article thumbnail

Industry supports FHA’s 40-year loan term option — with caveats

Housing Wire

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. Leslie Rouda Smith, president of the NAR, used her own letter to the FHA to explain the trade group has been “concerned” about the pandemic’s impact on the housing market.

Loans 413
article thumbnail

Housing Tech Rundown: Quantarium, Equifax and Ellie Mae

Housing Wire

Artificial Intelligence company Quantarium announced on Thursday its partnership with Valligent Technologies to launch a condition adjusted “Quantarium Valuation Model” for equity lending, broker price opinions and real estate owned valuations.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Opinion: 5 policy changes that can improve housing affordability

Housing Wire

Residential zoning laws are designed to promote orderly development, control traffic flow, and ensure that noise and activity levels are appropriate to each specific neighborhood. It is fair to say that the current shortage of housing supply is at crisis levels, which is the primary reason home prices have soared in recent years.

Land 379
article thumbnail

Five Types of Forclosure and Tips for Purchasing Each Type

Realty Biz

A property goes into pre-foreclosure when a mortgage company notifies the borrower that they are in default on their loan. A short sale occurs when a homeowner puts the house up for sale at a smaller price than is owed on the mortgage. The auction is designed to help a lender make some money quickly to help take care of the default.

article thumbnail

131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Assumable mortgage. Acceleration clause.

article thumbnail

How do Foreclosure Auctions Work? How to Find Properties, Research, and Bid

HomeLight

John Durham is a successful real estate agent in Henry County, Georgia, and has purchased homes at auction for 16 out of 20 years of his career as a real estate agent. The purpose of the foreclosure auction is to recoup money for missed mortgage payments or tax liens. Where can you find foreclosure auctions?