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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.

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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.

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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.

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

Housing Wire

By offering higher LTVs without charging mortgage insurance, UWM aims to attract more borrowers, including those who need to consolidate student and medical debt or renovate their homes, for example. That being said, they emphasize the volume and retain their title as the number one mortgage lender in the country.”

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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.

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Biden tax credit to rehab homes is finally unveiled

Housing Wire

How hybrid title and valuations help increase lending efficiency. Why use several vendors for title searches, appraisals and underwriting when you can use one? Investors who acquire and renovate older homes could claim the credit on their federal tax returns, as long as the home is sold to and occupied by an eligible buyer.

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Biden outlines housing proposals during State of the Union

Housing Wire

Then he spoke about a more controversial element to the housing plan announced earlier on Thursday: cutting the requirement for title insurance on some loans. And my administration is also eliminating title insurance on federally-backed mortgages,” he said. When you refinance your home, you can save $1,000 more as a consequence.”

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