Housing Wire

APRIL 13, 2022

However, most title policies offer 100% coverage of all costs associated without any title defects discovered during their review, but because any extra fees for services offered by title insurance companies in this process are not regulated, these “services” and additional fees are where borrowers are typically taken advantage of.

Title 396

Title Lending Closing Closing costs 396

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. The most obvious argument against a totally digital lending approach—and the one that requires the least amount of rationale—is that customers don’t want it.

Lending 369

Lending Marketing Pre-qualification Pre-approval 369

Inman

FEBRUARY 4, 2025

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.

Closing costs 130

Closing costs Closing Loans Mortgages 130

Housing Wire

FEBRUARY 6, 2025

Younger service members struggle during the homebuying process, particularly around paying closing costs. Department of Veterans Affairs established the VA lending program as part of the Servicemens Readjustment Act (later renamed the GI Bill). Its important to take a moment to look back at the history behind VA benefits.

Industrial 270

Industrial Lending Closing costs Loans 270

Housing Wire

MARCH 2, 2021

Historically low interest rates in 2020 led to an all-time high in mortgage lending for new loans, but with forbearance moratorium deadlines being extended, some lenders are getting nervous. HELOCs provide flexible access to home equity and closing costs are typically only 2% to 5%, so it’s much cheaper than a refinance.

Title 334

Title Lending Due diligence Title search 334

Housing Wire

AUGUST 5, 2020

According to one broker, Parkside Lending and Stearns Lending are offering a 15-year-fixed rate as low as 1.75% to some mortgage brokers, depending on the relationship. (We If people are willing to buy or refinance at a higher rate, they can get a rebate toward closing costs,” he said.

Mortgages 528

Mortgages Loan Officer Lending Loans 528

Housing Wire

JULY 7, 2022

Another cornerstone of Fannie Mae’s equity plan is the use of targeted lending programs. Fannie Mae sought feedback while its plan was in development and learned some lenders were hesitant to implement special purpose credit programs, which can target lending products based on a protected class.

Equity 448

Equity Lending Closing costs Development 448

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. These credits can lead to fair lending violations.

Closing costs 488

Closing costs Development Equity Closing 488

Housing Wire

JULY 5, 2023

Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads. The company’s management team implemented this policy, the complaint alleges, because refinancing can come with high closing costs that range between $5,000 and $10,000 dollars.

Mortgages 370

Mortgages Closing costs Lending Closing 370

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 456

Banks Closing costs Lending Equity 456

Housing Wire

AUGUST 10, 2023

“Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Mortgage , and/or Closing Cost Credit. Wells Fargo’s mortgage originations reached $7.8

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

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

JUNE 11, 2021

Have you budgeted for closing costs? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. What’s the difference between a home inspection and an appraisal?

Inspection 459

Inspection Closing Closing costs Title search 459

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again.

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. Can you connect those dots for me? Ed Gerding: Sure.

VA loan 443

VA loan Lending Banks Investor 443

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.

Debt-to-income ratio 435

Debt-to-income ratio Closing costs Finance Lending 435

Housing Wire

MAY 9, 2022

The layoffs affect mainly mortgage consultants, specialists, and assistants, but it targets underwriting and closing professionals. The list includes top executives, such as lending directors and vice presidents for credit and underwriting. HousingWire sent a message seeking comment to Guaranteed Rate, which was not returned.

Lending 418

Lending Closing costs Title Mortgages 418

Housing Wire

APRIL 30, 2024

AARP concerns “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,” HUD said in its update to the policy. Certner cited fair lending concerns and the potential of undue borrower influence.

Mortgages 441

Mortgages Closing costs Equity Construction 441

Housing Wire

NOVEMBER 8, 2022

LodeStar Discovery provides access to title and closing fees across the U.S. A statement from LodeStar says the alliance will allow clients from both companies to streamline their lending process. and can help users generate quotes and estimates on LendingPad as part of an integrated existing workflow.

Closing costs 370

Closing costs Title Lending Loans 370

Housing Wire

NOVEMBER 7, 2023

Potter added: “Government lending would come to a halt. Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” “But agent commissions have never been a closing cost from a buyer perspective. Grant said.

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

FEBRUARY 10, 2025

These younger servicemen and women often face difficulties navigating the homebuying process, particularly around paying closing costs. But Veterans and their families are defined by much more than just their credit scores and deserve more nuanced consideration of their unique circumstances when making lending decisions.

Industrial 201

Industrial VA loan Lending Loans 201

Housing Wire

MAY 10, 2021

Lending and services platform Finance of America Inc. This product provides an entry point for contractors to introduce homeowners to lending solutions for their projects. However, it doesn’t require a HUD inspector or consultant — it similarly requires the borrower to pay closing costs and origination fees.

