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

Housing Wire

In sum, our analysis shows Fannie Maes title insurance pilot will have a profound and long- lasting impact on closing costs, potentially eliminating a barrier that prevents many homeowners from pursuing a refinance or other financially beneficial transaction.

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Black Friday deals on a new home? Here you go

Housing Wire

The Ohio-based builder is offering discounts of up to $20,000 on select homes in Greater Houston , along with no-cost 2/1 rate buydowns , and slashing prices by as much as $93,850 in other markets like Chicago. The promotion applies to select homes in various housing developments across multiple cities.

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Don’t Forget to Budget for Closing Costs

Keeping Current Matters

Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? According to Trulia : “ When you close on a home, a number of fees are due.

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Texas orders cut to title insurance premiums

Housing Wire

Texas insurance commissioner Cassie Browns office laid out what led to the move in a written order containing provisions analyzed by the Texas Land Title Association (TLTA) and the Texas Office of Public Insurance Counsel (OPIC). Every time a Texan buys a home, they will spend less on closing costs.

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Rules on closing costs, PACE loans on CFPB chopping block

Inman

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

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Fannie Mae expands use of AOLs in selling guide update

Housing Wire

The American Land Title Association has been a vocal critic of AOLs since Fannie Mae’s announcement nearly two years ago. 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.

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Title waiver pilot program will have little impact on the industry: Fitch Ratings

Housing Wire

Fitch also noted that other similar efforts by the federal government to lower closing costs, including Fannie Mae’s announcement in April 2022 that it would accept AOLs in lieu of title insurance policies, has had no material impact on the title industry. Soham Bhonsle, an analyst at BTIG, shares a similar outlook.

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