Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Industrial 448

Industrial MLS FHA loan Agents 448

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.”.

Industrial 370

Industrial Title Lending Technology 370

Housing Wire

SEPTEMBER 9, 2024

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. We’re also looking at identifying ways to jumpstart competition in certain closing cost categories, which can also help spur more activity.

Mortgages 476

Mortgages Closing costs Title Technology 476

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. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

Closing costs 488

Closing costs Development Equity Closing 488

Housing Wire

MARCH 1, 2021

The closing process, that time between underwriting approval and the actual closing, is the mortgage industry’s not-so-secret Achilles’ heel. That’s not a knock on the good professionals who enact minor miracles choreographing the multi-faceted ballet that is a typical closing. Let’s admit it.

Closing 321

Closing Title Marketing Title search 321

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. Certner cited fair lending concerns and the potential of undue borrower influence. They’re using it to help shape the process going forward.

Mortgages 442

Mortgages Closing costs Equity Construction 442

Housing Wire

DECEMBER 14, 2023

In 2023, Fannie Mae and Freddie Mac announced plans to make it easier to buy a home and close the racial homeownership gap in the United States. The research found that title and settlement fees are neither regressive nor represent a significant component of the overall closing costs. In fact, neither is true. increase in fees).

Title 459

Title Closing costs Loans Title search 459

Housing Wire

JUNE 28, 2024

Unfortunately, the Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information (RFI) on mortgage closing costs—including title insurance—that continues a concerning pattern of labeling legitimate, well-regulated, and transparently disclosed costs and services as “junk fees.”

Title 397

Title Closing costs Closing Industrial 397

Housing Wire

OCTOBER 29, 2024

So, when many in the real estate industry correctly anticipated changes to the agent commission structure — which were solidified by the National Association of Realtors’ (NAR) settlement following the jury verdict in the Sitzer/Burnett lawsuit nearly a year ago — there was quite a bit of fear about how first-time buyers would be impacted.

Marketing 448

Marketing Agents Closing costs Industrial 448

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

DECEMBER 9, 2024

Although no person can truly predict mortgage rates for there are several factors involved; Industry forecasts predict interest rates will hover between 5.5% Save strategically: Even with down payment assistance, youll need some savings for earnest money and closing costs. and 6%, with potential dips below 6% by mid-year.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

Housing Wire

DECEMBER 16, 2022

For most real estate industry professionals, title insurance needs no introduction. 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. Due to a misfiling, nobody knew of an encroachment until months after closing.

Title 493

Title Title search Closing costs Closing 493

Housing Wire

MARCH 28, 2023

Those looking to buy a home can earn 5% back by using the Rocket Visa Signature Card for up to $8,000 that can be used toward closing costs and down payments. In turn, homebuyers can use points to get discounts on their closing costs in the future.

Closing costs 435

Closing costs Finance Principal Mortgages 435

Housing Wire

NOVEMBER 6, 2024

The mortgage industry is now bracing for additional hikes from the credit reporting bureaus and other companies downstream of FICO. “At Wehmann added that, after the change, “FICO’s share will remain only approximately two-tenths of one percent” of the total average closing costs of $6,000. ” “At $4.95

Closing costs 418

Closing costs Mortgages Industrial Lending 418

Housing Wire

NOVEMBER 20, 2024

per joint application for a tri-bureau credit report, the industry standard. royalty per score accounts for a small portion—approximately 15%—of the cost of a tri-merge credit report and score bundle. However, executives at mortgage lenders view these costs differently. per score—equating to $4.35 per borrower and $8.70

Mortgages 435

Mortgages Loan Officer Closing costs Loans 435

Housing Wire

NOVEMBER 3, 2023

Not available anywhere else in the industry today, consumers can gather inspiration on social media networks like Pinterest, upload photos of their dream home and homegeniusIQ, homegenius Real Estate’s proprietary technology, will instantly analyze the photos and present homes with similar features.

Closing costs 434

Closing costs Short sale Technology New Construction 434

Housing Wire

AUGUST 14, 2023

One of the goals they outlined in those plans is a push to reduce closing costs, especially for low-income borrowers. Based on those plans, both GSEs are pushing pilot programs promoting the use of attorney opinion letters, reportedly as an alternative to reduce closing costs.”

Title 370

Title Closing costs Finance Land 370

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.”

Title 464

Title Title search Industrial Closing costs 464

Housing Wire

OCTOBER 13, 2022

Now, thanks to United Wholesale Mortgage (UWM) CEO Mat Ishbia’s recent announcement that his company is hiring attorneys to review title and closing documents, AOLs and the risks associated with them, have been a hot topic at this year’s ALTA One conference. It is also the third-biggest source of claims in our industry right now.

Title 411

Title Closing costs Title search Closing 411

Housing Wire

SEPTEMBER 10, 2022

The SPCP, called “closing the gap,” permits a 1% down payment with a free appraisal, free home warranty program, free homebuying counseling and financial assistance with closing costs. and has worked in the mortgage industry for over 50 years.

Loans 448

Loans Closing costs Development Finance 448

Housing Wire

JANUARY 17, 2024

With this latest enhancement, homebuyers aged 62+ can participate in seller concessions for up to 6% of the sales price toward borrower origination fees, other closing costs, prepaid items, and discount points. 6 “The truth is the real estate industry hasn’t really needed to learn about this financing option over the past decade.

