Housing Wire

DECEMBER 11, 2020

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. Are borrower-assisted inspections here to stay? The issue of appraisers needing to inspect homes as part of the mortgage process became a concern as the virus continued to spread throughout the nation.

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Housing Wire

SEPTEMBER 9, 2021

From hybrid appraisals to virtual showings to RON/RIN, the digital mortgage process took center stage over the last year. From ordering food to buying goods to managing their finances, consumers can do it all from the palm of their hand, without ever having to leave their house. Why should the mortgage process be any different?

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Realty Biz

OCTOBER 19, 2022

The home inspection is part of the process that can lead to problems, but what does a home inspector do? The home inspection is the buyer's opportunity to get a professional opinion on the home's condition. If you are unsure about what does a home inspection cover, we take a look so that you are better informed. Others do not.

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Keller Williams

AUGUST 17, 2022

Loralynne Ball, head of retail sales for Keller Mortgage, has an even sunnier assessment. Though mortgage rates are rising from the incredible lows we experienced last year, they’re still not at all what we’d consider high. Now is still a great time to get home financing.”. Connect with a Keller Mortgage Loan Officer.

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CT Homes

JANUARY 1, 2023

If your buyer’s financing fell through at the last moment, it’s likely due to an obstable encountered along the way, but by anticipating those fallbacks, you can hopefully identify a solution. In this post, we’ll cover the main contingencies lender-financed offers typically have and the main drawbacks of such offers. 5 Common Reasons.

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Housing Wire

JANUARY 19, 2022

The mortgage industry has been awaiting the official start date for desktop appraisals since Federal Housing Finance Agency Acting Director Sandra Thompson announced plans to allow them at an industry conference in October. Mortgage lenders have also tried to find ways to speed the appraisal process.

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Realty Biz

MARCH 28, 2023

VA appraisals and VA inspections are often confused, but they are different. A VA appraisal is similar in some ways to the appraisal with a conventional mortgage, but they do more to protect buyers. There are VA loan inspection requirements for appraisals that buyers, sellers, and real estate agents should know.

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Housing Wire

NOVEMBER 2, 2020

First, Federal Reserve actions loading taxpayers with debt that now exceeds total GDP, which drove mortgage rates to historic lows. In short, they are getting the best credit quality borrowers in the mortgage market with confirmed fresh credit data. Second, agency MBS is one of two Triple-A rated instruments in housing on this earth.

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Housing Wire

DECEMBER 21, 2020

The moratorium directs mortgage servicers to halt all new foreclosure actions and suspend all foreclosure actions currently in progress, excluding legally vacant or abandoned properties. Low mortgage rates fuel the demand for valuation and settlement services. Presented by: VRM Mortgage Services. 28, 2022.

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Housing Wire

JUNE 7, 2022

Few other industries must deal with the level of complexity of home finance. From mortgage origination to servicing, companies are constantly grappling with high volume and stringent regulatory oversight while managing a large cohort of vendor partners. We’re seeing mortgage executives and workers retiring at record rates.

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Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Mortgage origination platform Maxwell , which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. The past year hasn’t been particularly good for tech or housing. The company was No.

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Housing Wire

MARCH 22, 2021

And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%. Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021.

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Housing Wire

APRIL 4, 2024

While they have endured a rocky, rates-driven cycle, marketers in mortgage and real estate continue to play a pivotal role in lead generation, customer acquisition and retention differentiation that has helped to keep many organizations stay afloat. HousingWire: Milestones was recognized as a 2024 Tech100 Mortgage honoree.

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CT Homes

JULY 6, 2020

In this post, we’ll cover the main contingencies lender-financed offers typically have, and what the main drawbacks of such offers are. The most common contingency issue when dealing with “financed” buyers is getting final mortgage approval with the buyer’s lender. Financing Obstacles.

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Housing Wire

DECEMBER 20, 2022

Department of Veterans Affairs (VA) mortgage loans. Mike Bost of Illinois and sponsored in the Senate by Alaska Republican Dan Sullivan, should make veterans more competitive homebuyers, the Mortgage Bankers Association (MBA) said. Senate this week passed a bill that streamlines the appraisal process for U.S.

