Housing Wire

JUNE 11, 2021

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. The buyer typically covers the cost of the appraisal.

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Inspection Closing Closing costs Title search 459

Housing Wire

APRIL 25, 2023

Tavant , a Silicon Valley-based digital lending solutions provider, is adding a new product called Asset Analysis to its AI-powered digital lending platform, Touchless Lending. Touchless Lending provides straight-through mortgage processing and automated underwriting as part of the end-to-end mortgage manufacturing pipeline.

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Lending Banks Loan Officer Loans 396

Housing Wire

FEBRUARY 6, 2025

Younger service members struggle during the homebuying process, particularly around paying closing costs. Department of Veterans Affairs established the VA lending program as part of the Servicemens Readjustment Act (later renamed the GI Bill). Its important to take a moment to look back at the history behind VA benefits.

Industrial 326

Industrial Lending Closing costs Loans 326

Housing Wire

APRIL 13, 2022

However, most title policies offer 100% coverage of all costs associated without any title defects discovered during their review, but because any extra fees for services offered by title insurance companies in this process are not regulated, these “services” and additional fees are where borrowers are typically taken advantage of.

Title 397

Title Lending Closing Closing costs 397

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.

Closing costs 114

Closing costs Closing Loans Mortgages 114

Housing Wire

MARCH 2, 2021

Add the fact that lenders are not only dealing with a remote workforce these days, which is an operational challenge in itself, they are also facing a major shortage of qualified appraisers, underwriters and other operational staff in certain markets, which could cause even longer closing delays. It’s easy to see why.

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Title Lending Due diligence Title search 383

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. The most obvious argument against a totally digital lending approach—and the one that requires the least amount of rationale—is that customers don’t want it.

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Lending Marketing Pre-qualification Pre-approval 370

Housing Wire

AUGUST 5, 2020

According to one broker, Parkside Lending and Stearns Lending are offering a 15-year-fixed rate as low as 1.75% to some mortgage brokers, depending on the relationship. (We If people are willing to buy or refinance at a higher rate, they can get a rebate toward closing costs,” he said.

Mortgages 528

Mortgages Loan Officer Lending Loans 528

Housing Wire

JULY 7, 2022

Another cornerstone of Fannie Mae’s equity plan is the use of targeted lending programs. Fannie Mae sought feedback while its plan was in development and learned some lenders were hesitant to implement special purpose credit programs, which can target lending products based on a protected class.

Equity 448

Equity Lending Closing costs Development 448

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. These credits can lead to fair lending violations.

Closing costs 488

Closing costs Development Equity Closing 488

Inman

FEBRUARY 19, 2025

RocketRentRewards lets homebuyers earn closing cost credits equal to 10 percent of their verified rent payments over the past year, or $2,160 for those paying the average $1,800 in rent.

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Closing Closing costs Banks Lending 126

Housing Wire

JULY 5, 2023

Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads. The company’s management team implemented this policy, the complaint alleges, because refinancing can come with high closing costs that range between $5,000 and $10,000 dollars.

Mortgages 370

Mortgages Closing costs Lending Closing 370

Housing Wire

NOVEMBER 7, 2023

Potter added: “Government lending would come to a halt. Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” “But agent commissions have never been a closing cost from a buyer perspective. Grant said.

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again.

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

AUGUST 10, 2023

“Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Mortgage , and/or Closing Cost Credit. Wells Fargo’s mortgage originations reached $7.8

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

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.

Closing costs 370

Closing costs Finance Lending Development 370

Housing Wire

NOVEMBER 8, 2022

The aim of the partnership is to introduce LodeStar Discovery, a closing fee calculator, to mortgage loan originators using the LendingPad platform. LodeStar Discovery provides access to title and closing fees across the U.S. LodeStar Discovery provides access to title and closing fees across the U.S.

Closing costs 370

Closing costs Title Lending Loans 370

Housing Wire

MAY 9, 2022

The layoffs affect mainly mortgage consultants, specialists, and assistants, but it targets underwriting and closing professionals. The list includes top executives, such as lending directors and vice presidents for credit and underwriting. Affected employees will receive 60 days of equivalent pay and benefits.

Lending 418

Lending Closing costs Title Mortgages 418

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers.

Debt-to-income ratio 435

Debt-to-income ratio Closing costs Finance Lending 435

Housing Wire

FEBRUARY 10, 2025

These younger servicemen and women often face difficulties navigating the homebuying process, particularly around paying closing costs. But Veterans and their families are defined by much more than just their credit scores and deserve more nuanced consideration of their unique circumstances when making lending decisions.

