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Bipartisan congressional caucus calls on FHFA to halt title waiver program

Housing Wire

The Bipartisan Congressional Real Estate Caucus is calling on the Federal Housing Finance Agency (FHFA) to cease its pilot program for title insurance waivers until the program is vetted and the agency seeks public input on it. According to the letter, the average cost of a title claim and associated expenses is $26,000.

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Closing costs: Here’s how much money you really need to buy a house

Housing Wire

Understanding what expenses are required at closing to buy a house will help you budget and save more effectively. In this article, we break down exactly what closing costs are so you’re prepared when you start shopping for a home: What are closing costs? Title Search Fee. Title Insurance.

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ALTA: Protecting property rights with title insurance

Housing Wire

For most real estate industry professionals, title insurance needs no introduction. A trusted product , title insurance has been used to protect real estate transactions and property rights for over a century. Title insurance is different than most other insurance products. Title insurance is a comprehensively regulated product.

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12 Typical Closing Costs for Seller in Alabama

HomeLight

If you’re about to close on your Alabama home sale, you’re likely wondering how much you’ll owe in closing costs. Nationally, sellers typically pay between 6% to 10% of the property’s sale price in closing costs. Receive your offer in 24 hours and close in as few as 10 days.

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Opinion: Title and settlement fees aren’t a barrier to homeownership

Housing Wire

Part of the equitable housing plans’ approach to achieving more equity includes reducing the costs and fees associated with buying a home that are often cited as a homeownership barrier for low- and moderate-income and non-white households. In fact, neither is true. What differences do exist are very small. increase in fees).

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Opinion: How the title industry protects homeowners

Housing Wire

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders. As an industry, our commitment to protection goes beyond title insurance policies. The bill is being considered in several states nationwide.

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Title insurers reckon with attorney opinion letters

Housing Wire

Unlike the title industry’s cybersecurity and wire fraud challenges, which are strictly 21 st century issues, the recent interest and use of attorney opinion letters (AOLs) harkens back to an earlier era of homebuying. 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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