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.

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Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. Rocket Mortgage began offering the recently revamped BorrowSmart Access program in March.

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Debt-to-income ratio Closing costs Finance Lending 435

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%

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Housing Wire

DECEMBER 16, 2022

For title insurance, a homebuyer only needs to pay a one-time fee at closing, which is typically issued in the amount of the real estate purchase price. For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. Title insurance remains essential.

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Title Title search Closing costs Land 493

Housing Wire

MARCH 9, 2023

The program would grant certain mortgage lenders a waiver on title insurance requirements for loans sold to Fannie Mae and will be rolled out this spring, according to Politico. residential real estate mortgages, would not confirm nor deny the rumors. “We Fannie Mae, which currently backs almost $4.1 trillion in U.S.

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Housing Wire

JULY 24, 2023

Delmar Mortgage has become the latest lender to partner with Freddie Mac on a special purchase credit program that aims to narrow the housing gap for historically underserved communities. Delmar Mortgage was founded in 1966 and operates in 38 states with 16 branch locations.

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Mortgages Closing costs Finance Land 281

Housing Wire

APRIL 11, 2022

The AOL must also list “all other liens and the states in which they are subordinate,” and “state the title condition of the property is acceptable and the mortgage constitutes a lien of the required priority on a fee simple estate in the property.”. The post Fannie Mae announces title insurance shake up appeared first on HousingWire.

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Title Closing costs Loans Closing 435

Housing Wire

AUGUST 14, 2023

The American Land Title Association (ALTA) is celebrating a huge win in its ongoing war against title insurance alternatives. One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers.

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Housing Wire

MARCH 8, 2024

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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Title Industrial Land Closing costs 451

Housing Wire

DECEMBER 14, 2023

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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Housing Wire

FEBRUARY 23, 2023

The title industry led the way in collaborating with industry partners to expand access to digital closings through remote online notarization (RON), which has helped tens of thousands of homebuyers complete their real estate and mortgage transactions safely and securely through the innovative use of technology solutions.

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Title Industrial Purchase and sale agreement Title search 476

Housing Wire

DECEMBER 26, 2022

At many title firms, the slowdown in homebuyer demand, due to rising mortgage rates and higher home prices, meant a decrease in order volumes. On top of slowing purchase order volume, rising mortgage rates also decimated refinance orders. What happened to the market?’”.

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Housing Wire

OCTOBER 13, 2022

Since the government sponsored entity’s announcement, the American Land Title Association has taken a strong stance against AOLs and other title insurance alternatives. One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers.

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Title Closing costs Title search Closing 393

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.”

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Title Title search Industrial Closing costs 451

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.”.

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Housing Wire

JULY 14, 2023

This includes a policy going back as far as 1855, 34 years prior to the admission of the territory to the Union as a state, when “Washington’s first territorial governor compelled Indigenous Tribes in the area to cede their lands and move to reservations,” according to the summary. In May, Wash.

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Closing costs Land Design Banks 370

RIS Media

APRIL 21, 2022

The national average for mortgage closing costs for a single-family property in 2021 was $6,905 including transfer taxes and $3,860 excluding transfer taxes, according to CoreLogic ’s ClosingCorp ’s latest Purchase Mortgage Closing Cost Report released this week. These amounts represent a 13.4%

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Closing costs Closing Mortgages Title 98

Marco Santarelli

APRIL 5, 2025

Mortgage rates have indeed taken a dip , partly due to the ongoing trade tensions and tariffs, which is usually welcome news for anyone looking to buy a home or refinance. However, the reality is that even with these lower borrowing costs, the overall cost of buying a house remains stubbornly high, hovering near record levels.

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Mortgages Principal Construction Investor 95

Housing Wire

DECEMBER 12, 2024

Editor in Chief Sarah Wheeler sat down with Jeff Bell, president of both UpWell Mortgage and software company Uplist , to talk about how he thinks about technology, and the good news that the industry is turning a corner after two rough years. This interview has been edited for length and clarify. None of them are accurate.

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Loan Officer Loans Technology Mortgages 369

HomeLight

NOVEMBER 10, 2021

When you sell your house without the help of a real estate agent, you’ll save money on commission fees but won’t escape closing costs entirely. The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. Seller FSBO closing costs.

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Housing Wire

FEBRUARY 19, 2025

Secure a mortgage pre-approval As a rule of thumb, its best to have your clients obtain a mortgage pre-approval prior to setting up any searches and conducting property tours. Your role as their agent is to ensure every offer is presented professionally to give your clients the best chance at landing their dream home.

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Marco Santarelli

MARCH 13, 2025

As of March 2025, mortgage rates remain near a 3-month low , hovering around 6.65% for a 30-year fixed mortgage, according to Freddie Mac. Mortgage Rates Remain Near 3-Month Low: Should You Lock in Now? Mortgage rates are a bit like the weather they change constantly! Is Now the Right Time For You to Lock In?

