Housing Wire

APRIL 26, 2024

In certain circumstances, the program would allow for inclusion of “an ‘interested party contribution’ [of] up to six percent of the sales price,” according to the original plan. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

Closing costs 411

Closing costs Development Equity Closing 411

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 86

Closing costs Closing Mortgages Loans 86

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.

Mortgages 314

Mortgages Closing costs Equity Construction 314

Housing Wire

MARCH 11, 2024

The initiative helps with the lack of houses for sale, but these sellers are likely to become buyers again and will continue pressure the market. The industry should be “on guard,” but structural reforms take “considerable time and political will.” Market participants await more clarity on this topic in the coming weeks.

Title 370

Title Closing costs Mortgages Closing 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.

VA loan 437

VA loan Agents Seller concession FHA loan 437

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.

Closing costs 71

Closing costs Closing Seller concession Purchase and sale agreement 71

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.

Closing costs 328

Closing costs Short sale Technology New Construction 328

Housing Wire

JANUARY 17, 2024

For real estate professionals, this option presents an opportunity to capture more sales. 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.

Finance 418

Finance Seller concession Loan Officer Loans 418

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.

Closing costs 339

Closing costs Equity Agents Technology 339

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.

Fixed-rate mortgage 369

Fixed-rate mortgage Closing costs Lending Banks 369

BAM Media

MAY 28, 2024

BAM Key Details: About one-third of single family homes for sale in the first quarter of 2024 were new construction, roughly the same as last year but nearly double pre-pandemic levels. New builds made up about one-third (33.4%) of all homes for sale in Q1 2024—pretty close to last year’s share but down from a record high of 34.5%

New Construction 59

New Construction Construction Sales Closing costs 59

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!

Industrial 86

Industrial Marketing Staging Closing costs 86

Housing Wire

DECEMBER 4, 2023

There are multiple lawsuits challenging the prevailing structure of real estate agent commissions, and, as a result, there is no shortage of industry conversation on the topic. Determining property values involves analyzing several variables beyond just sale prices. Injecting “Who bore the buyer’s agent commission?”

Mortgages 399

Mortgages Closing costs Agents Finance 399

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.”

MLS 422

MLS Lending Closing costs Agents 422

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. They actually seem more on the side of the real estate agents,” Posnick said. “It

Agents 416

Agents Industrial Closing costs As-is 416

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. A total of 45% of participants said home sales in their markets will remain flat for the next three months; 30.3% said sales will go up more than 5%; and 25.2%

Mortgages 301

Mortgages Loan Officer Marketing Seller concession 301

Housing Wire

APRIL 18, 2023

However, it still appears that lenders are focusing their technology investments on the point of sale. But it still appears that the emphasis is on the big systems — with the focus on Point-of-Sale (POS) and Loan Origination System (LOS) technology especially. And yes, the time and cost associated with manually determined closing fees.

Mortgages 345

Mortgages Technology Closing costs Title 345

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. HW: How does Calque help facilitate industry partnerships?

Backup offer 353

Backup offer Loan Officer Home sale contingency Branding 353

Lab Coat Agents

MAY 21, 2024

However, recent changes in the industry have led to a significant reduction in assumable mortgage approval timelines, making this option more accessible and appealing than ever before. However, recent changes in the real estate industry have streamlined the assumption process, making it faster and more efficient than ever before.

VA loan 98

VA loan Mortgages Loans FHA loan 98

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

Loan Officer 386

Loan Officer Mortgages Loans Closing costs 386

Housing Wire

MARCH 21, 2024

per FICO score, and that constitutes less than two-tenths of 1% of the average closing costs of $6,000 per mortgage and is 15% or less of the average cost of a $70 tri-merge credit report.” Changes in credit report costs may result in lawsuits against the company.

Mortgages 400

Mortgages Purchase and sale agreement Closing costs Investor 400

Housing Wire

APRIL 3, 2024

This policy requires brokers not to shop after locking a loan, which in the mortgage industry usually occurs at the beginning of the loan process. In addition, UWM borrower origination costs are $2,500 more than the most competitively priced lenders (those whose origination costs are at the 20th percentile), the lawsuit contends.