Industrial 221

Industrial VA loan Lending Loans 221

Housing Wire

APRIL 30, 2024

AARP concerns “FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” HUD said in its update to the policy. Certner cited fair lending concerns and the potential of undue borrower influence.

Mortgages 447

Mortgages Closing costs Equity Construction 447

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 459

Banks Closing costs Lending Equity 459

Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. Can you connect those dots for me? Ed Gerding: Sure.

Lending 447

Lending VA loan Banks Investor 447

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. And now to debunk the myths: MYTH: VA loans take forever to close and rarely close on time. David Smith is the VP of National VA Lending at loanDepot.

Loans 468

Loans VA loan Mortgages Lending 468

Housing Wire

JUNE 11, 2024

TG: Of all the QC-related updates to the Fannie Mae Selling Guide, the most significant for lenders were the mandatory 10% pre-funding sample review and the truncated timeline for post-closing selection, review, rebuttal and reporting. TG: One of the cases that our compliance team is watching closely is CFPB v.

Loans 447

Loans Lending Mortgages Closing costs 447

Housing Wire

MAY 10, 2021

Lending and services platform Finance of America Inc. This product provides an entry point for contractors to introduce homeowners to lending solutions for their projects. However, it doesn’t require a HUD inspector or consultant — it similarly requires the borrower to pay closing costs and origination fees.

Renovation 397

Renovation Finance Loans Lending 397

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. This type of loan only has one set of closing costs to pay, reducing the borrower’s overall fees.

Construction 418

Construction Loans Loan Officer New Construction 418

RIS Media

MAY 19, 2021

May vary widely between lenders and are not dependent on the cost of the loan. Items to Be Paid at Close of Escrow. Non-Recurring Costs Not Associated With the Lender. – Closing/escrow/settlement fee, title insurance, notary fee, recording fee, pest inspection, home inspection, home warranty.

Closing costs 116

Closing costs Closing Pre-approval VA loan 116

Housing Wire

MARCH 25, 2021

If your credit isn’t good, lenders are less likely to lend you money. With closing costs, insurance, furniture, etc. But here’s the thing, to be approved your credit needs to be in good shape. While student loan debt isn’t the biggest factor in determining a credit score, it’s still something lenders look at.

Debt-to-income ratio 511

Debt-to-income ratio Loans FHA loan Finance 511

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.

Investor 397

Investor Finance MLS Closing costs 397

HomeLight

NOVEMBER 10, 2021

When you sell your house without the help of a real estate agent, you’ll save money on commission fees but won’t escape closing costs entirely. The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. Seller FSBO closing costs.

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Closing costs Closing Title Title search 111

Housing Wire

APRIL 26, 2023

This is honestly where good loan officers can really separate themselves,” Josh Burruss, executive vice president and chief lending officer of Intercoastal Mortgage , said. That’s why builders are utilizing closing cost incentives and temporary rate buydowns often funded by lenders. “If

Loan Officer 418

Loan Officer Mortgages Loans Closing costs 418

Housing Wire

DECEMBER 30, 2022

This is the result of several forces: the Fed’s anti-inflation policy; the rapid deceleration in lending that’s resulted in a 40% drop in applications; the rising cost of mortgage production, which has now broken the $10,000 per loan threshold; and the continued drive towards digitization in mortgage lending.

Lending 397

Lending Industrial Loans Mortgages 397

Housing Wire

AUGUST 13, 2024

ALTA argues that consumers are in fact very well informed about the price of closing costs as under the CFPB’s TILA-RESPA Integrated Disclosure (TRID) rule, the cost of title insurance and related services is disclosed to consumers at the start of the loan underwriting process and prior to closing. 2, 2024.

Title 468

Title Mortgages Land Closing costs 468

Housing Wire

NOVEMBER 30, 2022

Among this impressive list of submissions, companies like 2022 TECH100 honoree Voxtur are working to improve the entire lending lifecycle. Last year, Voxtur was selected as a TECH100 mortgage honoree for its work in empowering the real estate industry to become faster, more efficient and more cost-effective than ever before.

Industrial 370

Industrial Title Lending Technology 370

HomeLight

APRIL 12, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase. What are closing costs?

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Closing costs Closing Purchase and sale agreement Title search 104

Housing Wire

OCTOBER 27, 2020

Mortgage lending has gotten stricter during the COVID-19 pandemic. They would function similarly to 529 college savings plans, allowing residents to save up for their down payment, closing costs, and other home-buying expenses. Chase, for example, upped their minimum down payment to 20% in the early months of the pandemic.

VA loan 418

VA loan FHA loan Loans Banks 418