Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021.

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Housing Wire

MARCH 22, 2021

And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%. Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021.

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Housing Wire

AUGUST 13, 2024

Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. Homebuyers shouldn’t receive different levels of protection just because of the type of financing they use to purchase their homes. To compare, during the Great Recession, the foreclosure rate was 15.6%

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Housing Wire

APRIL 2, 2024

Through NAF Cash, the lender purchases the buyer’s chosen home upfront with cash while the buyer can rent the new home while working on selling the old home or securing financing on the new one. NAF, the 31st largest mortgage lender in America in 2023, according to Inside Mortgage Finance, has been in growth mode.

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Housing Wire

DECEMBER 24, 2020

Porch, a home services marketplace with partners in insurance, utilities, home inspection and moving, plans to use the cash to pursue acquisitions to seize the opportunity in real estate. acquisitions, divestitures and financings) of the Company.” They’ll also focus on the home insurance industry.

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Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on Jan. 28, 2021.

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Housing Wire

OCTOBER 1, 2024

handbook, including inspection and repair escrow environments for loans that have yet to close. Properties in PDMDAs which have pending loans or endorsements, and which have been designated for individual assistance, must have “a damage inspection report that identifies and quantifies any dwelling damage.”

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Housing Wire

SEPTEMBER 19, 2023

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? Appraisals are required for homes financed with any type of mortgage. The appraiser inspects the property An appraiser visits the property and conducts a visual inspection of the home’s condition. Not necessarily.

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Housing Wire

OCTOBER 28, 2024

The Federal Housing Finance Agency has expanded the eligibility for alternative appraisal methods on purchase loans by increasing the maximum loan-to-value (LTV) requirement. The announcement was made on Monday during the Mortgage Bankers Association (MBA) Annual Convention & Expo in Denver, Colorado.

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Housing Wire

JULY 26, 2024

Whether you’re a year away from selling or hoping to close in a few months, a timeline is important for all parties, especially if your family member needs to sell an existing home, secure financing, and arrange moving details. Discuss financing. Does your buyer need to secure a mortgage ? Are they buying with cash?

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Housing Wire

JUNE 23, 2022

In order to continue protecting the healthy functioning of the housing finance market as the impact of COVID-19 lingers, issuers still need these prudent flexibilities to help manage persistent operational challenges,” said Alanna McCargo, president of Ginnie Mae, in a statement. 30, 2022.

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Housing Wire

JUNE 21, 2022

Selling a home typically involves nearly 10% in transaction fees between real estate agents , title companies, inspections, and other expenses. Instead, we prefer a “certified” pre-owned car that has gone through a multi-point inspection with all of the preventative maintenance up to date. There’s an even more subtle consideration.

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Housing Wire

NOVEMBER 30, 2023

Also, in the limited program, the FHA proposes that consultant fees be included in the financed mortgage, as it is permissible in the standard version. Changes also include increases to the maximum amount for other allowable fees, including for draw inspection, which is $375. In high-cost areas, however, it can go up to $75,000.

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Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. In March 2022 , the Federal Housing Finance Agency (FHFA) made hybrid appraisals a permanent fixture.

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Housing Wire

JANUARY 13, 2021

Are borrower-assisted inspections here to stay? The Federal Housing Finance Agency is currently considering implementing hybrid appraisals that enlist a third-party – typically an appraiser trainee, home inspector or real estate agent – to collect the data for a lender and certified appraiser once past the automated underwriting system.

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Housing Wire

MAY 12, 2021

Still, I’m encouraged to see companies using digital tools and platforms — or creating their own — to take little bites out of a gigantic industry, from streamlining financing and inspections, to centralizing communication, to optimizing budgets and reducing project delays. Creating transparency. Automating for efficiency.

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Housing Wire

JANUARY 27, 2023

Rent hike protections Nearly one-third of all rental units nationwide are financed with federally backed mortgages — and the blueprint may help curb some of the steep rent price increases for these properties. Fannie Mae provided more than $69 billion in debt financing to support the multifamily market last year.

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Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

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Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs).

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Housing Wire

JUNE 10, 2022

In 2016, New York passed a law establishing that lenders and servicers must inspect, secure and maintain zombie properties — which are defined as vacant and abandoned homes whose owners are behind on their mortgage payments. . billion, according to Inside Mortgage Finance. In 2019, then-Gov. The company also is No.

