Housing Wire

DECEMBER 27, 2024

The new rules apply to both appraisal waivers and inspection-based waivers , which leverage property data collected by a trained and vetted professional. The new rules apply to both appraisal waivers and inspection-based waivers , which leverage property data collected by a trained and vetted professional.

Inspection 384

Inspection Loans Lending As-is 384

Housing Wire

FEBRUARY 19, 2025

Clarify key steps like inspections, appraisals, and the importance of meeting deadlines and any impacts of missing them. Walk your client through all the pieces of their offer, including price, inspection timelines, closing dates, contingencies and any due diligence or earnest money deposits.

Closing 307

Closing Earnest money deposit Due diligence Pre-approval 307

Redfin

MAY 22, 2025

Among the most important are understanding the roles of a home appraisal vs. inspection. Home appraisal vs. home inspection: What’s the difference? While both appraisals and inspections happen during escrow and involve evaluating a property, their purposes and focuses are fundamentally different.

Inspection 59

Inspection Purchase and sale agreement Finance Closing 59

Housing Wire

DECEMBER 11, 2020

Earlier this year, citing the extraordinary circumstances that the country is facing with the ongoing spread of the coronavirus, the Federal Housing Finance Agency directed the government-sponsored enterprises to ease their standards for both property appraisals and verification of employment. Are borrower-assisted inspections here to stay?

Lending 540

Lending Inspection Mortgages Finance 540

Housing Wire

NOVEMBER 4, 2024

In writing both offers, Angela and I made sure to fully disclose how I was expecting her to get paid , as well as all of my requests, including a home inspection contingency clause. I grew up in an 1850s farmhouse and was not going to skip an inspection or an appraisal contingency.

Purchase and sale agreement 410

Purchase and sale agreement Inspection contingency Inspection Title 410

Housing Wire

SEPTEMBER 5, 2024

The report calls on more states and cities to pass “source of income” or “source of financing” anti-discrimination statutes and enforce them to protect homebuyers. The CFA also called on real estate associations to better educate agents on sources of financing discrimination and how to successfully work with FHA buyers.

FHA loan 450

FHA loan Debt-to-income ratio Inspection Finance 450

Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021.

Lending 485

Lending Inspection Loans Finance 485

Housing Wire

AUGUST 13, 2024

Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. Homebuyers shouldn’t receive different levels of protection just because of the type of financing they use to purchase their homes. To compare, during the Great Recession, the foreclosure rate was 15.6%

Mortgages 456

Mortgages Land Lending Finance 456

Housing Wire

DECEMBER 24, 2020

Porch, a home services marketplace with partners in insurance, utilities, home inspection and moving, plans to use the cash to pursue acquisitions to seize the opportunity in real estate. acquisitions, divestitures and financings) of the Company.” They’ll also focus on the home insurance industry.

Inspection 405

Inspection Finance Industrial Design 405

Housing Wire

APRIL 2, 2024

Through NAF Cash, the lender purchases the buyer’s chosen home upfront with cash while the buyer can rent the new home while working on selling the old home or securing financing on the new one. NAF, the 31st largest mortgage lender in America in 2023, according to Inside Mortgage Finance, has been in growth mode.

Loan Officer 418

Loan Officer Loans Finance Mortgages 418

Housing Wire

OCTOBER 28, 2024

The Federal Housing Finance Agency has expanded the eligibility for alternative appraisal methods on purchase loans by increasing the maximum loan-to-value (LTV) requirement. The announcement was made on Monday during the Mortgage Bankers Association (MBA) Annual Convention & Expo in Denver, Colorado.

Inspection 432

Inspection Staging Loans Finance 432

Housing Wire

JULY 26, 2024

Whether you’re a year away from selling or hoping to close in a few months, a timeline is important for all parties, especially if your family member needs to sell an existing home, secure financing, and arrange moving details. Discuss financing. Does your buyer need to secure a mortgage ? Are they buying with cash?

Purchase and sale agreement 430

Purchase and sale agreement Finance Closing costs Closing 430

Housing Wire

JUNE 23, 2022

In order to continue protecting the healthy functioning of the housing finance market as the impact of COVID-19 lingers, issuers still need these prudent flexibilities to help manage persistent operational challenges,” said Alanna McCargo, president of Ginnie Mae, in a statement. 30, 2022.

Inspection 420

Inspection Finance Development Loans 420

Housing Wire

JUNE 21, 2022

Selling a home typically involves nearly 10% in transaction fees between real estate agents , title companies, inspections, and other expenses. Instead, we prefer a “certified” pre-owned car that has gone through a multi-point inspection with all of the preventative maintenance up to date. There’s an even more subtle consideration.

Investor 410

Investor FHA loan Inspection Renovation 410

Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. In March 2022 , the Federal Housing Finance Agency (FHFA) made hybrid appraisals a permanent fixture.

Lending 485

Lending Loans Inspection Industrial 485

Housing Wire

NOVEMBER 30, 2023

Also, in the limited program, the FHA proposes that consultant fees be included in the financed mortgage, as it is permissible in the standard version. Changes also include increases to the maximum amount for other allowable fees, including for draw inspection, which is $375. In high-cost areas, however, it can go up to $75,000.

Inspection 450

Inspection Renovation Finance Loans 450

Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

Equity 366

Equity Inspection Lending Finance 366

Housing Wire

MAY 12, 2021

Still, I’m encouraged to see companies using digital tools and platforms — or creating their own — to take little bites out of a gigantic industry, from streamlining financing and inspections, to centralizing communication, to optimizing budgets and reducing project delays. Creating transparency. Automating for efficiency.