Finance 482

Finance Seller concession Loan Officer Loans 482

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

SEPTEMBER 19, 2024

While the report is another disappointing one for the real estate industry, there’s good news. Higher inventory levels and lower mortgage rates should provide better conditions for the market in the fall, helping both buyers and sellers who’ve been waiting on lower borrowing costs and the end of the election cycle.

Sales 459

Sales Closing costs MLS Inspection 459

Housing Wire

OCTOBER 22, 2024

Unlike other industry “rate alerts,” Uplist’s product fully automates the entire refinance analysis process. The tool also does modeling of potential savings for homeowners by analyzing various interest rates , closing costs and repayment options.

Loan Officer 435

Loan Officer Loans Technology Closing costs 435

Housing Wire

NOVEMBER 9, 2023

Fannie Mae and Freddie Mac jointly announced this week that they have entered a new critical edit phase for their Uniform Closing Dataset (UCD) as of Nov. An implementation guide released in May 2022 shows that phase three deals with information related to loan costs; other costs; total closing costs; and lender credits.

Loans 435

Loans Closing costs Closing Mortgages 435

HomeLight

APRIL 13, 2023

Once you’ve found your dream house in Florida and settled on the purchase price, you might think you know the final cost you’re responsible for. However, there’s another set of fees and charges you must be prepared for, and those are closing costs. Find a Buyer's Agent What are closing costs? of the sales price.

Closing costs 103

Closing costs Closing Title Inspection 103

Housing Wire

MAY 1, 2024

This has led to the development of policies by state and local housing finance agencies to aim assistance specifically at this group, particularly for “mortgage eligibility or down payment and closing costs assistance.”

Mortgages 459

Mortgages Finance Closing costs Loans 459

Housing Wire

APRIL 11, 2022

In addition, letters must be addressed to the lender and all successors-in-interest, be commonly accepted in the property’s jurisdiction, provide gap coverage for the duration between closing and recordation, and include certain other information. Fannie Mae did not return a request for comment.

Title 435

Title Closing costs Loans Closing 435

Housing Wire

OCTOBER 17, 2024

of a typical $6,000 mortgage closing cost. Director Rohit Chopra said this year that lenders and consumers alike are being overcharged by the credit reporting industry. The report cited FICO’s dominant market position, which covers more than 95% of securitizations, and the fact that its scores make up less than 0.2%

Investor 531

Investor Closing costs Mortgages Loans 531

Housing Wire

AUGUST 10, 2023

Mortgage , and/or Closing Cost Credit. For eligible borrowers at or below 80% AMI, the mortgage program allows a 3% down payment on a fixed-rate mortgage and the closing cost credit program provides up to $5,000 to use toward closing costs.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

JANUARY 18, 2021

An agent can keep you calm and informed, so you’re never in the dark when it comes to closing costs. Most homeowners don’t know the ends and outs of the mortgage industry. When choosing an agent, find one with reasonable fees so you’re not paying for their services well after you’ve closed on your home.

Agents 545

Agents Closing costs Closing Mortgages 545

Housing Wire

DECEMBER 31, 2021

DeCiantis oversees advertising, public relations, social media, creative and customer relationship management that has established the company as the gold standard of the wholesale mortgage industry. Below, DeCiantis answers questions about the housing industry: HousingWire: To start off, what is your current favorite HW+ article?

Industrial 418

Industrial Closing costs Mortgages Closing 418

Housing Wire

DECEMBER 14, 2023

Tomb also noted that ALTA was troubled by the fact that Fannie Mae’s announcement came without any discussion with the title insurance industry. 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.

Title 461

Title Land Finance Loans 461

Housing Wire

JUNE 21, 2024

The Montana Board of Housing is aiming to remind the state’s seniors about a government-administered program that is specifically designed to help older adults access their home’s equity — and it should be very familiar to members of the reverse mortgage industry. The Montana Board of Housing is the only entity to provide this service.”

Mortgages 396

Mortgages Equity Finance Closing costs 396

Housing Wire

DECEMBER 18, 2023

In her first national interview since a Missouri jury found the real estate industry liable for colluding to artificially inflate real estate agent commissions, National Association of Realtors (NAR) president Tracy Kaspe r said the trade group would continue to advocate for what it feels is best for consumers. “We

MLS 488

MLS Loans Closing costs Industrial 488

Housing Wire

FEBRUARY 12, 2024

This is why it’s more important than ever for independent mortgage brokers across the country to establish themselves as an expert and trusted advisor in the mortgage industry. Are they interested in buying, but worried about down payment and closing costs? Read up on industry news every day.

Mortgages 482

Mortgages Loans Closing costs Industrial 482

Housing Wire

JULY 2, 2024

Purchase is one we’re watching closely with the recently implemented tweak to closing costs that we expect to open that door more fully. As FOA and Mutual of Omaha continue to battle for reverse mortgage industry supremacy, Lunde and RMI will be watching closely, he said. “I Let’s see how HMBS 2.0

Mortgages 432

Mortgages Equity Loans Loan Officer 432