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Bipartisan congressional caucus calls on FHFA to halt title waiver program

Housing Wire

The Bipartisan Congressional Real Estate Caucus is calling on the Federal Housing Finance Agency (FHFA) to cease its pilot program for title insurance waivers until the program is vetted and the agency seeks public input on it. The caucus expressed this view in a letter written by Reps. Lou Correa (D-Calif.), Mark Alford (R-Mo.),

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Are Closing Costs Tax Deductible When Selling a House?

HomeLight

In this post, we explore the question: Are closing costs tax deductible? What are examples of seller closing costs? When selling a home, you’ll encounter various closing costs as part of the process. On average, sellers pay between 2% and 5% of a home’s sale price in closing costs.

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Title insurers reckon with attorney opinion letters

Housing Wire

Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for. This is a top priority for ALTA.”.

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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.

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Opinion: Improving housing affordability without exposing homebuyers to more risk

Housing Wire

For example, recently, Fannie Mae has focused on expanding alternatives to title insurance as a way to supposedly increase homeownership affordability. However, Fannie Mae’s own research from 2022 found that title insurance is not a significant component of the overall closing costs when buying a home.

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The title insurance industry prepares for battle

Housing Wire

That compares with $101 billion in HELOC volume and $38 billion in closed-end home-equity originations over the same period this year, according to a recent report by the Urban Institute’s Housing Finance Policy Center. “I Currently, I would say the majority of our volume is some type of HELOC product.”.

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Georgia Sellers: Here’s a Round Up of Your Closing Costs

HomeLight

Whether you’re selling a modern condo in Atlanta’s Midtown or a century-old property in Savannah’s Historic District, you need to know the closing costs sellers are responsible for in Georgia. The Georgia Association of Realtors reports that closing costs in Georgia typically range 5% to 10% of the home’s sale price.