Construction 458

Construction Technology Inspection Industrial 458

Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

Marketing 534

Marketing Option period Lending Loan Officer 534

Housing Wire

JANUARY 27, 2023

Rent hike protections Nearly one-third of all rental units nationwide are financed with federally backed mortgages — and the blueprint may help curb some of the steep rent price increases for these properties. Fannie Mae provided more than $69 billion in debt financing to support the multifamily market last year.

Finance 410

Finance Development Inspection Mortgages 410

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs).

FHA loan 366

FHA loan Renovation Equity Loans 366

Housing Wire

JANUARY 13, 2021

Are borrower-assisted inspections here to stay? The Federal Housing Finance Agency is currently considering implementing hybrid appraisals that enlist a third-party – typically an appraiser trainee, home inspector or real estate agent – to collect the data for a lender and certified appraiser once past the automated underwriting system.

FHA loan 410

FHA loan Inspection Loans Mortgages 410

Housing Wire

JUNE 22, 2023

In the letter , addressed to FHFA Director Sandra Thompson , the associations ask for “reasonable” building inspection requirements for aging infrastructure. The groups also offer feedback on how the Fannie Mae and Freddie Mac temporary requirements for condos and cooperative projects could be improved.

Lending 370

Lending Inspection Development Loans 370

Housing Wire

JULY 6, 2023

Fannie Mae’s guidance comes as an update to its Selling Guide in consultation with the Federal Housing Finance Agency (FHFA). The update will prohibit the sale of condo units or co-op shares in projects with unfunded repairs totaling more than $10,000 per unit.

Inspection 370

Inspection Finance Sales As-is 370

Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

Inspection 410

Inspection Technology Loans Mortgages 410

Housing Wire

DECEMBER 8, 2020

Since our Series A financing earlier this year, Sundae’s marketplace has seen record growth,” Josh Stech, Sundae cofounder and CEO said in a statement. If the seller accepts the offer and an inspection is completed, Sundae offers a $10,000 cash advance prior to closing to help homeowners with moving costs and other expenses.

Investor 384

Investor Closing costs Inspection Closing 384

Housing Wire

JUNE 10, 2022

In 2016, New York passed a law establishing that lenders and servicers must inspect, secure and maintain zombie properties — which are defined as vacant and abandoned homes whose owners are behind on their mortgage payments. . billion, according to Inside Mortgage Finance. In 2019, then-Gov. The company also is No.

Mortgages 420

Mortgages Inspection Residential Banks 420

Housing Wire

NOVEMBER 1, 2024

That can include being a housing market expert and advising clients on the best times to list or buy a home; having referrals handy for inspections, repairs, staging and photography; understanding the mortgage origination process; and more. This course covers real estate law, contracts, finance and ethics.

Agents 421

Agents Brokerage Purchase and sale agreement Commercial 421

Housing Wire

OCTOBER 1, 2020

. “Clients don’t think of buying a home as multiple things, they don’t think, ‘Well I’ve got to get a mortgage, I’ve got to get title, I’ve got to get an appraisal, I’ve got to find a real estate agent, I’ve got to get an inspection,'” said Farner.

Pre-approval 432

Pre-approval Mortgages Inspection Title 432

Housing Wire

MAY 14, 2025

It includes different responsibilities than just being an agent; you are in charge of hiring, managing brokerage finances, training, overseeing deals, networking and building a positive business reputation. Similar to an MLO, a mortgage broker finds financing for buyers.

Property Management 214

Property Management Brokerage Agents Design 214

Keeping Current Matters

NOVEMBER 30, 2020

Understand Your Finances. Freddie Mac explains: “ Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”.

Inspection contingency 343

Inspection contingency Pre-approval Inspection Staging 343

Keeping Current Matters

MARCH 15, 2021

Understand Your Finances. Freddie Mac explains that there are, however, certain contingencies you don’t want to forego: “ Resist the temptation to waive the inspection contingency , especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Bottom Line.

Inspection contingency 337

Inspection contingency Pre-approval Inspection Staging 337

Housing Wire

AUGUST 21, 2023

Year Founded Description 98 OptiFunder 4,767% 2018 Finance company helping independent mortgage lenders choose among funding options and streamline the process. 497 BOSSCAT 1,175% 2018 Digitizing home inspection data to create instant repair estimates for homeowners and real estate professionals. 4,105 FirstCloseFirstclose.

Equity 370

Equity Technology Investor Residential 370

Housing Wire

MARCH 7, 2022

The biggest reason home sales take almost two months to complete, Gottheim of the title trade group noted, is property inspection and mortgage underwriting. A homebuyer closely inspecting their property before closing also does not strike most observers as a waste of time. Propy said it is not against the home inspection process.

Sales 485

Sales Title Purchase and sale agreement Inspection 485

Housing Wire

OCTOBER 26, 2020

With shared values that drive team member success and a vast portfolio of solutions across every step of the home-buying and financing process, Xome is uniquely positioned to help partners tackle the unforeseen challenges of this year. In these situations, Inspex can be paired with an appraiser-completed exterior inspection.

Technology 384

Technology Inspection Title Loans 384

Housing Wire

NOVEMBER 27, 2023

Veev’s business model is innovative: it provides pre-inspected, fully cladded walls directly to homebuilders , ready for installation. Additionally, Veev also stopped paying interest payments on some of its properties in California.

Bankruptcy 458

Bankruptcy Inspection Investor Staging 458

Housing Wire

SEPTEMBER 9, 2024

Like with the amount of earnest money deposit or including an inspection contingency, the amount the buyer is asking the seller to pay her agent is a term that impacts the strength of the offer,” Redfin chief economist Daryl Fairweather said in a statement.

Earnest money deposit 456

Earnest money deposit Inspection contingency Agents Marketing 456