The future of mortgage closings

Housing Wire

A painstaking, uncoordinated movement to fully adopt remote online notarizations nationwide and complete end-to-end digital escrow mortgage closings is gaining even more traction as the real estate industry launches into a new decade in 2021. Closing HWplus

Are you overpromising real estate closing times?

Housing Wire

This week, industry experts discuss how to navigate client and referral partner expectations and minimize closing times when factors like these begin to decelerate the buying process. You can’t say to a them, ‘Hey, we can close faster pick our offer,'” Canale said.

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ICE, DocMagic team up to offer closing technology

Housing Wire

ICE Mortgage Technology will now deploy an “eVault” solution as part of its mortgage closing platform to ensure the secure storage of digital mortgages and notes, it announced late last week. ” In the past year, DocMagic has made headlines in the digital closing space.

Closing costs: Here’s how much money you really need to buy a house

Housing Wire

Understanding what expenses are required at closing to buy a house will help you budget and save more effectively. In this article, we break down exactly what closing costs are so you’re prepared when you start shopping for a home: What are closing costs?

Why 28% of mortgage applicants never close the loan

Housing Wire

Get $75 off your initial membership with coupon code “intro75” The post Why 28% of mortgage applicants never close the loan appeared first on HousingWire. Lonnie Glessner isn’t normally one to turn down business. But with origination volume expected to exceed $3.4

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Creating a more secure closing process for everyone involved

Housing Wire

The post Creating a more secure closing process for everyone involved appeared first on HousingWire. Sponsored Content consumer wire account verification service cwav Digital closing fraud prevention fraud protection FundingShield Ike Suri mortgage wire fraud wire fraud

Purchase market will highlight closing process problems

Housing Wire

The closing process, that time between underwriting approval and the actual closing, is the mortgage industry’s not-so-secret Achilles’ heel. That’s not a knock on the good professionals who enact minor miracles choreographing the multi-faceted ballet that is a typical closing.

Lenders pick up the pace in closing mortgages

Housing Wire

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans.

Multi-closing fraud risk holds steady in 2020

Housing Wire

A new annual report from CoreLogic shows multi-closing fraud risk held steady in 2020 after having decreased the past several years. According to the CoreLogic Multi-Close Alert Program (MCAP), 2020 is projected to have a similar level of findings as was seen in 2019.

States Title raises $150M for home closing tech

Housing Wire

Title insurance upstart States Title announced this week $150 million in debt financing from HSCM Bermuda , which will go towards developing a more modern home closing experience. As a result, State Title was able to patent technology that removed entire chunks of the closing process.

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Fraud risk factors at closing increased almost 90% last quarter

Housing Wire

As housing professionals navigate regulatory changes and accelerated tech adoption, wire and title fraud risk factors in mortgage and real estate closings increased almost 90% in the last quarter.

Rocket Mortgage performs first eNote close on Ginnie Mae mortgage

Housing Wire

In December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae -backed loan as part of a pilot program. Eventually, I think what you’re going to see is the entire industry adopts this as a method of closing, because it’s really a better consumer experience.”.

Notarize and Realogy Title Group see 200% spike in RON closings

Housing Wire

Spurred by the impact of the coronavirus, the partnership closed more than 1,600 RON transactions in the first half of 2020, a more than 200% increase over the 500 RON transactions that they closed in all of 2019, the companies told HousingWire. “We

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Snapdocs raises $60 million to scale up its digital closing business

Housing Wire

million digital mortgage closings this year, more than double its volume from 2019. We’re feeling tremendous growth on the digital closing front which is really, really exciting,” Snapdocs Founder and CEO Aaron King said in a statement.

The rapid adoption of digital closings during COVID-19 shows what’s possible in the mortgage industry

Housing Wire

We sat down with Nancy Alley, vice president of strategic planning at Simplifile and one of HousingWire’s 2020 Women of Influence, to talk about the rapid changes in the closing process as a result of the pandemic. Yet, adoption by closing and post-closing operations lagged considerably.

Finance of America to go public before IPO window closes

Housing Wire

The post Finance of America to go public before IPO window closes appeared first on HousingWire. Finance of America on Monday will become the latest lender to make its debut on the New York Stock Exchange.

Margin compression could serve as accelerant toward digital closings

Housing Wire

In 2021, the potential for margin compression could serve as yet another accelerant towards digital mortgage closings as lenders seek to improve capital efficiency and offer a more competitive experience to borrowers.”. Nominations for 2021 Women of Influence close this Friday, April 23.

2021 Rising Stars Nominations are closing soon!

Housing Wire

The post 2021 Rising Stars Nominations are closing soon! Today is the last day to nominate a 2021 Rising Star – don’t forget to submit your nominations by the end of the day!

Don’t Forget to Budget for Closing Costs

Keeping Current Matters

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.

Finalize the closing disclosure earlier in the process using this collaborative platform

Housing Wire

The CoreLogic Title & Closing Solution offers an enhanced workflow designed to support lenders and vendors in the title and closing process. The Title & Closing Solution syncs order management, secures vendor communication and document transfer, encourages full compliance, and ultimately enhances consumer experience in home ownership. The post Finalize the closing disclosure earlier in the process using this collaborative platform appeared first on HousingWire.

