Housing Wire

JANUARY 12, 2023

trillion spike in tappable home equity in the first quarter of 2022 was a stunner, especially as it topped off a 12-month period that saw a 34% collective gain among mortgage holders. Automated inspections and valuations — Technology is improving valuation methods and workflows to make appraisals faster. Black Knight’s report of a $1.2

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Realty Biz

MARCH 12, 2023

A real estate underwriter plays a critical role in the mortgage industry by evaluating loan applications and assessing real estate investment-associated risks. They work for lending institutions, such as banks and mortgage companies. Property inspections involve examining the investment’s physical condition.

Debt-to-income ratio 106

Debt-to-income ratio Mortgages FHA loan Loans 106

Housing Wire

FEBRUARY 21, 2023

It also holds great promise in attracting a new generation of bright, talented appraisers who may have otherwise not given the mortgage valuations industry a second look. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork. Origination modernization can give them the edge.

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Housing Wire

MARCH 11, 2021

Fannie Mae noted at the time that many lenders were unable to obtain an appraisal based on a full interior and exterior inspection of the subject property as the virus continued to spread. In a statement issued on Feb. In a statement issued on Feb. Those alternative appraisals may become long-term solutions.

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Lending Inspection Loans Finance 481

Housing Wire

JUNE 9, 2022

Legacy renovation loans, which tend to have longer inspection periods and strict oversight of renovations, are not paid to borrowers in a lump sum, which can add a degree of difficulty when homeowners are ready to use the funds, according to Goldman. Presented by: Auction.com.

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Realty Biz

JANUARY 29, 2022

It’s not a deal easily undone once the final papers are signed, so it makes sense to understand the ins and outs of mortgages before taking the leap into homeownership. Here are six mortgage mistakes to avoid (and what to do instead). Get pre-approved for a mortgage. Choosing the First Bank That Approves You.

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Housing Wire

OCTOBER 9, 2020

Delivery to the GSEs for banks during September 2020 was just 26%, the lowest level on record, Koss said. ” For Gary Malis, chief financial officer of Paramount Residential Mortgage Group , the complexities in modeling right now are dizzying, especially when accounting for servicing and PIWs (property inspection waivers).

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Marketing Banks Investor Technology 370

Housing Wire

DECEMBER 1, 2021

eMerge, a company that offers alternative valuation solutions, including broker price opinions (BPOs), will allow Accurate Group to increase its broker network and leverage property inspection technology, the company said. In August, the company received a strategic investment by the private equity firm Novacap to accelerate its growth plan.

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Title Technology Inspection Closing 403

Housing Wire

JANUARY 14, 2021

.” In a letter sent by Fannie, the Enterprise cited many lenders were unable to obtain an appraisal based on a full interior and exterior inspection of the subject property as the virus continued to spread. As always, the FHFA said it will continue to monitor the coronavirus situation and update policies as needed.

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Lending Loans Inspection Finance 539

CT Homes

MARCH 7, 2024

If you’re a homeowner pondering the possibility of selling your house, you might find yourself wrestling with a common question: Can you sell a home with a mortgage ? It’s a widespread belief that a mortgage chains you to your property until every last penny is paid off.

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Purchase and sale agreement Mortgages Equity Short sale 78

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

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HomeLight

AUGUST 31, 2020

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. The reality is, there are a variety of substantial pros and cons that any would-be buyer should weigh seriously before purchasing a bank-owned property.

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Housing Wire

JUNE 24, 2021

Mortgage startup Accept.inc announced Thursday it raised $90 million in debt and equity. If a homebuyer can’t close on their mortgage in time to buy the home they want, instead of losing out on the house, Accept.inc will buy the property with its own funds and reserve the home on their behalf.

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Housing Wire

APRIL 8, 2021

Get pre-approved to show you mean business: Consider obtaining a pre-approval for a mortgage from a lender by the time you reach the offer stage, as this document can play a key role in the negotiation process. While a home inspection is a valuable way to get to know your new potential home, it can also be used as a negotiation tool.

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Housing Wire

OCTOBER 26, 2020

Working with some of the nation’s largest banks and mortgage servicers, offering asset management, property disposition, title, close, valuation, and field services through an integrated, technology-driven platform. In light of the pandemic, mortgage companies have a great opportunity to leverage digital technologies in unique ways.

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Technology Inspection Title Loans 383

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.

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Closing costs Closing Mortgages Loans 92

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. If the buyer cannot obtain a mortgage within the agreed timeframe, they can opt out of the purchase.

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Housing Wire

JULY 15, 2021

HomeFree-USA gets homebuyers mentally and financially ready for mortgage approval.”. With HomeFree-USA’s Mortgage Achievement Roadmap, Davis was able to take on each step with a trusted homeownership advisor by her side. When Davis became mortgage ready, HomeFree-USA worked with Citi to get her to closing day. Mortgage at Citi.

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Housing Wire

MAY 2, 2021

QVM Insights combines virtual inspection technology with industry-leading automated valuation services for professionals in the real estate ecosystem. It also factors in the effects of foreclosures, recent sales and other data inputs from virtual inspection to room-by-room condition.