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Mortgages Pre-approval Finance Closing costs 94

HomeLight

JUNE 20, 2023

California homeowners looking to upgrade from their starter home to more permanent digs may be surprised by the amount they’ll owe at the end of the sale: Closing costs in California typically range from 6% to 8% of total home sale price. Mortgage payoff Nationally, the median duration of homeownership is just over 13 years.

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Closing costs Closing Title Agents 105

Housing Wire

JULY 25, 2022

The Fannie Mae report projects “strong deceleration in home-price growth going forward” due to higher mortgage rates and the overall slowing economy affecting purchase demand. Overall, annual mortgage origination levels are expected to be $2.8 By comparison, home-price growth was 17.8% in 2021, Freddie Mac reports. The Beige Book.

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Marketing Residential Construction Mortgages 418

Realty Biz

FEBRUARY 19, 2024

Buying land represents a pivotal investment in one's future. Each stage demands careful consideration to avoid common pitfalls and ensure the land meets your long-term objectives. Each stage demands careful consideration to avoid common pitfalls and ensure the land meets your long-term objectives.

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Land Due diligence Title search Finance 128

Realty Biz

FEBRUARY 23, 2022

Besides the mortgage fees and down payment you need to pay, there are also a few closing costs you should know about before you make an offer on a house you like. These are actual expenses associated with your home purchase which you’ll need to pay at the closing of a real estate transaction. Land transfer fee.

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CT Homes

OCTOBER 28, 2021

When buying or selling a home, the topic of who pays closing costs is bound to come up eventually. Any real estate transaction will host numerous costs and fees that will be factored into the purchasing process on top of the property’s value. What are Closing Costs? Does the Buyer or Seller Pay Closing Costs?

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Closing costs Closing Purchase and sale agreement Title 75

HomeLight

NOVEMBER 29, 2021

Plus, down payment and closing costs in New Jersey can set you back thousands of dollars. Some mortgage programs require no down payment but can have strict eligibility requirements. First-time homebuyers may need a 20% down payment to avoid mortgage insurance (MI), which can sometimes be a difficult hurdle to clear.

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Land Closing costs Purchase and sale agreement Loans 110

Realty Biz

DECEMBER 10, 2020

Tips For Getting Preapproved For a Mortgage. It is effortless to start looking at homes that you will later find you can’t afford when you try to get approved for a mortgage. However, if you have a mortgage preapproval , you will know where you stand and be in a stronger position when making an offer.

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Loans Mortgages Pre-approval Pre-qualification 144

Marco Santarelli

MAY 27, 2024

Soaring mortgage rates in 2024? Let's face it, today's mortgage rates can sting. There's a little-known weapon in your arsenal: the assumable mortgage. An assumable mortgage is a way to take over the existing mortgage on a property instead of getting a brand-new loan.

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Debt-to-income ratio Mortgages FHA loan VA loan 96

Realtor.com

MARCH 8, 2021

When you buy a home, you can usually rely on a standard mortgage to pay for it. But when you build your home from the ground up, a regular mortgage may not suffice. Read on to learn how home construction loans work, how they differ from conventional mortgages, what you need to qualify, and what happens once your home build is complete.

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Loans Construction Land Finance 120

The Close

NOVEMBER 25, 2024

I’ll walk you through everything from figuring out if this strategy suits you to finding listings and ultimately closing the deal on the property. Preforeclosure houses typically occur when a homeowner falls behind on mortgage payments, which results in loan default. What Is a Preforeclosure Property? What is a foreclosure auction?

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Realtor.com

FEBRUARY 2, 2022

But our mortgage and lending system can be especially challenging for retirees to navigate, simply because lenders prioritize income. There are a lot of different rules and costs state by state,” says Rachel Lester , an agent with Keller Williams Main Line Realty in Villanova, PA. Get creative with your mortgage.

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Debt-to-income ratio Mortgages Fixed-rate mortgage Lending 100

HomeLight

OCTOBER 31, 2024

If you’re selling a home in North Carolina, you’re likely wondering how much you’ll pay in closing costs at the end of the sale. Nationally, closing costs for sellers average anywhere from 6% to 10% of the total sale price. Ideally, your home sale should cover your outstanding mortgage and closing costs.

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HomeLight

AUGUST 31, 2021

Landing a low-interest loan with minimal fees. He swears it’s all thanks to the hard work of his mortgage broker. Next, before deciding on a mortgage broker vs lender, it’s important to understand the difference between the two and to weigh the advantages and disadvantages of working with each. What is a mortgage broker?

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HomeLight

JUNE 14, 2022

These indirect costs may include seller concessions and buyer incentives. A concession is when a seller agrees to use part of the proceeds from their home sale to cover some, or all, of a buyer’s closing costs. The amount of these costs will depend on your market and selling situation. Closing costs and additional fees.

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Realtor.com

OCTOBER 29, 2020

Appraisal contingency: With this contingency, a third party hired by your mortgage lender evaluates the fair market value of the home. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Get final mortgage approval. Clear the title.

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