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Newrez partners with Newzip to court more homebuyers

Housing Wire

Top 10 mortgage lender and servicer Newrez is partnering with Newzip , a tech-enabled real estate platform, to roll out a program aimed to save buyers and sellers on credit costs. They will also be offered closing cost credits of up to 0.5% The program is only eligible for loans that close through Newrez.

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Desperate for deals, mortgage pros get creative

Housing Wire

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. That’s why builders are utilizing closing cost incentives and temporary rate buydowns often funded by lenders. “If

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

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Count the Closing Costs: A Line-By-Line Guide to Closing Costs With A Mortgage

HomeLight

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. What are closing costs ?

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How does the “buy before you sell” model differ from iBuyers and Power buyers?

Housing Wire

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. That also means local agents can keep working with loan officers they know and trust.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

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. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

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. “But agent commissions have never been a closing cost from a buyer perspective. Grant said.

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