Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Industrial 448

Industrial MLS FHA loan Agents 448

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 370

Industrial Title Lending Technology 370

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. Potter added: “Government lending would come to a halt. points from the 7.5%

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

DECEMBER 14, 2023

The government sponsored entities is part of its Equitable Housing Finance Plans , which are required by their regulator Federal Housing Finance Agency (FHFA). The initial version of the GSE’s Equitable Housing Finance Plans were approved in the summer of 2022 by the FHFA.

Title 465

Title Land Finance Loans 465

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.” Intergenerational wealth refers to the financial assets passed by one generation of a family to another.

Mortgages 459

Mortgages Finance Closing costs Loans 459

Housing Wire

AUGUST 14, 2023

The pilot program was said to have been a component of the government sponsored entities’ (GSEs) Equitable Housing Finance Plans , which are required by their regulator Federal Housing Finance Agency (FHFA). The initial version of the GSE’s Equitable Housing Finance Plans were approved in the summer of 2022 by the FHFA.

Title 370

Title Closing costs Finance Land 370

Housing Wire

MARCH 28, 2023

Those looking to buy a home can earn 5% back by using the Rocket Visa Signature Card for up to $8,000 that can be used toward closing costs and down payments. In turn, homebuyers can use points to get discounts on their closing costs in the future.

Closing costs 435

Closing costs Finance Principal Mortgages 435

Housing Wire

AUGUST 19, 2024

Since the 1940s, the DOJ has repeatedly sued the industry to introduce more price competition. Today, price competition has a chance because of their efforts and class action litigation, culminating in a jury decision against the industry. New industry rules prohibit mandatory offers of compensation through multiple listing services.

Purchase and sale agreement 459

Purchase and sale agreement Finance Industrial Agents 459

Housing Wire

JULY 12, 2023

The lender said qualified buyers will receive up to $10,000 toward their downpayment/closing costs with BorrowSmart Geo-Target, or $5,000 toward their downpayment/closing costs and up to $1,000 toward home warranty and appraisal costs with the HomeReady SPCP.

Closing costs 370

Closing costs Finance Lending Development 370

Housing Wire

SEPTEMBER 9, 2024

The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. We’re also looking at identifying ways to jumpstart competition in certain closing cost categories, which can also help spur more activity.

Mortgages 476

Mortgages Closing costs Title Technology 476

Housing Wire

MAY 5, 2023

announced on Thursday that the Optimal Blue product, pricing and eligibility engine (PPE) has added investor content from 54 state-based housing finance agencies (HFAs). HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments.

Investor 397

Investor Finance MLS Closing costs 397

Housing Wire

SEPTEMBER 10, 2022

The SPCP, called “closing the gap,” permits a 1% down payment with a free appraisal, free home warranty program, free homebuying counseling and financial assistance with closing costs. and has worked in the mortgage industry for over 50 years.

Loans 448

Loans Closing costs Development Finance 448

Housing Wire

JUNE 21, 2024

The Montana Board of Housing is aiming to remind the state’s seniors about a government-administered program that is specifically designed to help older adults access their home’s equity — and it should be very familiar to members of the reverse mortgage industry. The Montana Board of Housing is the only entity to provide this service.”

Mortgages 397

Mortgages Equity Finance Closing costs 397

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. If you know a rising star who is under 40 and making an impact — and it could even be you! nominate them today !

Closing costs 367

Closing costs Finance Development Loans 367

Housing Wire

OCTOBER 13, 2022

Daniel Wold, ALTA’s president, added: “We will continue speaking out against alternatives to title, which pose an even greater risk to the housing finance system.”. One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers. “One “This is a top priority for ALTA.”.

Title 415

Title Closing costs Title search Closing 415

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. Manufactured homes are built at indoor homebuilding facilities and then delivered to the land chosen by the owner.

Loans 418

Loans Mortgages Land Finance 418

Housing Wire

JULY 4, 2024

Current market challenges The real estate market is currently characterized by a complex interplay of factors: Interest Rate Volatility: Fluctuating interest rates have made it difficult for potential buyers to predict the cost of financing a home. However, this doesn’t mean the dream is out of reach.

Pre-qualification 476

Pre-qualification Pre-approval Seller concession Finance 476

Housing Wire

JULY 2, 2024

Finance of America (FOA) added 4.1% Purchase is one we’re watching closely with the recently implemented tweak to closing costs that we expect to open that door more fully. As FOA and Mutual of Omaha continue to battle for reverse mortgage industry supremacy, Lunde and RMI will be watching closely, he said. “I

Mortgages 434

Mortgages Equity Loans Loan Officer 434

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. REALITY: Sometimes people need to finance multiple properties at once, as in the case of active-duty military personnel who receive transfer orders.

