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Fannie Mae title pilot could save homeowners up to $1,692 per refi

Housing Wire

The Federal Housing Finance Agency had previously estimated that the pilot could save consumers between $500 and $1,500 per transaction. According to the release, Nigrinis and Zywicki analyzed how much widespread use of automated title risk assessments would lower consumer costs, promote greater transparency and increase industry competition.

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FinLocker says it will cover 100% of mortgage verification costs

Housing Wire

Self-branded “financial fitness” platform FinLocker announced Wednesday that it will cover 100% of the verification costs for mortgage borrowers who use lenders’ FinLocker-powered apps. The company calls the move an “industry-first initiative.” ” . ”

Mortgages 326
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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? 1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade.

Finance 482
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Opinion: The myth of financing buyer agent commissions

Housing Wire

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. To avoid this, you’d need additional rule changes.

Finance 448
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Closing costs are up, but there’s a catch

Housing Wire

The average closing costs for a single-family home increased 12.3% According to ClosingCorp, the average closing costs nationally came in at $6,837 including taxes and $3,836 excluding taxes. According to ClosingCorp, the average closing costs nationally came in at $6,837 including taxes and $3,836 excluding taxes.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

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Opinion: How the title industry protects homeowners

Housing Wire

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders. As an industry, our commitment to protection goes beyond title insurance policies. As an industry, we united against these unfair fee agreements.

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