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First-time homebuyers are being insulated by slower market conditions. Will it last?

Housing Wire

So, when many in the real estate industry correctly anticipated changes to the agent commission structure — which were solidified by the National Association of Realtors’ (NAR) settlement following the jury verdict in the Sitzer/Burnett lawsuit nearly a year ago — there was quite a bit of fear about how first-time buyers would be impacted.

Marketing 448
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2025 mortgage predictions: Your playbook for a winning year

Housing Wire

Setting the Stage for 2025 Heres the good news, 2025 is set to stabilize. Although no person can truly predict mortgage rates for there are several factors involved; Industry forecasts predict interest rates will hover between 5.5% Many sellers are offering to cover 2-3% of closing costs.

Mortgages 370
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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 290
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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. LOs on average get about 1%.)

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Empathy in the face of foreclosure

Housing Wire

Because not only are we an industry that values the bottom line, we serve the spirit behind the American Dream of homeownership. During the Great Recession, I had the opportunity and duty to work with thousands of families that had aspired to homeownership, but found themselves in varying stages of the default process.

Equity 397
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CFPB director open to changing mortgage regs to fix refi process

Housing Wire

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

Housing Wire

per joint application for a tri-bureau credit report, the industry standard. “FICO set the stage for the pricing increase with their 40% increase this year. royalty per score accounts for a small portion—approximately 15%—of the cost of a tri-merge credit report and score bundle. per score—equating to $4.35

Mortgages 435