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.

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Title Closing costs Finance Land 370

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.

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Title Land Finance Loans 429

Housing Wire

JULY 12, 2023

The lender said qualified buyers will receive up to $10,000 toward their downpayment/closing costs with BorrowSmart Geo-Target, or $5,000 toward their downpayment/closing costs and up to $1,000 toward home warranty and appraisal costs with the HomeReady SPCP.

Closing costs 370

Closing costs Finance Lending Development 370

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%

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VA loan Agents Seller concession FHA loan 458

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 94

Closing costs Closing Mortgages Loans 94

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

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Title Closing costs Finance Land 397

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

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.

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Investor Finance MLS Closing costs 382

RIS Media

MAY 19, 2021

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. Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs.

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Closing costs Closing VA loan Pre-approval 113

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.

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Fixed-rate mortgage Closing costs Lending Banks 370

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. REALITY: Sometimes people need to finance multiple properties at once, as in the case of active-duty military personnel who receive transfer orders.

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VA loan Loans Mortgages Lending 441

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.

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Loans Closing costs Development Finance 421

Housing Wire

FEBRUARY 8, 2022

Each year, HousingWire’s Rising Stars award spotlights 50 industry-changing young professionals in housing who have made their mark in the housing economy before their 40th birthdays. If you know a rising star who is under 40 and making an impact — and it could even be you! nominate them today !

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Closing costs Finance Development Industrial 357

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.

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Debt-to-income ratio Finance Backup offer Agents 94

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. Manufactured homes are built at indoor homebuilding facilities and then delivered to the land chosen by the owner.

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Loans Mortgages Land Finance 397

Housing Wire

OCTOBER 13, 2022

Daniel Wold, ALTA’s president, added: “We will continue speaking out against alternatives to title, which pose an even greater risk to the housing finance system.”. One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers. “One “This is a top priority for ALTA.”.

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Title Closing costs Title search Closing 385

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.

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Loan Officer Equity Finance Loans 397

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.”

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Title Title search Industrial Closing costs 434

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. Financing Turnkey Rental Properties.

Finance 96

Finance FHA loan Investor Loans 96

Housing Wire

APRIL 18, 2023

While this industry has a significant dearth of accurate and deep data — at least at the public level — the Federal Reserve’s Consumer Compliance Outlook found in 2020 that inaccurate closing cost details and cash to close calculations were one of most common lender TRID violations. These can, and do, add up.

Mortgages 370

Mortgages Technology Closing costs Title 370

Housing Wire

FEBRUARY 14, 2024

Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies. This model is still expensive for homeowners because they are paying duplicate closing costs and leaseback fees. HW: How does Calque help facilitate industry partnerships?

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Backup offer Loan Officer Home sale contingency Branding 420

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.

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Agents Loan Officer Lending MLS 397

Housing Wire

APRIL 11, 2022

Fannie Mae has identified closing costs as a barrier to homeownership,” Jim Albertelli, the CEO of Voxtur said in a statement. Fannie Mae did not return a request for comment. This is not the first time a firm has attempted to create an alternative to title insurance.

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Title Closing costs Loans Closing 410

Housing Wire

MAY 9, 2022

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). Owning’s platform processed more than $20 billion in total loan volume in 2020. Guaranteed Rate is ranked No.

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Lending Closing costs Mortgages Title 397

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. their lenders) if homebuyer assistance is right for them.

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Finance Loans Closing Closing costs 370

Housing Wire

JUNE 8, 2022

The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

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Equity Finance Loans Development 369

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. Volunteering with our local Board of Realtors, on three (3) committees; Education, Banking & Finance and Membership Engagement. a loan officer in Washington noted.

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Mortgages Loan Officer Marketing Seller concession 390

Housing Wire

OCTOBER 21, 2021

The resources help families with 80% or less of the area median income for down payments or closing costs, for example. “For all of us that have been in this industry for quite some time, we’ve been looking for ways to advance racial equity in homeownership,” Bazemore said.

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Banks Loans Equity Finance 370

Housing Wire

APRIL 9, 2024

Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan. A lawsuit filed by borrowers on the heels of the report states that UWM created a ‘ corrupt ’ scheme with loyal brokers to send loans its way, applying excess fees and costs.

Fixed-rate mortgage 439

Fixed-rate mortgage Loans Mortgages Loan Officer 439

HomeLight

AUGUST 31, 2022

To help you examine your equity’s potential to enhance your financial situation, we’ve asked industry experts to explain the options. They can expect to pay 2% to 5% of the new loan amount as closing costs, or about $4,000 to $10,000. Often, homeowners are only responsible for paying the cost of an appraisal.

Equity 103

Equity Finance Loans Closing costs 103

Housing Wire

NOVEMBER 3, 2022

At a time when “housing affordability is at a 30-year low and weakening consumer sentiment is leading to a rapidly deteriorating home purchase market,” Jay Farner, CEO of Rocket Companies, said further consolidation is expected in the industry. Farner and other executives on the call didn’t speak much to the quarterly decline.

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Principal Mortgages Closing costs Title 384

Housing Wire

OCTOBER 19, 2021

As the market shifts from a refinance-driven market to a purchase-driven market, lenders have had to adapt again due to the difference in sourcing leads and the intricacies of financing purchase transactions. The talent situation has in turn made maintaining service levels a difficult and extremely costly endeavor.

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Closing costs Technology Lending Mortgages 384

Housing Wire

MAY 17, 2023

With regard to the mortgage business, Walters said the company will be competitive in pricing and opportunistic on M&A deals since some competitors are struggling and excess capacity is exiting the industry. The other thing is that capacity in our industry grew tremendously during the pandemic. A credit card is always relevant.

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Marketing Banks Mortgages Industrial 368

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.

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Title Closing costs Land Mortgages 479

Realty Biz

FEBRUARY 19, 2024

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Next, we'll explore financing options and the specifics of land loans, a critical step in acquiring land. Financing Hurdles Financing land can be tricky.

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Land Due diligence Title search Finance 126

Housing Wire

OCTOBER 13, 2021

The average closing costs for a single-family home increased 12.3% According to ClosingCorp, the average closing costs nationally came in at $6,837 including taxes and $3,836 excluding taxes. According to ClosingCorp, the average closing costs nationally came in at $6,837 including taxes and $3,836 excluding taxes.

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Closing costs Closing Mortgages Industrial 315

Realty Biz

FEBRUARY 12, 2023

Silverton Mortgage, a leading direct residential mortgage lender, is expanding its community and affordable lending efforts by offering down payment assistance programs by the Ohio Housing Finance Agency. Hall has been in the mortgage industry for four years and also has experience providing financial assistance to home builders.

Mortgages 79

Mortgages Pre-approval Lending Finance 79