Technology 210

Technology Inspection Loans Residential 210

RIS Media

JULY 13, 2021

Before you get final approval for a mortgage, your application will have to go through an underwriting process. An underwriter will thoroughly review documentation to assess your financial situation and ability to repay a mortgage. You will be asked to provide a series of documents such as pay stubs, tax returns and bank records.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Banks Loans 98

Propmodo

OCTOBER 31, 2023

Falling property prices and liquidity fears are causing banks to slow or stop lending on commercial properties. The second quarter numbers of the Mortgage Brokers Association show commercial and multifamily loan origination dropping by an unbelievable 54 percent year over year. Plus, many owners have no other option.

Lending 113

Lending Commercial Banks Construction 113

Rent, Buy & Sell

JANUARY 20, 2023

Today’s Current Mortgage Rates The average APR fell on a 30-year fixed mortgage today, slipping to 6.40% from 6.57%. Meanwhile, the average APR on the 15-year fixed mortgage is 5.66%. This same time last week, the 15-year fixed-rate mortgage APR was at 5.89%. While mortgage rates are directly impacted by U.S.

Mortgages 59

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Rent, Buy & Sell

JULY 28, 2020

Buying a house is a stressful process, but mortgage advisers can give you great advice and help you land on your feet after securing your next real estate venture. Here are four important questions you should ask your mortgage adviser to accurately gauge your mortgage needs and ensure your application gets approved.

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Mortgages Loans Closing Inspection 142

Realty Biz

AUGUST 22, 2023

For new homeowners, signing on the dotted line means committing to a monthly mortgage payment that may be more than they have ever spent on housing. Many people are caught off guard when mortgage and homeownership expenses pop up. Your mortgage payment every month may include your homeowners insurance. That’s another expense.

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Realtor.com

NOVEMBER 27, 2022

Why refinance a mortgage? Although it will be a little faster than getting your initial mortgage, it still has many of the same time-consuming steps. Your lender will inspect all the documents you provided and request any additional documentation required. Curious whether you should refinance your mortgage?

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Mortgages Closing costs Loans Loan Officer 111

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. Connect with a Keller Mortgage Loan Officer. Now is still a great time to get home financing.”.

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Finance Pre-approval Loan Officer Mortgages 90

HomeLight

OCTOBER 25, 2023

Learn More How buyers can reduce their closing costs Buyers are typically on the hook for the following closing costs: Mortgage costs. Inspections and home appraisal fees. The tool takes factors such as your type of mortgage into account to give you as accurate a figure as possible. Title and settlement fees. Home warranty.

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Closing costs Closing Title Inspection 99

HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. As a quick refresher; a short sale is when a homeowner has fallen behind on their mortgage payments and is approaching foreclosure. What exactly is a short sale?

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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 essentially sold him on getting the interest that the bank would otherwise collect for himself.”

Finance 69

Finance Loans Mortgages Banks 69

Realty Biz

OCTOBER 21, 2023

From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Traditional mortgage loans are a common choice, particularly for individual spec homes. Benefits of Collaborating with Financial Brokers Working with mortgage brokers brings several advantages.

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Loans Finance Construction Commercial 108

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. Borrowers can lock in the amount of their monthly mortgage payments (minus taxes, insurance, and homeowners association fees) for the duration of their loans.

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Fixed-rate mortgage Mortgages Loans VA loan 102

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. Borrowers can lock in the amount of their monthly mortgage payments (minus taxes, insurance, and homeowners association fees) for the duration of their loans.

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Fixed-rate mortgage Mortgages Loans VA loan 99

HomeLight

JUNE 21, 2022

But you’ll still have to get over the home inspection hurdle that could reveal issues requiring repairs or cause buyers to renegotiate a lower sales price or even walk away from the deal. While 18% of settlements are delayed, problems encountered during inspections hold up one in ten contracts. What is a home inspection?

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Inspection Purchase and sale agreement Pre-approval Inspection contingency 120

Realty Biz

DECEMBER 15, 2022

Buyers with poor credit or a smaller down payment may struggle to find a bank that will work with them. Buyers who get preapproved for a mortgage have an advantage here, but there are still challenges. Satisfactory home inspection. A Home Inspection Is Critical. Financing Is Not guaranteed. Walk-Throughs Are Important.

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Purchase and sale agreement Inspection Title Closing costs 126

CT Homes

NOVEMBER 17, 2023

Understanding Cash Offers in Real Estate A cash offer in real estate is straightforward: it’s an offer to buy a property without the involvement of a mortgage or financing. This means the buyer has the funds available to purchase your home outright, without the need for a bank loan.

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Finance Inspection Banks Sales 75

HomeLight

JANUARY 12, 2022

Next steps include the home inspection, appraisal, and final paperwork. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Source: Ice Mortgage Technologies , Data for Sept. Complete home inspection: 5-15 days. Conventional loan.

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Closing Purchase and sale agreement Pre-approval Inspection 111

HomeLight

AUGUST 31, 2020

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? The path to foreclosure begins with a homeowner struggling to make their mortgage payments. Source: Jamie Street / Unsplash).

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Short sale Sales Banks Inspection 90