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Realtor.com

JANUARY 9, 2023

Nonetheless, getting a good mortgage proved to be much harder than he’d anticipated. “We struggled to get a good mortgage,” Shirshikov admits. “We could not get a mortgage with a decent rate.” “We spoke to the owner about owner financing,” Shirshikov says. Dennis Shirshikov.

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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. Currently, the appraisal process is the biggest issue facing the mortgage industry,” the mid-sized lender said. “It

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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.

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Housing Wire

APRIL 25, 2024

Agents say they are also seeing a lot of appraisal gap clauses , inspection waivers and free leasebacks popping up in offers as buyers look to improve their chance of winning a house in the current market. In addition to keeping prospective home sellers in their houses longer, higher mortgage rates are also taking a toll on buyers.

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Housing Wire

JUNE 10, 2022

Nonbank mortgage lender and servicer Ocwen Financial Corp. and its subsidiary PHH Mortgage agreed to pay more than $665,000 to settle multiple lawsuits filed last year by three cities in New York state regarding the maintenance of zombie properties. billion, according to Inside Mortgage Finance. In 2019, then-Gov.

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Realtor.com

FEBRUARY 5, 2021

But before the sale is closed, you will need to clear several hurdles, one of which may be a termite inspection. While only a few states require it—and there is no federal law that mandates a termite inspection when buying a home—you might want to think twice before skipping it. Your lender may require it.

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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.

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Inspection Technology Loans Mortgages 434

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). Presented by: Auction.com.

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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.

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HomeLight

JANUARY 14, 2022

As you run down the list of steps from appraisals to final walkthroughs, you may find yourself focusing on one item in particular: the home inspection. About 95% of purchased homes go through an inspection, and it’s a requirement for many mortgage loans — so it’s certainly an important part of the process. Attic spaces.

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Housing Wire

FEBRUARY 14, 2022

The Federal Housing Finance Agency (FHFA), in its new strategic plan, indicated it is heading in a different direction than under the Trump administration. Under FHFA Acting Director Sandra Thompson, affordability, and expanding credit to those who are not well-served by the current mortgage market, is now a top strategic goal.

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HomeLight

JANUARY 31, 2024

Contingencies are designed to protect both parties involved, allowing the buyer to back out of the purchase without penalty under specific circumstances, such as issues discovered during a home inspection or difficulties obtaining financing. The most extended periods typically relate to mortgage and home sale contingencies.

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Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on Jan. 28, 2021. .”

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Lending Loans Inspection Finance 540

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.

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Housing Wire

AUGUST 3, 2023

Aerial drone inspection of Lennar’s Westview housing development Miami, Florida. In a recent earnings call, Sheryl Palmer, chairman and CEO of national homebuilder Taylor Morrison , said about two-thirds of homeowners now have mortgage interest rates below 4%. Taken by Felix Mizioznikov. We need to build above 1.1

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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.

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Housing Wire

MARCH 1, 2023

Change in uninsured losses As of late, however, the uninsured losses are being absorbed by other stakeholders in the housing finance system, including mortgage lenders, mortgage servicers, private mortgage insurers, government agencies, capital markets investors, and the government-sponsored enterprises.

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Housing Wire

MARCH 22, 2024

Before meeting with a mortgage lender, buyers should have a clear picture of their finances. There’s nothing more frustrating for agents or buyers than dealing with a 1-800 number when there’s a financing issue and the commitment date is looming. Do not skip the inspection. Meet with a financial advisor.

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Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

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Realty Biz

JANUARY 19, 2024

Interviewing and selecting a buyer's agent and choosing a mortgage lender and real estate attorney are vital steps. Let's start with some detailed information and actionable tips on financing. It's crucial to clearly understand your financial health before getting a mortgage. Let's get started on your path to homeownership.

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Realty Biz

MARCH 13, 2024

While rising prices and mortgage rates present challenges, it’s still possible to find your dream home with the right strategy. Getting Pre-Approved For A Mortgage In a seller’s market like Maryland, getting pre-approved for a mortgage loan should be one of the first steps for hopeful buyers.

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Housing Wire

JANUARY 13, 2021

United Wholesale Mortgage ( UWM ) unveiled a new policy this week, telling brokers that appraisals will be completed within 10 business days or they’ll refund 50% of the appraisal cost back to the customer. It’s also offering ultra-low rate mortgages on FHA loans. Are borrower-assisted inspections here to stay?

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