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Housing Wire

DECEMBER 8, 2020

Since our Series A financing earlier this year, Sundae’s marketplace has seen record growth,” Josh Stech, Sundae cofounder and CEO said in a statement. If the seller accepts the offer and an inspection is completed, Sundae offers a $10,000 cash advance prior to closing to help homeowners with moving costs and other expenses.

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Housing Wire

JUNE 22, 2023

In the letter , addressed to FHFA Director Sandra Thompson , the associations ask for “reasonable” building inspection requirements for aging infrastructure. The groups also offer feedback on how the Fannie Mae and Freddie Mac temporary requirements for condos and cooperative projects could be improved.

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Housing Wire

JULY 6, 2023

Fannie Mae’s guidance comes as an update to its Selling Guide in consultation with the Federal Housing Finance Agency (FHFA). The update will prohibit the sale of condo units or co-op shares in projects with unfunded repairs totaling more than $10,000 per unit.

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Housing Wire

OCTOBER 1, 2020

. “Clients don’t think of buying a home as multiple things, they don’t think, ‘Well I’ve got to get a mortgage, I’ve got to get title, I’ve got to get an appraisal, I’ve got to find a real estate agent, I’ve got to get an inspection,'” said Farner.

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Housing Wire

NOVEMBER 1, 2024

That can include being a housing market expert and advising clients on the best times to list or buy a home; having referrals handy for inspections, repairs, staging and photography; understanding the mortgage origination process; and more. This course covers real estate law, contracts, finance and ethics.

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Realty Biz

OCTOBER 19, 2022

The home inspection is part of the process that can lead to problems, but what does a home inspector do? The home inspection is the buyer's opportunity to get a professional opinion on the home's condition. If you are unsure about what does a home inspection cover, we take a look so that you are better informed. Others do not.

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Keeping Current Matters

NOVEMBER 30, 2020

Understand Your Finances. Freddie Mac explains: “ Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”.

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Housing Wire

NOVEMBER 27, 2023

Veev’s business model is innovative: it provides pre-inspected, fully cladded walls directly to homebuilders , ready for installation. Additionally, Veev also stopped paying interest payments on some of its properties in California.

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Housing Wire

SEPTEMBER 9, 2024

Like with the amount of earnest money deposit or including an inspection contingency, the amount the buyer is asking the seller to pay her agent is a term that impacts the strength of the offer,” Redfin chief economist Daryl Fairweather said in a statement.

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Keeping Current Matters

MARCH 15, 2021

Understand Your Finances. Freddie Mac explains that there are, however, certain contingencies you don’t want to forego: “ Resist the temptation to waive the inspection contingency , especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Bottom Line.

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Housing Wire

AUGUST 21, 2023

Year Founded Description 98 OptiFunder 4,767% 2018 Finance company helping independent mortgage lenders choose among funding options and streamline the process. 497 BOSSCAT 1,175% 2018 Digitizing home inspection data to create instant repair estimates for homeowners and real estate professionals. 4,105 FirstCloseFirstclose.

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Housing Wire

OCTOBER 26, 2020

With shared values that drive team member success and a vast portfolio of solutions across every step of the home-buying and financing process, Xome is uniquely positioned to help partners tackle the unforeseen challenges of this year. In these situations, Inspex can be paired with an appraiser-completed exterior inspection.

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Housing Wire

SEPTEMBER 9, 2021

From ordering food to buying goods to managing their finances, consumers can do it all from the palm of their hand, without ever having to leave their house. And why shouldn’t they? Why should the mortgage process be any different? if the option was available to them.

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Housing Wire

FEBRUARY 7, 2022

Our role in housing finance brings important responsibilities.”. In addition to strengthening fair housing guidance for its vendors, Fannie Mae is increasing inspections of properties in majority minority areas, and “retooling” its quality control methodology.

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Housing Wire

SEPTEMBER 19, 2024

While well-priced homes will still attract a lot of buyers, sellers need to be prepared to negotiate not only on price, but also on concessions, including home inspection and appraisal contingencies, and closing cost assistance,” Bright MLS chief economist Lisa Sturtevant said in a statement. In the West, sales fell more modestly — 2.7%

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Housing Wire

MAY 22, 2024

From waiving inspections and financing contingencies, to free leasebacks and uncapped escalation clauses, real estate agents say that buyers in Rhode Island are willing to do almost anything to get into a house right now. “It It is really frenetic,” said Rachael Dotson , a Rhode Island-based agent for Residential Properties Ltd.

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