Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. Certner cited fair lending concerns and the potential of undue borrower influence. They’re using it to help shape the process going forward.

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Mortgages Closing costs Equity Construction 419

RIS Media

AUGUST 21, 2023

And, for agents, every opportunity to help clients save money is an opportunity to gain their trust and appreciation—two ingredients for… The post Uncovering Hidden Savings: Helping Create Lifelong Clients by Reducing Title and Closing Costs appeared first on RISMedia.

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Closing costs Title Closing Mortgages 98

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 116

Housing Wire

AUGUST 14, 2023

One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers. Based on those plans, both GSEs are pushing pilot programs promoting the use of attorney opinion letters, reportedly as an alternative to reduce closing costs.”

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HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. To top it off, buyers sometimes ask sellers to pitch in for their closing costs, too — another 2% to 3% of the sales price. Typical seller closing costs.

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Closing costs Closing Seller concession Purchase and sale agreement 75

Housing Wire

MAY 1, 2024

This has led to the development of policies by state and local housing finance agencies to aim assistance specifically at this group, particularly for “mortgage eligibility or down payment and closing costs assistance.”

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Mortgages Finance Closing costs Loans 432

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

DECEMBER 14, 2023

The research found that title and settlement fees are neither regressive nor represent a significant component of the overall closing costs. Given the typical borrower is paying more than $7,000 in closing costs, that might be an understatement. In fact, neither is true. increase in fees).

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Title Closing costs Loans Title search 432

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.

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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. Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

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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 440

Housing Wire

MAY 14, 2024

While most people are focused on how the proposed NAR commission settlement might change the realty industry, not enough focus is on first-time homebuyers, who might have to come up with significantly higher down payments, which in turn could exacerbate biases against homebuyers using FHA loans. But now a new threat is emerging on this front.

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FHA loan Loans Title Mortgages 383

Housing Wire

AUGUST 10, 2023

Mortgage , and/or Closing Cost Credit. For eligible borrowers at or below 80% AMI, the mortgage program allows a 3% down payment on a fixed-rate mortgage and the closing cost credit program provides up to $5,000 to use toward closing costs.

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Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

DECEMBER 14, 2023

Tomb also noted that ALTA was troubled by the fact that Fannie Mae’s announcement came without any discussion with the title insurance industry. In an emailed statement, a Fannie Mae spokesperson wrote that the GSE is continuing to explore ways to improve housing affordability by reducing closing costs.

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Title Land Finance Loans 439

Housing Wire

NOVEMBER 3, 2023

Not available anywhere else in the industry today, consumers can gather inspiration on social media networks like Pinterest, upload photos of their dream home and homegeniusIQ, homegenius Real Estate’s proprietary technology, will instantly analyze the photos and present homes with similar features.

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Closing costs Short sale Technology New Construction 410

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

NOVEMBER 13, 2023

Any person involved in selling a home knows that you cannot increase the price of your home randomly to cover the cost of commissions and other closing costs. The market sets the price of the home, and it cares little for closing costs — or what the homeowner invested in it — when determining the price for which it will sell.

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Closing costs Equity Agents Technology 358

Housing Wire

JANUARY 17, 2024

With this latest enhancement, homebuyers aged 62+ can participate in seller concessions for up to 6% of the sales price toward borrower origination fees, other closing costs, prepaid items, and discount points. 6 “The truth is the real estate industry hasn’t really needed to learn about this financing option over the past decade.

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Finance Seller concession Loan Officer Loans 458

Realty Biz

OCTOBER 10, 2023

Here is what you can do when it comes to marketing properties in the current state of the real estate industry. Some common buyer incentives include closing cost assistance, a home warranty, or a free move-in. Be flexible with your closing date. Keep the above information in mind and you can avoid these pitfalls as well!

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Industrial Marketing Staging Closing costs 86

Housing Wire

APRIL 9, 2024

While most people are focused on how the proposed NAR commission settlement might change the realty industry, not enough focus is on first-time homebuyers, who might have to come up with significantly higher down payments, which in turn could exacerbate biases against homebuyers using FHA loans. But now a new threat is emerging on this front.

