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Better introduces VA refi loan with no appraisal or closing costs

Housing Wire

New York-based digital mortgage lender Better.com launched a streamline refinance loan product on Monday that aims to help military veterans and service members save money on long-term interest expenses and closing costs. But the forecast for refinance demand is changing as mortgage rates have skyrocketed in the past six weeks.

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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. ” FinLocker indicated that future initiatives will target other high-cost areas like title expenses.

Mortgages 306
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Tomo Mortgage closes $20M Series B funding round

Housing Wire

Tomo Mortgage on Tuesday announced the closure of $20 million in Series B funding that was led by three existing investors and a new participant. Tomo touts its use of artificial intelligence in streamlining loan underwriting and closing processes. The companys tech-driven approach to lending is proving attractive to investors.

Closing 359
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CHLA: Lack of competition has driven up third-party closing costs

Housing Wire

The Community Home Lenders of America (CHLA) on Thursday issued a comment letter to the Consumer Financial Protection Bureau (CFPB), saying that a major reason for the increase in mortgage closing costs from third parties is due to a lack of competition among third-party providers.

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CoreLogic: Jump in home-purchase closing costs outpaces refi loans

Housing Wire

Closing costs for homeowners who jumped on the refi wave in 2021 increased at less than one-third the pace of closing costs for home purchases as homebuyers had to cope with a hot market that fueled higher home-sale prices and related settlement costs. How to avoid home closing delays in 2022.

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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. “They can add up to several percentage points of the total mortgage amount. At least when it comes to redundancies with refinancings, that is.

Mortgages 476
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History matters as Howard Hanna looks to tackle 2025

Housing Wire

It also utilized technology tools and worked toward creating innovative solutions such as Buy & Borrow Bundle. This service allows homebuyers who work with a Howard Hanna agent and get their mortgage through Howard Hanna Mortgage Services to receive a credit of up to $10,000 (or 0.5%

Brokerage 370