Housing Wire

JUNE 17, 2024

Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. It can be used to pay nonrecurring closing costs, such as appraisal, processing, title and recording fees.

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Closing costs Closing VA loan Banks 468

Housing Wire

AUGUST 1, 2024

The Community Home Lenders of America (CHLA) on Thursday issued a comment letter to the Consumer Financial Protection Bureau (CFPB), saying that a major reason for the increase in mortgage closing costs from third parties is due to a lack of competition among third-party providers.

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Closing costs Closing Title Loans 440

Housing Wire

DECEMBER 26, 2022

With the housing market slowing down from its pandemic-fueled frenzy, wire fraud threats, regulatory challenges and the perennial challenge of an aging workforce, the title insurance industry will have a lot to juggle in the new year. For the title insurance industry, she feels this will result in a thinning of the herd.

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Title Industrial Closing costs Closing 498

Housing Wire

DECEMBER 16, 2022

For most real estate industry professionals, title insurance needs no introduction. A trusted product , title insurance has been used to protect real estate transactions and property rights for over a century. Title insurance is different than most other insurance products. Title insurance is a comprehensively regulated product.

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Title Title search Closing costs Land 482

Housing Wire

MAY 9, 2022

Closing costs for homeowners who jumped on the refi wave in 2021 increased at less than one-third the pace of closing costs for home purchases as homebuyers had to cope with a hot market that fueled higher home-sale prices and related settlement costs. How to avoid home closing delays in 2022.

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Closing costs Loans Closing Title 370

Housing Wire

DECEMBER 14, 2023

Part of the equitable housing plans’ approach to achieving more equity includes reducing the costs and fees associated with buying a home that are often cited as a homeownership barrier for low- and moderate-income and non-white households. In fact, neither is true. What differences do exist are very small. increase in fees).

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Title Closing costs Loans Title search 441

Housing Wire

FEBRUARY 23, 2023

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders. As an industry, our commitment to protection goes beyond title insurance policies. The bill is being considered in several states nationwide.

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Title Industrial Purchase and sale agreement Title search 460

HomeLight

OCTOBER 29, 2024

If you’re about to close on your Alabama home sale, you’re likely wondering how much you’ll owe in closing costs. Nationally, sellers typically pay between 6% to 10% of the property’s sale price in closing costs. Receive your offer in 24 hours and close in as few as 10 days.

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Closing costs Closing Title search Title 105

Housing Wire

APRIL 18, 2025

Buyers should also budget for post-closing expenses such as landscaping, window treatments, built-in cabinetry and appliances that may not be included. Transfer taxes, title policies and potential appraisal shortfalls should be considered. For quick move-in homes, closing dates can also be adjusted.

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Purchase and sale agreement New Construction Construction Closing costs 344

HomeLight

OCTOBER 28, 2024

One of the most important things that you should keep in mind is that there are several costs you’ll need to pay to finalize your sale. Nationwide, closing costs for sellers can range from 6% and 10% of a property’s sale price. Receive your offer in 24 hours and close in as few as 10 days.

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Closing costs Closing Title Sales 105

Housing Wire

APRIL 11, 2022

In a selling guide announcement released last week, Fannie Mae announced that it would be accepting written opinion letters from an attorney in lieu of a title insurance policy “in limited circumstances.”. If a lender receives an AOL in lieu of a title insurance policy, the lender must report Special Feature Code 155 when delivering the loan.

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Title Closing costs Loans Closing 417

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. The program would grant certain mortgage lenders a waiver on title insurance requirements for loans sold to Fannie Mae and will be rolled out this spring, according to Politico.

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Title Closing costs Finance Land 403

Housing Wire

OCTOBER 13, 2022

Unlike the title industry’s cybersecurity and wire fraud challenges, which are strictly 21 st century issues, the recent interest and use of attorney opinion letters (AOLs) harkens back to an earlier era of homebuying. One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers.

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Title Closing costs Title search Closing 400

Housing Wire

JUNE 28, 2024

Title insurance provides vital protection to the largest and most important purchase most Americans will ever make—their home. ” The agency alleges that so-called hidden “junk fees” in closing costs are at the root of housing affordability challenges. Brad Sherman (D-CA).

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Title Closing costs Closing Industrial 388

Housing Wire

MARCH 8, 2024

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings.

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Title Industrial Land Closing costs 441

Housing Wire

AUGUST 14, 2023

The American Land Title Association (ALTA) is celebrating a huge win in its ongoing war against title insurance alternatives. News of the rumored pilot program came in March, roughly a year after Fannie Mae first announced that it would be accepting attorney opinion letters (AOLs) in lieu of title insurance in limited circumstances.

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Title Closing costs Finance Land 370

Housing Wire

SEPTEMBER 6, 2024

For more than two years, a storm has been brewing in the title insurance industry. Last week, the first raindrops began to fall when the Office of the Attorney General for the District of Columbia (OAG) announced settlements with four title firms over alleged kickback schemes. Because these title firms were all licensed by the D.C.

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Title Industrial Agents Closing costs 441

Keeping Current Matters

MAY 17, 2021

Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? According to Trulia : “ When you close on a home, a number of fees are due.

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Closing costs Closing Title Land 294

Housing Wire

AUGUST 9, 2022

Rachel Luna, principal of Patriot Title Company. With over 13,000 followers on Instagram , Rachel Luna, the principal of Texas-based Patriot Title Company , is the self-proclaimed “Texas Title Queen.” Luna has worked her way through the ranks and is now among the most recognizable pros in the title industry. “I

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Title Principal Closing Industrial 388

HomeLight

OCTOBER 31, 2024

In this post, we explore the question: Are closing costs tax deductible? What are examples of seller closing costs? When selling a home, you’ll encounter various closing costs as part of the process. On average, sellers pay between 2% and 5% of a home’s sale price in closing costs.