Loans 447

Loans Loan Officer Mortgages Closing costs 447

Housing Wire

AUGUST 21, 2023

The fastest-growing housing tech firm in 2023 was OptiFunder , which claims to produce the mortgage industry’s only optimization software built to systematically decision warehouse funding allocations and automate the complicated process of funding through loan sale. The company, led by Tyler Adams, raised $12.5

Equity 349

Equity Technology Investor Lending 349

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. In the past year, there was roughly $12 billion in sales of manufactured homes.

Loans 368

Loans Mortgages Land Finance 368

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.

Lending 314

Lending Industrial Mortgages Loans 314

Housing Wire

SEPTEMBER 15, 2023

Our way of honoring first responders is by educating our podcast listeners, readers and coaching clients in the real estate industry about how to help those who helped all of us and are still being of service every day. These features make VA loans one of the most attractive loan programs available in the industry.

VA loan 385

VA loan Loans Mortgages Closing costs 385

Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. bps toward closing costs at the time of the closing. “We Rising rates caused refinances to dry up, production plummeted, and pink slips were issued to employees.

Mortgages 385

Mortgages Investor Loans Banks 385

Housing Wire

NOVEMBER 21, 2022

The housing industry is at an unprecedented moment in time. Throughout this volatility, one constant has remained: the chronic and seemingly intractable deficit in single-family, 1–4-unit, entry-level homes for sale. trillion in mortgage origination volume in 2022. trillion in mortgage origination volume in 2022. and Columbus, Ohio.

Finance 338

Finance Design Equity Construction 338

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.

Principal 381

Principal Mortgages Closing costs Title 381

Realty Biz

JULY 31, 2022

Whether you are a buyer, seller, or potential real estate agent thinking about entering the industry, we will cover what you need to know about commissions and how much a Realtor makes in a year. The commission is a percentage of a home’s total sale price for working on a sale. What Will a Real Estate Agent Make on a Sale?

Sales 94

Sales Brokerage Agents Closing 94

Housing Wire

MAY 25, 2023

[They likely] would feel much more confident that they can keep a significant amount of the proceeds from their departure home and not have to make monthly mortgage payments, provided they continue to pay their taxes and insurance and maintain the home,” said Rob Cooper, National Purchase and Builders Sales Leader for Longbridge. “If

Loan Officer 374

Loan Officer Equity Finance Loans 374

Housing Wire

AUGUST 9, 2022

Luna has worked her way through the ranks and is now among the most recognizable pros in the title industry. “I I have worked every position in the title industry, from the front desk to file clerk, to copy girl, to a notary, to an escrow officer. BH: You mentioned doing sales for a builder before getting back in title.

Title 360

Title Principal Closing Industrial 360

Toronto Realty Blog

AUGUST 12, 2022

I’m not exactly complimentary of the pre-construction industry, or developers, or assignments,” I added. “I’d rather not pay that fee if I can avoid it,” he told me. “I’m hoping we can build that into the sale.” And what will the closing costs look like? Or inquiring.

Sales 93

Sales Marketing Purchase and sale agreement Construction 93

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. There will likely be fewer Realtors, the sales volume will be handled by fewer Realtors. Anywhere Real Estate just settled two of the cases for a total of $83.5

Agents 373

Agents Loan Officer Lending MLS 373

Housing Wire

OCTOBER 10, 2023

After six years of no enforcement actions and a rapidly declining housing market, RESPA attorneys believe some in the industry may be more willing to test the boundaries. “I More than a dozen industry pros and attorneys told HousingWire that RESPA rules are unclear, leaving violations to flourish in a shrinking market.

Loan Officer 402

Loan Officer Loans Brokerage Mortgages 402

Housing Wire

NOVEMBER 15, 2023

This is only phase one,” concluded another industry veteran. The point being, there’s no consensus among real estate agents and brokers regarding what happens next, how the industry should respond or even how agents should talk to clients. “Would love for our MLS to not be a part of the organization. Nearly 300 responded.

Purchase and sale agreement 367

Purchase and sale agreement MLS Agents FHA loan 367

HomeLight

MARCH 30, 2022

Whether you’re an investor looking for a speedy sale so you can move on to your next deal or a homeowner trying to unload a property quickly to avoid financial strain, you’re in search of real estate cash buyers to purchase your house without a lengthy or uncertain process. Reduce the time it takes to close your sale.

Sales 89

Sales Investor Renovation Due diligence 89