Housing Wire

SEPTEMBER 9, 2024

“We really think closing costs can be a significant obstacle to refinancing,” Chopra said at an AI and technology conference jointly hosted by ICE Mortgage Technology and the National Housing Conference at the New York Stock Exchange on Monday. At least when it comes to redundancies with refinancings, that is.

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Mortgages Closing costs Title Technology 476

Housing Wire

FEBRUARY 28, 2024

They will also be offered closing cost credits of up to 0.5% The program is only eligible for loans that close through Newrez. The Newrez Home Rewards program is currently available in 40 states for buy-side credits that allow consumer rebates on the closing disclosure, Newrez said in an emailed response to HousingWire.

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Closing costs Loan Officer Closing Loans 448

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.

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Housing Wire

NOVEMBER 3, 2023

That’s why they’ve introduced the homegenius Platform, an integrated solution consisting of advanced technology , data science, machine learning and AI designed to drive value and bring ease to consumers through the home buying and selling journey. Through this offering, consumers may also be eligible to receive a rebate* at closing.

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Closing costs Short sale Technology New Construction 434

Housing Wire

OCTOBER 22, 2024

Mortgage technology company Uplist has launched what it says is a killer new tool that will help loan officers automatically generate refinance options for their clients. The tool also does modeling of potential savings for homeowners by analyzing various interest rates , closing costs and repayment options.

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Loan Officer Loans Technology Closing costs 435

Housing Wire

MARCH 20, 2024

The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process. 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.

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Banks Closing costs Lending Equity 456

Housing Wire

APRIL 18, 2023

However, it still appears that lenders are focusing their technology investments on the point of sale. A 2020 ICE Mortgage Technology survey confirmed this, reporting that 58% of borrowers were affected in their decision making by the presence (or lack thereof) of an online application. And, in particular, closing fees.

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Mortgages Technology Closing costs Title 370

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.

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Loans Closing costs Closing Mortgages 435

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.”

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Title Closing costs Finance Land 370

Housing Wire

FEBRUARY 5, 2021

HW Media CEO Clayton Collins and Scott Happ, president of Secondary Marketing Technologies at Black Knight, discuss Black Knight’s acquisition of Optimal Blue and what the industry can expect from the company’s new Secondary Marketing Technologies division. How lenders will benefit from Black Knight’s acquisition of Optimal Blue.

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Loan Officer Loans Closing costs Title 448

Housing Wire

MAY 23, 2022

HousingWire recently spoke with Barry Coffin, managing director of home equity title/close at ServiceLink , about the ways lenders can capitalize on these trends by revving up their home equity solutions. These digital solutions, especially those offered by ServiceLink, work just as well in the home equity title/close process.

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Equity Title Technology Loans 396

Housing Wire

AUGUST 17, 2022

Seller concessions, which are closing costs the seller agrees to pay, are deposited as the lump sum into the buydown account. Staying nimble in a fast-paced market with the right mortgage technology. Advanced product, pricing and eligibility technology creates efficiencies and helps lenders compete in a fast-paced market.

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Seller concession Mortgages Fixed-rate mortgage Loans 435

Housing Wire

MARCH 28, 2022

commercial spaces/building and residential homes/townhomes) and inconsistent transactional processes, fragmentation in the market has prevented real-estate from adopting technology as quickly as other sectors – until now. So, what are the technologies and trends iBuyers are using to fix fragmentation in the market?

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Marketing Title Closing costs Technology 397

Housing Wire

NOVEMBER 13, 2023

Any person involved in selling a home knows that you cannot increase the price of your home randomly to cover the cost of commissions and other closing costs. The market sets the price of the home, and it cares little for closing costs — or what the homeowner invested in it — when determining the price for which it will sell.

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Closing costs Equity Agents Technology 375

Housing Wire

FEBRUARY 23, 2023

Expanding acess to digital closings At the beginning of the pandemic , as our industry was deemed essential, we saw a need to increase access to digital home closings. We are proud of our strong track record of advocating for policies and programs that remove barriers to homeownership.

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Title Industrial Purchase and sale agreement Title search 476

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.

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Title Closing costs Title search Closing 410

Housing Wire

NOVEMBER 8, 2022

The aim of the partnership is to introduce LodeStar Discovery, a closing fee calculator, to mortgage loan originators using the LendingPad platform. LodeStar Discovery provides access to title and closing fees across the U.S. LodeStar Discovery provides access to title and closing fees across the U.S.

Closing costs 370

Closing costs Title Lending Loans 370

Housing Wire

SEPTEMBER 16, 2020

as a $400,000 loan including cash out, they get a… quarter of a point, or $1000 credit toward their closing costs. We’re closing loans in 15, 16, 14, 13 days. You’ve got to build your own technology and we have our own technology that does a lot of work for us. It’s just your own process.

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Mortgages Marketing Title Loans 488

Housing Wire

JUNE 11, 2024

TG: Of all the QC-related updates to the Fannie Mae Selling Guide, the most significant for lenders were the mandatory 10% pre-funding sample review and the truncated timeline for post-closing selection, review, rebuttal and reporting. TG: One of the cases that our compliance team is watching closely is CFPB v.

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Loans Lending Mortgages Closing costs 443

Housing Wire

JANUARY 7, 2025

To that end, Freddie Mac has led on efforts to help homeowners access the equity in their home without affecting their interest rate, created offerings that help defray downpayment and closing costs, and enhanced our technology to help those with thin credit files qualify for a mortgage.