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Closing costs Closing Title search Title 111

Housing Wire

OCTOBER 9, 2023

AI-generated image of two lawyers scrutinizing title insurance joint venture agreements. In 1983 Jim Campbell launched what is believed to be the first joint venture experiment between a real estate brokerage and a title and settlement firm. In fact, it’s all his Pennsylvania-based company Title Alliance does.

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Title Brokerage Investor Closing 451

Inman

JULY 11, 2025

Title insurers wanted to put the brakes on a pilot program that uses automated title reviews to allow some homeowners to refinance their mortgage without having to pay for title insurance.

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Title Land 142

Housing Wire

APRIL 13, 2022

Title insurance protects borrowers from financial loss if the lender discovers a defect in the title to the property (for example, a previous mortgage) and demands a borrower to pay back the loan. Additionally, title companies are not allowed to accept any commissions or referral fees from lenders when issuing title policy coverage.

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Title Lending Closing Closing costs 387

Housing Wire

MARCH 27, 2025

FinLocker said that its announcement is the first step in the company’s mission to make homeownership more accessible “by removing unnecessary friction and costs from the mortgage process.” ” FinLocker indicated that future initiatives will target other high-cost areas like title expenses.

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Mortgages Loan Officer Technology Loans 351

Housing Wire

APRIL 7, 2025

In our community, many first-time buyers were using those to buy down interest rates or cover closing costs. Effect of federal grant cuts Herrera acknowledged the challenges facing Hispanic homebuyers today, including cuts to numerous federal grant programs that have proved vital for first-time and low-income buyers.

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Commercial Title Closing costs Equity 370

Housing Wire

MARCH 2, 2021

HW: How can integrating title and valuation data points alleviate those pain points? SG: It can help close loans with greater speed and ease, reduce vendor oversight, mitigate risk, lower costs and ease underwriting reviews for lenders, servicers and investors. It’s easy to see why.

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Title Lending Due diligence Title search 337

HomeLight

OCTOBER 24, 2024

Typically, a seller can expect to pay between 3% and 6% of a home’s sale price as commission, plus another 2% to 4% for closing costs , including taxes, settlement fees, and title fees. That means $6,047 to $12,095 of your home sale may go towards paying closing costs. Available to sellers throughout Ohio.

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Closing costs Closing Title Sales 102

Inman

FEBRUARY 4, 2025

In his first act as interim Consumer Financial Protection Bureau director, Treasury Secretary Scott Bessent froze action on all rules and litigation. Here's what that potentially means for the recent slate of rules and lawsuits targeting the mortgage industry.

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Closing costs Closing Loans Mortgages 141

Housing Wire

AUGUST 13, 2024

The American Land Title Association is making it clear that it won’t have the Consumer Financial Protection Bureau making drastic changes to title insurance without first at least hearing the trade groups thoughts on the issue. 2, the trade group stressed the importance of title insurance.

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Title Mortgages Land Closing costs 451

Housing Wire

SEPTEMBER 9, 2024

“We really think closing costs can be a significant obstacle to refinancing,” Chopra said at an AI and technology conference jointly hosted by ICE Mortgage Technology and the National Housing Conference at the New York Stock Exchange on Monday. At least when it comes to redundancies with refinancings, that is.

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Mortgages Closing costs Title Technology 460

Housing Wire

OCTOBER 4, 2022

Closing fee-related compliance tool provider LodeStar is integrating with title insurance provider Stewart , the companies said Monday. Users can also streamline cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the Loan Estimate (LE).

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Title Loan Officer Closing costs Closing 430

Housing Wire

DECEMBER 14, 2023

In an update to its selling guide , Fannie Mae announced Wednesday that it was expanding the use of attorney opinion letters in lieu of title insurance. Fannie Mae first announced that it would accept loans secured with an AOL in lieu of title insurance in limited circumstance in April 2022.

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Title Land Finance Loans 448

Housing Wire

MARCH 1, 2024

For example, recently, Fannie Mae has focused on expanding alternatives to title insurance as a way to supposedly increase homeownership affordability. However, Fannie Mae’s own research from 2022 found that title insurance is not a significant component of the overall closing costs when buying a home.

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Title Title search Industrial Closing costs 449

Redfin

FEBRUARY 20, 2025

Closing costs arent just a buyers responsibility – sellers have their own expenses to consider as well. On average, sellers can expect to pay between 6% to 10% of the sale price in closing costs , including agent commissions, transfer taxes, and title fees. What are closing costs for sellers?

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Closing costs Closing Seller concession Title 56

Housing Wire

MARCH 21, 2024

The third-party mortgage cost has similarities to the characteristics identified in the Consumer Financial Protection Bureau ‘s ( CFPB ’s) recent blog post on closing costs, the CHLA argued.

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Closing costs Loans Title Finance 468

Redfin

FEBRUARY 18, 2025

Can you roll closing costs into your mortgage? Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing. Your lender can explain their specific policies, the rules around this practice, and which costs are eligible to be rolled into the mortgage.

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Closing costs Closing VA loan Seller concession 52

Housing Wire

MARCH 7, 2024

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. It is also wary of some of the proposals.

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Construction Closing costs Renovation Title 535