with a property and consumer from the start.

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Opinion: Title insurance is vital to protecting the American dream

Housing Wire

In a refinancing, homeowners obtain a new loan and lenders require a new title search and a title insurance policy on that loan to protect their investment. Professionals conduct the search and examine documents, with title companies regularly providing a discount, or “reissue rate” on a refinance.

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Demystifying Property Title Search: Your Questions, Answered

HomeLight

Some of the elements of closing on a home can be difficult to grasp, like the property title search. Property title problems account for about 9% of closing delays , according to the National Association of Realtors. A property title search is an easy way to avoid delays in your closing. What is the property title?

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How to Understand Real Estate Underwriting

Realty Biz

It determines whether your home loan application gets approved. It's a process the lender uses before approving your mortgage loan application. It helps the lender determine how risky the loan would be. You may have the option of submitting your home loan application in person or over the phone.

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Preparing to Get Pre-Approved For a Mortgage

Realty Biz

This thorough assessment determines how much you can borrow, which loans you may be approved for, and the potential interest rate. It is one of the most significant steps in preparing to get a home loan. Compare interest rates and loan terms offered by various lenders. Otherwise, you may need to apply for a bad credit home loan.

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How to Avoid a Delayed Closing: 7 Common Roadblocks to Be Aware of

Redfin

It’s recommended to get pre-approved before house hunting to give yourself a realistic idea of how much home you can afford ; however, a mortgage pre-approval doesn’t guarantee that your loan application will be approved. Most title companies and attorneys don’t accept personal checks over $500, sometimes less.

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. Dodge move.

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