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CFPB director open to changing mortgage regs to fix refi process

Housing Wire

“We really think closing costs can be a significant obstacle to refinancing,” Chopra said at an AI and technology conference jointly hosted by ICE Mortgage Technology and the National Housing Conference at the New York Stock Exchange on Monday. At least when it comes to redundancies with refinancings, that is.

Mortgages 476
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Tavant adds automated asset analysis product to its lending platform

Housing Wire

The goal of Asset Analysis is to automate the labor-intensive process of reviewing assets and multiple bank statements during underwriting to determine the likelihood that the borrower will have sufficient funds to cover down payments, closing costs, and reserves for the mortgage transaction.

Lending 396
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Demystifying home appraisals

Housing Wire

There are three stages that agents and their clients need to be aware of. Stage 1: Preparing for the home appraisal First, if you represent buyers making an offer on a home, it’s vital to include an appraisal contingency in the offer. This stage is critical. How does the home appraisal process work?

Staging 397
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How non-QM lender A&D Mortgage grew origination volume in 2022

Housing Wire

A&D is also in the final stages of its non-QM automated underwriting system, which will be distributed to broker partners in the coming months. bps toward closing costs at the time of the closing. “We Last year was not easy for non-QMs as the Federal Reserve tightened its monetary policy.

Mortgages 418
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Credit reports will be at least 20% more expensive in 2025, frustrated mortgage execs say

Housing Wire

“FICO set the stage for the pricing increase with their 40% increase this year. ” At Tennessee-based First Community Mortgage , which operates with about 200 registered loan officers across 38 active branches, credit reporting costs are projected to increase by 22% in 2025. ” Metz said.

Mortgages 435
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From consultation to closing: The definitive homebuying checklist

Housing Wire

This typically includes: Recent pay stubs Last two years tax returns Recent bank statements Proof of any additional income or assets Discuss the budget Once you have the mortgage pre-approval, have an open conversation about your client’s financial situation. Set the stage: Educate your clients on the market This is your time to shine!

Closing 248
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What do the D.C. attorney general’s actions mean for the future of title joint ventures?

Housing Wire

Opposing viewpoints Typically, when kickbacks are discussed in the real estate industry, the Real Estate Settlement Procedures Act (RESPA) takes center stage, but that was not the case in D.C. Department of Insurance, Securities and Banking , many in the title industry are frustrated by Schwalb’s actions. Unlike RESPA, the D.C.

Title 459