Built Technologies closes $88 million Series C funding round

Housing Wire

Multi-year HousingWire Tech100 winner Built Technologies , a construction finance software and construction payment technology company, closed an $88 million Series C funding round. The post Built Technologies closes $88 million Series C funding round appeared first on HousingWire.

Who pays closing costs? And how can buyers avoid them?

The Mortgage Report

Who pays closing costs? But as a home buyer there are ways to avoid closing costs or at least reduce them. About Mortgages Buying a home First-Time Home Buyers Mortgage Strategy closing costs are negotiable closing costs vary by type of mortgage how much are closing costs?

How long does it take to close a mortgage? Timeline to close

The Mortgage Report

Closing a mortgage often takes 45-60 days, depending on your loan type, application, and whether you're buying a home or refinancing. About Mortgages Closing Gina Pogol Housing Mortgage mortgage rates Real Estate

The Keys to a Quick Close: 6 Ways to Speed Up Your Client’s Closing

Realty Biz

As a real estate agent, there are few things more frustrating than working with a client who is knee-deep in a closing standstill. Ultimately, closing delays lose you money and keep you from focusing more time and attention on clients ready to move forward with the escrow process.

Unwrapping what to expect in your home inspection, appraisal and closing

Housing Wire

Have you budgeted for closing costs? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Closing.

Snapdocs closes on $60M to further defragment real estate closings

Inman

Industry News Mortgage News Brief Select Technology Venture Capital curbside closing digital escrow e-closing eMortgage fundraising RON Series C round Snapdocs venture capital Y-Combinator

Qualia integrates RON product into its platform for contactless closings

Housing Wire

Qualia announced Wednesday that it has extended the capabilities of its real estate closing platform with the launch of a remote online notarization product. Its goal is to enable entirely digital, contactless home closings.

What to look for in a closing disclosure form

Inman

How long has it been since you updated your closing disclosure form? Agent Brokerage Select Service closing closing cost Closing Disclosure form Consumer Financial Protection Bureau marvin stone Prorations purchase contract transaction Transaction terms

Speed up the closing process with industry-leading solutions

Housing Wire

The post Speed up the closing process with industry-leading solutions appeared first on HousingWire. The mortgage industry is no stranger to disruption since the onset of the COVID-19 pandemic.

The state that may never accept RON mortgage closings

Housing Wire

Get $75 off your initial membership with coupon code “intro75” The post The state that may never accept RON mortgage closings appeared first on HousingWire. As COVID-19 swept through the U.S.,

Can closing costs change on the closing disclosure?

The Mortgage Report

Some closing costs can increase on the Closing Disclosure (CD) but others can't. Here's how to use the CD to get the deal you were promised. About Mortgages

Digital closing tech JetClosing opens Austin office, its 5th nationwide

Inman

Industry News News Brief Select Technology apps austin COVID-19 curbside closings digital closing technology digital transactions hybrid closings JetClosing real estate technology RON TX

Fidelity National Financial announces digital closing tool

Inman

"Close inHere" is part of the company's "inHere Experience Platform," an end-to-end platform that provides transaction tracking, e-notarization and e-closing services.

Understanding the Closing Costs Associated With a New Home Purchase

RIS Media

Items to Be Paid at Close of Escrow. – Closing/escrow/settlement fee, title insurance, notary fee, recording fee, pest inspection, home inspection, home warranty. For more information on closing costs, loans and refinancing, visit REeBroker Group Loans.

Remote online notarization is the proper path forward for digital closings

Housing Wire

One area in the mortgage and real estate industry that has been evolving for nearly two decades is digital closings. Much like efforts to achieve full self-driving vehicles, the road to achieve full digital closings has been bumpy. In Japan, the word for “improvement” is kaizen.

Virtual notary adoption surges as businesses rush to close transactions remotely

Housing Wire

The virtual notary services industry has become increasingly popular amid the COVID-19 pandemic as businesses have adopted remote signatures to adhere to social distancing protocols while closing on mortgages and other loans.

It’s a lawsuit waiting to happen! Avoid these post-closing problems

Inman

Agent Back to Basics Brokerage Columns Select Service Video bernice ross cancelled transaction closing closing problems disclosure Disclosure problems easements encroachments post-closing problems theme-month-202104 transaction

Are Closing Costs Tax Deductible?

Redfin

But what if you recently bought a home, are closing costs tax-deductible? Before answering that question, it’s a good idea to understand what closing costs are and what is typically included in them. What Are Closing Costs? Are Closing Costs Tax Deductible?

Lanco Title joins Northwest Title family of companies

Housing Wire

Knight Barry Title acquired its 14th and 15th Florida-based firms — Closing Boutique and Home Title America — earlier this month. Closing digital closings first quarter 2021 title Lanco Title Northwest Title Family of Companies Ohio title and closing title and closing

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ProperSign updates with QuickSign to speed digital closings

Inman

e-closing News Brief Select Technology digital escrow digital transactions eClosings electronic transactions hybrid closings ProperSign QuickSign remote online notarization RON