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Compass’s title firm runs into trouble in Washington

Housing Wire

The state of Washington is set to revoke the license of Modus , a title and escrow service software company owned by Compass, effective April 1. The complaint points to six separate instances where Modus gave or offered to give non title-related services without charging or receiving a fee equal in value to the services provided.

Title 441
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ALTA on new Fannie policy: title insurance “will always be essential”

Housing Wire

Fannie Mae generated some buzz last week when it announced it would be accepting written attorney opinion letters in lieu of a title insurance policy “in limited circumstances.”. In an email, Fannie Mae confirmed that the impetus for this change was that the use of AOLs could potentially reduce title costs for borrowers.

Title 403
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Top lender UWM debuts a 89.99% LTV, cash-out refinance. Is it worth the risk? 

Housing Wire

United Wholesale Mortgage (UWM) has the mortgage industry abuzz over its latest product, a higher-risk, cash-out refinance at a time of economic uncertainty. That being said, they emphasize the volume and retain their title as the number one mortgage lender in the country.” Is the juice worth the squeeze? How much will borrowers pay?

Equity 430
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11 clever ways to use ChatGPT for real estate in 2025 (+ prompts)

Housing Wire

open-concept living area, renovated kitchen, hardwood floors, large fenced backyard, home office] Special amenities or upgrades: [e.g., Please also suggest a title for the full series and include recommended hashtags. I need you to generate a compelling, eye-catching title and subtitle that will grab attention and drive downloads.

Branding 437
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Fannie Mae expands use of AOLs in selling guide update

Housing Wire

In an update to its selling guide , Fannie Mae announced Wednesday that it was expanding the use of attorney opinion letters in lieu of title insurance. Fannie Mae first announced that it would accept loans secured with an AOL in lieu of title insurance in limited circumstance in April 2022.

Title 449
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reAlpha gets into the mortgage brokerage biz, acquires Be My Neighbor

Housing Wire

The Texas-based lender is licensed in 26 states and provides 15-year and 30-year fixed mortgages, including government loans, 203 (k) renovation loans and reverse mortgages. Be My Neighbor will continue to operate under its brand led by co-founders Christopher Griffith, Isabel Williams and Nathan Knottingham.

Brokerage 440
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Fannie Mae to increase LTV ratios for purchase, cash-out refi loans on multi-unit properties in DU

Housing Wire

These levels and their updates to 95% also apply equally to requirements for the standard, HomeReady and HomeStyle Renovation programs. Earlier this week, Fannie Mae released its October 2023 update to the Selling Guide aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy positions.

Loans 460