FHA loan 450

FHA loan Loans Title Mortgages 450

Housing Wire

FEBRUARY 12, 2024

This is why it’s more important than ever for independent mortgage brokers across the country to establish themselves as an expert and trusted advisor in the mortgage industry. Are they interested in buying, but worried about down payment and closing costs? Read up on industry news every day.

Mortgages 458

Mortgages Loans Closing costs Industrial 458

Housing Wire

JUNE 30, 2021

Data analytics giant CoreLogic announced on Wednesday the acquisition of closing cost data and tech provider ClosingCorp. The closing data company also utilized CoreLogic’s home price data to release its first national refinance closing cost report in 2021, so there’s quite a bit of familiarity between the two firms.

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Closing Closing costs Investor Title 384

Housing Wire

OCTOBER 13, 2022

One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers. Based on those plans, both GSEs are pushing pilot programs promoting the use of attorney opinion letters, reportedly as an alternative to reduce closing costs.”.

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Title Closing costs Title search Closing 396

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 368

Housing Wire

DECEMBER 27, 2023

In the nearly two months since a Missouri jury found the real estate industry liable for colluding to artificially inflate real estate agent commissions, Jason Posnick has fielded a lot of questions about commissions and cooperative compensation from clients. Many in the industry are very distressed,” O’Neill said.

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Agents Industrial Closing costs As-is 432

Housing Wire

DECEMBER 16, 2022

For most real estate industry professionals, title insurance needs no introduction. While other forms of insurance have seen rate increases in recent years, the average cost of title insurance coverage has decreased 7.8% nationally since 2004 and roughly 5% the past two years, based on the most recent industry data from 2021.

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Title Title search Closing costs Closing 473

Housing Wire

MAY 5, 2023

HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments. Optimal Blue , a division of Black Knight, Inc. Black Knight, Inc.

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Investor Finance MLS Closing costs 384

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 421

Loans Closing costs Development Finance 421

Housing Wire

APRIL 26, 2023

Bridge loans are popular among his clients since they allow homeowners to tap into their equity when buying a home, as well as a professional mortgage where buyers in a specific industry can make a 10% down payment without mortgage insurance, Parkinson explained. Niche loans consist of about 5% of Parkinson’s business. “It’s

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Loan Officer Mortgages Loans Closing costs 397

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 441

Fixed-rate mortgage Loans Mortgages Loan Officer 441

Housing Wire

FEBRUARY 14, 2024

This model is still expensive for homeowners because they are paying duplicate closing costs and leaseback fees. The third iteration was pioneered by Calque and is the most cost-effective model of the three. HW: How does Calque help facilitate industry partnerships?

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Backup offer Loan Officer Home sale contingency Branding 421

Housing Wire

DECEMBER 31, 2021

DeCiantis oversees advertising, public relations, social media, creative and customer relationship management that has established the company as the gold standard of the wholesale mortgage industry. Below, DeCiantis answers questions about the housing industry: HousingWire: To start off, what is your current favorite HW+ article?

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Industrial Closing costs Mortgages Closing 397

Housing Wire

DECEMBER 30, 2022

The FHFA and the GSEs are essential to painting the picture of today’s housing market and industry trends. The first is the overall business transformation that’s taking place in the mortgage industry. These are top of mind for my team, our clients and the industry. Because I am.

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Lending Industrial Mortgages Loans 384

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 16, 2024

The Department of Justice (DOJ) is asking the real estate industry to consider a world without the practice of cooperative compensation. And most, if not all, buyers would likely prefer a fee structure that does not reward their broker for helping them to pay more for a home.”

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MLS Lending Closing costs Agents 432

RIS Media

FEBRUARY 29, 2024

Negotiations can include the purchase price, closing costs and contingencies. In real estate transactions, buyers and sellers often negotiate various aspects of the deal. One element that frequently arises during these negotiations is referred to as seller concessions or repair credits.

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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. Earlier in my life, I was directed away from using a VA loan when I purchased my first home.

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