Housing Wire

NOVEMBER 30, 2022

Each year, the TECH100 awards recognize the 200 most influential tech companies in mortgage and real estate that are working to improve the housing industry through tech innovation. The promises of technology have largely been lost in the mortgage industry and little has been done to reduce costs for homebuyers.”.

Industrial 330

Industrial Title Lending Technology 330

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

Closing costs 423

Closing costs Development Equity Mortgages 423

HomeLight

JULY 5, 2023

It’s no secret that the mortgage industry isn’t super transparent about closing costs. According to a February 2017 report from ClosingCorp, more than half of homebuyers surveyed were surprised by their closing costs. Think credit reports, application fees, loan origination fees, and broker fees.

Closing costs 88

Closing costs Closing Mortgages Loans 88

Housing Wire

MAY 1, 2024

This has led to the development of policies by state and local housing finance agencies to aim assistance specifically at this group, particularly for “mortgage eligibility or down payment and closing costs assistance.” Identification of a loan under these conditions is currently optional, the bulletin explained.

Mortgages 395

Mortgages Finance Closing costs Loans 395

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% points from the 7.5%

VA loan 443

VA loan Agents Seller concession FHA loan 443

Housing Wire

DECEMBER 14, 2023

The research found that title and settlement fees are neither regressive nor represent a significant component of the overall closing costs. Given the typical borrower is paying more than $7,000 in closing costs, that might be an understatement. In fact, neither is true. increase in fees).

Title 398

Title Closing costs Loans Title search 398

RIS Media

MAY 19, 2021

The loan process is a whole different process that can seem like a foreign language. Most buyers just want to know what fees and costs are associated with their new home purchase or refinance. Non-Recurring Costs Associated With the Lender. May vary widely between lenders and are not dependent on the cost of the loan.

Closing costs 115

Closing costs Closing VA loan Pre-approval 115

Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending.

FHA loan 304

FHA loan Loans Title Mortgages 304

Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending.

FHA loan 432

FHA loan Loans Title Mortgages 432

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. Certner cited fair lending concerns and the potential of undue borrower influence. They’re using it to help shape the process going forward.

Mortgages 325

Mortgages Closing costs Equity Construction 325

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. They own the home with their name on the title, as with any mortgage, traditional or reverse.

Finance 428

Finance Seller concession Loan Officer Loans 428

Housing Wire

DECEMBER 14, 2023

Under the new selling guidelines, Fannie Mae said it would allow AOLs to be used on “loans secured by a unit in a condo project” and “loans secured by a property subject to restrictive agreements or restrictive covenants.”

Title 343

Title Land Finance Loans 343

Housing Wire

AUGUST 10, 2023

The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Mortgage , and/or Closing Cost Credit. Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

AUGUST 14, 2023

Fannie Mae is no longer considering a pilot program that would bypass traditional title insurance by granting certain mortgage lenders a waiver on title insurance requirements for loans sold to Fannie, according to an announcement earlier this month.

Title 354

Title Closing costs Finance Land 354

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan.

Fixed-rate mortgage 374

Fixed-rate mortgage Loans Mortgages Loan Officer 374

Housing Wire

APRIL 26, 2023

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Strategies to differentiate themselves include buying leads, providing niche loans and getting on builders’ preferred lender list.

Loan Officer 389

Loan Officer Mortgages Loans Closing costs 389

Housing Wire

FEBRUARY 12, 2024

Furthermore, the average consumer is likely unaware of the variety of loan options available to them through the wholesale channel. This is why it’s more important than ever for independent mortgage brokers across the country to establish themselves as an expert and trusted advisor in the mortgage industry.

Mortgages 412

Mortgages Loans Closing costs Industrial 412

Housing Wire

MARCH 1, 2024

While mortgage rates will likely fall this year, conversations about how to increase accessibility to homeownership are still top of mind — and should be top of mind — across the real estate industry. Accounting for geography, differences in title and settlement costs across groups of borrowers were not “economically meaningful.”

Title 353

Title Title search Industrial Closing costs 353

Housing Wire

SEPTEMBER 15, 2023

Our way of honoring first responders is by educating our podcast listeners, readers and coaching clients in the real estate industry about how to help those who helped all of us and are still being of service every day. FHA mortgage programs The Federal Housing Administration (FHA) provides easy-to-qualify government insured loans.

VA loan 395

VA loan Loans Mortgages Closing costs 395

Housing Wire

MARCH 9, 2023

The title insurance industry is often bemoaned for being antiquated and making minimal changes, but that has not been the case for the past 12 months. The program would grant certain mortgage lenders a waiver on title insurance requirements for loans sold to Fannie Mae and will be rolled out this spring, according to Politico.

Title 393

Title Closing costs Finance Land 393

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. To top it off, buyers sometimes ask sellers to pitch in for their closing costs, too — another 2% to 3% of the sales price. Typical seller closing costs.