Renovation 397

Renovation Finance Loans Lending 397

Housing Wire

MARCH 25, 2021

If your credit isn’t good, lenders are less likely to lend you money. With closing costs, insurance, furniture, etc. But here’s the thing, to be approved your credit needs to be in good shape. While student loan debt isn’t the biggest factor in determining a credit score, it’s still something lenders look at.

Debt-to-income ratio 511

Debt-to-income ratio Loans FHA loan Finance 511

Housing Wire

JUNE 11, 2024

While this proposed rule doesn’t apply to mortgage lending specifically, it offers a glimpse into the CFPB’s current thought process and, therefore, is something lenders should pay close attention to moving forward. But most recently, the Bureau announced a Request for Information (RFI) into “Junk Fees in Mortgage Closing Costs.”

Loans 443

Loans Lending Mortgages Closing costs 443

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. David Smith is the VP of National VA Lending at loanDepot. Department of Veteran Affairs , which is issued and serviced by authorized lenders.

VA loan 468

VA loan Loans Mortgages Lending 468

Housing Wire

MAY 5, 2023

HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments. Optimal Blue , a division of Black Knight, Inc. Black Knight, Inc.

Investor 396

Investor Finance MLS Closing costs 396

Housing Wire

NOVEMBER 30, 2022

Among this impressive list of submissions, companies like 2022 TECH100 honoree Voxtur are working to improve the entire lending lifecycle. Last year, Voxtur was selected as a TECH100 mortgage honoree for its work in empowering the real estate industry to become faster, more efficient and more cost-effective than ever before.

Industrial 370

Industrial Title Lending Technology 370

Housing Wire

FEBRUARY 1, 2023

“The streamlined process and certainty One-Time Close New Construction loans offer is unmatched and will set brokers up to be the hero with builders, real estate agents and contractors, and get their borrowers in their dream home,” Mat Ishbia , president and CEO of UWM, said in a statement.

Construction 418

Construction Loans Loan Officer New Construction 418

Housing Wire

DECEMBER 30, 2022

This is the result of several forces: the Fed’s anti-inflation policy; the rapid deceleration in lending that’s resulted in a 40% drop in applications; the rising cost of mortgage production, which has now broken the $10,000 per loan threshold; and the continued drive towards digitization in mortgage lending.

Lending 396

Lending Industrial Loans Mortgages 396

Housing Wire

OCTOBER 27, 2020

Mortgage lending has gotten stricter during the COVID-19 pandemic. They would function similarly to 529 college savings plans, allowing residents to save up for their down payment, closing costs, and other home-buying expenses. Chase, for example, upped their minimum down payment to 20% in the early months of the pandemic.

VA loan 418

VA loan FHA loan Loans Banks 418

Housing Wire

APRIL 26, 2023

This is honestly where good loan officers can really separate themselves,” Josh Burruss, executive vice president and chief lending officer of Intercoastal Mortgage , said. That’s why builders are utilizing closing cost incentives and temporary rate buydowns often funded by lenders. “If

Loan Officer 418

Loan Officer Mortgages Loans Closing costs 418

RIS Media

MAY 19, 2021

It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home. Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs.

Closing costs 116

Closing costs Closing Pre-approval VA loan 116

Housing Wire

APRIL 9, 2024

Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan. A lawsuit filed by borrowers on the heels of the report states that UWM created a ‘ corrupt ’ scheme with loyal brokers to send loans its way, applying excess fees and costs.

Fixed-rate mortgage 467

Fixed-rate mortgage Loans Mortgages Loan Officer 467

Housing Wire

FEBRUARY 16, 2024

According to the DOJ, having the buyer request that the seller cover their broker fee in the offer, similarly to how a buyer may ask a seller to cover closing costs, would make it “straightforward for a seller to compare offers that include a request for the seller to pay the buyer’s broker with offers that do not include such a request.”

MLS 459

MLS Lending Closing costs Agents 459

Housing Wire

DECEMBER 1, 2023

For 2023, FICO said it would collect approximately $2 to $8 for all three score tiers out of a $40 to $50 (or more) tri-merge report and score bundle and out of an average $3,800 in closing costs. Compared to 2022, mortgage lenders in 2023 saw a price increase between 10% and 400% , mortgage trade groups and other stakeholders said.

Mortgages 482

Mortgages Pre-approval Closing costs Lending 482

Housing Wire

DECEMBER 27, 2022

Katie Sweeney: We are looking at national as well as local trends to identify areas where we can help brokers and homebuyers make the most impact within their communities, specifically, the disparity in lending practices for underserved communities and equalizing the regulatory requirements for wholesale mortgage professionals.

Lending 396

Lending Mortgages Closing costs As-is 396

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. “I Bank Home Mortgage and Planet Home Lending declined to comment.

Agents 418

Agents Loan Officer Lending Loans 418