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Equity Closing costs Finance Technology 374

Housing Wire

MAY 12, 2022

Technology has been the focal point of that evolution more out of necessity than some consensus that homebuyers don’t want to interact with their lenders at all. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. We’re not cavepeople.

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Lending Marketing Pre-qualification Pre-approval 369

RIS Media

MAY 9, 2022

The national average closing costs for a single-family property refinance in 2021, excluding any type of recordation or other specialty tax, was $2,375, according to CoreLogic’s ClosingCorp second annual Refinance Closing Cost report for 2021 released last week.

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Closing costs Closing Loans Title 98

Housing Wire

NOVEMBER 13, 2020

And while there is no legal limit on how many times a mortgage may be refinanced, closing costs and interest rate cycles effectively limit the number of times any given homeowner will pursue this option. Consider, too, that the pandemic has given consumers a big push when it comes to expanding their technology comfort zones.

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Banks Loans Technology Mortgages 505

Housing Wire

NOVEMBER 30, 2022

The promises of technology have largely been lost in the mortgage industry and little has been done to reduce costs for homebuyers.”. Last summer, Voxtur bought mortgage servicing rights trading platform Blue Water Financial Technologies.

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Industrial Title Lending Technology 370

Housing Wire

JUNE 9, 2022

With a fixed rate for as many as 20 years, RenoFi’s fixed-rate home equity loan provides 100% of the funds, as much as $500,000, directly to the homeowner at the time of closing, according to a news release from the startup. The new product is an addition to RenoFi’s variable rate HELOCs, which allow homeowners to borrow against their equity.

FHA loan 368

FHA loan Renovation Equity Loans 368

Housing Wire

AUGUST 21, 2023

LoanStar Technologies , which connects lenders with borrowers who are traditionally underbanked or unbanked, also made the list again. 469 LoanStar Technologies 1,241% 2016 Enabling lenders to connect and lend to customers who are traditionally underbanked or unbanked. Homelight , a platform for homebuyers and sellers, was No.

Equity 370

Equity Technology Investor Residential 370

Housing Wire

FEBRUARY 10, 2022

In November, Freddie Mac announced it would encourage landlords to provide access to rental payment data, by recouping a portion of closing costs for properties it finances. Freddie Mac CEO Michael DeVito gave an update on progress for Freddie Mac’s on-time rental payment initiative.

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Loan Officer Finance Loans Banks 418

Housing Wire

DECEMBER 16, 2024

It also utilized technology tools and worked toward creating innovative solutions such as Buy & Borrow Bundle. of the loan amount) at settlement to use toward their closing costs. So far it has generated over $1 million in savings for our consumers, and that is only on closed transactions since August.

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Brokerage Agents Technology Industrial 368

Housing Wire

OCTOBER 19, 2021

The underlying dynamics, timing and skill sets required to support purchase transactions are much more complex than a refinance, in which the primary focus is on the interest rate and associated closing costs.

Technology 397

Technology Closing costs Lending Mortgages 397

Housing Wire

OCTOBER 21, 2021

The resources help families with 80% or less of the area median income for down payments or closing costs, for example. The Affordable Housing Program (AHP) requires that each of the 11 FHLBanks in America contributes 10% of the preceding year’s net income to the purchase, construction, or rehabilitation of homes.

Banks 370

Banks Loans Equity Finance 370

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. Sarah Wheeler: How does being an originator inform how you think about technology?

Loan Officer 370

Loan Officer Loans Technology Mortgages 370

Housing Wire

APRIL 3, 2024

Per the lawsuit, these actions led to a typical borrower paying $865 more in closing costs for a UWM loan in 2023 than for the median wholesale lender, or more than four times the difference in 2020. Your technology has to be fantastic every day. And even those offerings generally do not convert into actual savings for clients.”

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Loans Loan Officer Mortgages Closing costs 482

Housing Wire

MAY 14, 2024

We first used the word “junk fees” two years ago in a letter to the CFPB to characterize the click fees that ICE Technology Partners routinely charges our lender members (and ultimately the borrower) – just to access the data from the same vendors our lenders retain! While some criticized this announcement, CHLA applauded it.

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FHA loan Loans Title Banks 427

Housing Wire

FEBRUARY 23, 2023

QuickQual is an adjustable pre-approval letter that gives payment and closing cost scenarios and the option to update agent letters. The company was featured in HousingWire’s Tech 100 in 2022. Its other products include QuickQual , which is used by lenders in 42 states.

Pre-approval 381

Pre-approval Loans Closing costs Branding 381

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.

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Investor Finance MLS Closing costs 396

Housing Wire

MARCH 20, 2024

Many buyers struggled with the financial burden of covering closing costs , making it difficult or impossible to also cover the compensation for agent representation. With the advancements in technology, finding homes online has become easy and straightforward.

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Debt-to-income ratio Agents Equity Closing costs 497

Housing Wire

FEBRUARY 22, 2024

SW: Looking at the mortgage space, what are some of the challenges when it comes to technology? And it seems like with technology , even when times are good, a lot of companies aren’t interested because there’s so much money to be made. But a lot of these trusted systems run on distributed ledger technology.

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Technology Banks Mortgages As-is 344