Closing costs 73

Closing costs Closing Seller concession Purchase and sale agreement 73

Housing Wire

NOVEMBER 3, 2023

Not available anywhere else in the industry today, consumers can gather inspiration on social media networks like Pinterest, upload photos of their dream home and homegeniusIQ, homegenius Real Estate’s proprietary technology, will instantly analyze the photos and present homes with similar features.

Closing costs 341

Closing costs Short sale Technology New Construction 341

Housing Wire

FEBRUARY 14, 2024

BBYS products enable homeowners to tap their current home equity to purchase the new home, meaning they can make larger down payments and reduce the cost of their loans. This model is still expensive for homeowners because they are paying duplicate closing costs and leaseback fees.

Backup offer 366

Backup offer Loan Officer Home sale contingency Branding 366

Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. While investor bonds were scarce, A&D securitized its loans and sold the bonds, leading to seven securitization deals in 2022. bps toward closing costs at the time of the closing. “We

Mortgages 389

Mortgages Investor Loans Banks 389

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. If you’re not dealing with the top producing agents or teams in the industry, you may find that your client has gone away.”

Agents 380

Agents Loan Officer Lending MLS 380

Housing Wire

DECEMBER 16, 2022

For most real estate industry professionals, title insurance needs no introduction. While other forms of insurance have seen rate increases in recent years, the average cost of title insurance coverage has decreased 7.8% nationally since 2004 and roughly 5% the past two years, based on the most recent industry data from 2021.

Title 464

Title Title search Closing costs Closing 464

Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. If the industry were better educated on this option, there would be a significant increase in HECM/Reverse Purchase volume.

Loan Officer 381

Loan Officer Equity Finance Loans 381

Housing Wire

FEBRUARY 8, 2022

Each year, HousingWire’s Rising Stars award spotlights 50 industry-changing young professionals in housing who have made their mark in the housing economy before their 40th birthdays. LodeStar Software Solutions CEO and Founder Jim Paolino founded the company at age 26. nominate them today !

Closing costs 280

Closing costs Finance Development Industrial 280

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4%

Mortgages 313

Mortgages Loan Officer Marketing Seller concession 313

Housing Wire

FEBRUARY 5, 2021

According to Guaranteed Rate, Owning’s direct-to-consumer platform processed over $20 billion in total loan volume in 2020. Last year, the mortgage firm also had two loan originators produce over $1 billion in mortgages: Ben Cohen and Shant Banosian. According to the NMLS, Owning has 62 loan officers and was formed in 2018.

Loan Officer 414

Loan Officer Loans Closing costs Title 414

Housing Wire

JUNE 30, 2021

Data analytics giant CoreLogic announced on Wednesday the acquisition of closing cost data and tech provider ClosingCorp. The closing data company also utilized CoreLogic’s home price data to release its first national refinance closing cost report in 2021, so there’s quite a bit of familiarity between the two firms.

Closing 357

Closing Closing costs Investor Title 357

Housing Wire

APRIL 18, 2023

But it still appears that the emphasis is on the big systems — with the focus on Point-of-Sale (POS) and Loan Origination System (LOS) technology especially. And yet, there are numerous smaller things in the established mortgage production process that add up to a huge opportunity to speed the transaction and reduce costs.

Mortgages 354

Mortgages Technology Closing costs Title 354

Housing Wire

APRIL 11, 2022

According to the announcement, lenders “must ensure the loan is covered by either a title policy issued by an acceptable insurer (including any required endorsements) or a title opinion letter issued by an attorney.”. Voxtur said that the product will be offered in select states before being rolled out nationwide.

Title 404

Title Closing costs Loans Closing 404

Housing Wire

DECEMBER 30, 2022

The FHFA and the GSEs are essential to painting the picture of today’s housing market and industry trends. The first is the overall business transformation that’s taking place in the mortgage industry. These are top of mind for my team, our clients and the industry. Because I am.

Lending 327

Lending Industrial Mortgages Loans 327

Housing Wire

OCTOBER 21, 2021

The nation’s network of Federal Home Loan Banks (FHLBanks ) expects to be required to increase its share of investments in affordable housing. The resources help families with 80% or less of the area median income for down payments or closing costs, for example. In May, Sen. Catherine Cortez Masto (D-NV) and Rep.

Banks 336

Banks Loans Equity Finance 336

Housing Wire

MAY 9, 2022

Owning’s platform processed more than $20 billion in total loan volume in 2020. It specializes in low-rate mortgage refinances, in which it originates a loan with no closing costs, including appraisal, credit report, escrow and title. Guaranteed Rate is ranked No. 7 among the biggest lenders in the U.S.,

Lending 375

Lending Closing costs Mortgages Title 375

Housing Wire

NOVEMBER 3, 2022

At a time when “housing affordability is at a 30-year low and weakening consumer sentiment is leading to a rapidly deteriorating home purchase market,” Jay Farner, CEO of Rocket Companies, said further consolidation is expected in the industry. Farner and other executives on the call didn’t speak much to the quarterly decline.

Principal 382

Principal Mortgages Closing costs Title 382