Housing Wire

MARCH 15, 2024

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. LOs on average get about 1%.)

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

MARCH 27, 2025

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

Mortgages Loan Officer Technology Loans 326

Housing Wire

MARCH 4, 2025

Every time a Texan buys a home, they will spend less on closing costs. The (property and casualty) industry in Texas has been even more caught in this bind. A reduction in title insurance basic premium rates would likely help bring the actual profit ratio closer to the target.

Title 393

Title Closing costs Land Sales 393

Housing Wire

MARCH 11, 2025

Tomo touts its use of artificial intelligence in streamlining loan underwriting and closing processes. It claims to save the typical homebuyer up to $4,000 in closing costs and offers interest rates that are 50 to 100 basis points lower than the industry average, according to a press release.

Closing 360

Closing Mortgages Investor Loan Officer 360

Housing Wire

DECEMBER 9, 2024

Although no person can truly predict mortgage rates for there are several factors involved; Industry forecasts predict interest rates will hover between 5.5% Save strategically: Even with down payment assistance, youll need some savings for earnest money and closing costs. and 6%, with potential dips below 6% by mid-year.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

Inman

FEBRUARY 4, 2025

Here's what that potentially means for the recent slate of rules and lawsuits targeting the mortgage industry. In his first act as interim Consumer Financial Protection Bureau director, Treasury Secretary Scott Bessent froze action on all rules and litigation.

Closing costs 133

Closing costs Closing Loans Mortgages 133

Housing Wire

MARCH 8, 2024

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings. Soham Bhonsle, an analyst at BTIG, shares a similar outlook.

Title 459

Title Industrial Land Closing costs 459

Housing Wire

FEBRUARY 10, 2025

These younger servicemen and women often face difficulties navigating the homebuying process, particularly around paying closing costs. As mortgage industry leaders, we must all do our part to make the process as clear and straightforward as possible.

Industrial 221

Industrial VA loan Lending Loans 221

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

DECEMBER 16, 2024

With the lawsuits, I saw a lot of leaders acting like there has never been any regulatory change to the industry or that there has never been upheaval or challenges that you cant control, Hanna said. of the loan amount) at settlement to use toward their closing costs.

Brokerage 370

Brokerage Agents Technology Industrial 370

Housing Wire

FEBRUARY 13, 2025

The reverse mortgage industry has aimed in recent years to position itself as a potential avenue to fund LTC directly or pay for LTC insurance. As far as potential cons, the publication cites criticism of HECMs for their high closing costs and interest rates that tend to hover 1% or more above traditional mortgages.

Mortgages 360

Mortgages Equity Loans Closing costs 360

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 27, 2024

Because not only are we an industry that values the bottom line, we serve the spirit behind the American Dream of homeownership. Saving for the down payment and closing costs takes time, sacrifice and determination. As an industry, we must ultimately consider the bottom line. But I don’t think that’s true.

Equity 397

Equity Mortgages Industrial Closing costs 397

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

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 488

Closing costs Development Equity Closing 488

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 447

Mortgages Closing costs Equity Construction 447

Housing Wire

JUNE 28, 2024

Unfortunately, the Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information (RFI) on mortgage closing costs—including title insurance—that continues a concerning pattern of labeling legitimate, well-regulated, and transparently disclosed costs and services as “junk fees.”

Title 397

Title Closing costs Closing Industrial 397

HomeLight

JANUARY 31, 2025

When youre preparing to sell or buy a home, the phrase closing costs will be spoken (and written) on both sides of the transaction table. But what are closing costs? Understanding these costs upfront can help you budget properly and avoid surprises. Get Started What are closing costs?

Closing costs 104

Closing costs Closing Title Seller concession 104

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

AUGUST 14, 2023

One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers. Based on those plans, both GSEs are pushing pilot programs promoting the use of attorney opinion letters, reportedly as an alternative to reduce closing costs.”

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

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 459

Title Closing costs Loans Title search 459

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 397

Closing Closing costs Investor Title 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

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

DECEMBER 14, 2023

Tomb also noted that ALTA was troubled by the fact that Fannie Mae’s announcement came without any discussion with the title insurance industry. In an emailed statement, a Fannie Mae spokesperson wrote that the GSE is continuing to explore ways to improve housing affordability by reducing closing costs.

Title 466

Title Land Finance Loans 466

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 493

Title Title search Closing costs Land 493

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.”

Mortgages 459

Mortgages Finance Loans Closing costs 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

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 435

Closing costs Short sale Technology New Construction 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

OCTOBER 17, 2024

of a typical $6,000 mortgage closing cost. Director Rohit Chopra said this year that lenders and consumers alike are being overcharged by the credit reporting industry. The report cited FICO’s dominant market position, which covers more than 95% of securitizations, and the fact that its scores make up less than 0.2%

Investor 531

Investor Mortgages Closing costs Loans 531

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

OCTOBER 13, 2022

One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers. Based on those plans, both GSEs are pushing pilot programs promoting the use of attorney opinion letters, reportedly as an alternative to reduce closing costs.”.

Title 416

Title Closing costs Title search Closing 416

Housing Wire

NOVEMBER 20, 2024

per joint application for a tri-bureau credit report, the industry standard. royalty per score accounts for a small portion—approximately 15%—of the cost of a tri-merge credit report and score bundle. However, executives at mortgage lenders view these costs differently. per score—equating to $4.35 per borrower and $8.70

Mortgages 435

Mortgages Loan Officer Loans Closing costs 435

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

OCTOBER 22, 2024

Unlike other industry “rate alerts,” Uplist’s product fully automates the entire refinance analysis process. The tool also does modeling of potential savings for homeowners by analyzing various interest rates , closing costs and repayment options.

Loan Officer 435

Loan Officer Loans Technology Closing costs 435