VA loan 468

VA loan Loans Mortgages Lending 468

Housing Wire

AUGUST 10, 2023

Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Mortgage , and/or Closing Cost Credit.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

NOVEMBER 6, 2024

The mortgage industry is now bracing for additional hikes from the credit reporting bureaus and other companies downstream of FICO. “At Wehmann added that, after the change, “FICO’s share will remain only approximately two-tenths of one percent” of the total average closing costs of $6,000. ” “At $4.95

Closing costs 418

Closing costs Mortgages Industrial Lending 418

Housing Wire

DECEMBER 4, 2023

There are multiple lawsuits challenging the prevailing structure of real estate agent commissions, and, as a result, there is no shortage of industry conversation on the topic. While the minimum down payment for FTHB on conventional financing stands at 3%, bearing agent commissions would effectively double this threshold in many instances.

Mortgages 468

Mortgages Closing costs Agents Finance 468

Housing Wire

MAY 25, 2023

Longbridge Financial, LLC, (NMLS #957935) believes that the answer to this dilemma is the HECM/Reverse for Purchase financing option. If the industry were better educated on this option, there would be a significant increase in HECM/Reverse Purchase volume. There is an incredible opportunity for growth,” he said.

Loan Officer 418

Loan Officer Equity Finance Loans 418

Housing Wire

SEPTEMBER 6, 2024

For more than two years, a storm has been brewing in the title insurance industry. 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. or divest real estate agents from their ownership interests.

Title 459

Title Industrial Agents Closing costs 459

Housing Wire

APRIL 11, 2022

Fannie Mae has identified closing costs as a barrier to homeownership,” Jim Albertelli, the CEO of Voxtur said in a statement. Fannie Mae did not return a request for comment. This is not the first time a firm has attempted to create an alternative to title insurance.

Title 435

Title Closing costs Loans Closing 435

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 467

Title Title search Industrial Closing costs 467

Housing Wire

MAY 9, 2022

It specializes in low-rate mortgage refinances, in which it originates a loan with no closing costs, including appraisal, credit report, escrow and title. according to Inside Mortgage Finance (IMF). Owning’s platform processed more than $20 billion in total loan volume in 2020. Guaranteed Rate is ranked No.

Lending 418

Lending Closing costs Title Mortgages 418

Housing Wire

NOVEMBER 21, 2022

The housing industry is at an unprecedented moment in time. Comprehensive property data enables unique insights that help lenders to be more efficient in serving their customers and helps tackle the thorniest contemporary public policy challenges plaguing our industry. trillion in mortgage origination volume in 2022.

Finance 397

Finance Design Equity Construction 397

Housing Wire

SEPTEMBER 19, 2024

While the report is another disappointing one for the real estate industry, there’s good news. Higher inventory levels and lower mortgage rates should provide better conditions for the market in the fall, helping both buyers and sellers who’ve been waiting on lower borrowing costs and the end of the election cycle.

Sales 459

Sales Closing costs MLS Inspection 459

Housing Wire

DECEMBER 18, 2023

In her first national interview since a Missouri jury found the real estate industry liable for colluding to artificially inflate real estate agent commissions, National Association of Realtors (NAR) president Tracy Kaspe r said the trade group would continue to advocate for what it feels is best for consumers. “We

MLS 488

MLS Loans Closing costs Industrial 488

Housing Wire

OCTOBER 21, 2021

The resources help families with 80% or less of the area median income for down payments or closing costs, for example. “For all of us that have been in this industry for quite some time, we’ve been looking for ways to advance racial equity in homeownership,” Bazemore said.

Banks 370

Banks Loans Equity Finance 370

Housing Wire

MARCH 21, 2024

per FICO score, and that constitutes less than two-tenths of 1% of the average closing costs of $6,000 per mortgage and is 15% or less of the average cost of a $70 tri-merge credit report.” Changes in credit report costs may result in lawsuits against the company.

Mortgages 476

Mortgages Purchase and sale agreement Closing costs Investor 476

Housing Wire

FEBRUARY 14, 2024

Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies. This model is still expensive for homeowners because they are paying duplicate closing costs and leaseback fees. HW: How does Calque help facilitate industry partnerships?

Backup offer 448

Backup offer Loan Officer Home sale contingency Branding 448

Housing Wire

JUNE 13, 2022

From Multiple Listing Services (MLS) to consumer-facing giants like Zillow , Realtor.com and Redfin , the real estate industry is raising awareness about homebuyer assistance programs through agent education and self-service tools that help consumers find programs they qualify for. their lenders) if homebuyer assistance is right for them.

Finance 370

Finance Loans Closing Closing costs 370

Housing Wire

JUNE 8, 2022

The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

Equity 370

Equity Finance Loans Development 370

RIS Media

MAY 19, 2021

It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home. Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs.

Closing costs 116

Closing costs Closing VA loan Pre-approval 116

Housing Wire

APRIL 18, 2023

While this industry has a significant dearth of accurate and deep data — at least at the public level — the Federal Reserve’s Consumer Compliance Outlook found in 2020 that inaccurate closing cost details and cash to close calculations were one of most common lender TRID violations. These can, and do, add up.

Mortgages 370

Mortgages Technology Closing costs Title 370