Housing Wire

JULY 24, 2024

What is happening with condos is that we have the condo safety act that was implemented, and the milestone inspections, and then the reserve fundings that are going to be required,“ Pithers added. Then those milestone inspections are forcing associations to do work that makes their complexes more attractive as an insured risk.

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Housing Wire

FEBRUARY 28, 2025

With less competition, some buyers are backing out during the inspection period, hoping for a better deal. High mortgage rates and Home Prices : The average 30-year fixed mortgage rate hit 6.96% in January, an eight-month high. Many are opting to wait out market instability before committing to a purchase. Las Vegas 17.9%

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Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Home Inspection. Have you budgeted for closing costs?

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Housing Wire

JANUARY 26, 2021

People often confuse the home appraisal with the home inspection. Appraisals are estimates of a home’s value — and they’re typically required before you can close on your mortgage loan. Inspections, on the other hand, are designed to assess the condition of the home, and they’re 100% optional for the buyer.

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Housing Wire

NOVEMBER 18, 2020

In most cases the in-person inspections required by GSEs, FHA and VA policies can continue per policy; however, adjustments to policy compliance are often needed to get the loan underwritten. When inspections are safe and feasible, appraisers are wearing personal protective equipment (PPE) such as masks, gloves and shoe coverings.

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Inspection Technology Loans As-is 397

Housing Wire

NOVEMBER 4, 2024

Mortgage butterflies As confident and comfortable as I was in the home search process and the paperwork involved in signing on with an agent, I was not feeling great about the mortgage preapproval and application process. But in another stroke of luck, I have a cousin who is a loan officer at Guild Mortgage.

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Keeping Current Matters

JANUARY 26, 2021

It’s also a different step in the process from a home inspection , which assesses the condition of the home before you finalize the transaction. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”. Home Inspection. Home Appraisal.

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Inspection Lending Banks Mortgages 336

Housing Wire

APRIL 24, 2024

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a new edition of its Supervisory Highlights publication, which includes the agency’s actions to combat what it calls “ junk fees charged by mortgage servicers , as well as other illegal practices.”

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Mortgages Inspection 476

Housing Wire

MAY 20, 2024

which includes numerous updates to its guidance for the Home Equity Conversion Mortgage (HECM) program overseen by the Federal Housing Administration (FHA). This explains that damage inspections may be completed by “any FHA Roster Appraiser in good standing with geographic competence in the affected market.”

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Mortgages Inspection Residential Equity 459

Housing Wire

MAY 2, 2021

First American offers an integrated suite of staff and network appraisal products and services, including standard appraisals, collateral inspection services and hybrid valuations through First American Mortgage Solutions’ Appraisal Management Company (AMC) and the First American Staff Appraiser Company.

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Technology Mortgages Inspection Investor 457

Keeping Current Matters

OCTOBER 25, 2021

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road. Home Inspection. But is that the best move?

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Inspection Loans Mortgages As-is 300

Housing Wire

AUGUST 13, 2024

Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. The CFPB has found that investors are targeting people of faith with predatory mortgage products that set the borrower up to fail,” CFPB Director Rohit Chopra said in a statement.

Mortgages 481

Mortgages Land Lending Finance 481

Housing Wire

AUGUST 9, 2022

AIQ by ICE Mortgage Technology. AIQ by ICE Mortgage Technology , is an omnichannel solution that leverages artificial intelligence that enables lenders, investors, and servicers to automate manual workflows and increase productivity and quality, while reducing risk and boosting ROI. Product Fast Facts. #1. Get More Info.

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Technology Mortgages Inspection Investor 416

Housing Wire

MARCH 8, 2023

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers.

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Housing Wire

OCTOBER 5, 2021

This is slightly higher than the number of buyers who reported purchasing a home without a mortgage (68%). One such way a buyer could make their offer more appealing is by waiving an inspection. Overall, sellers were typically white (72%) and selling in suburban areas (51%) in the South (41%).

Inspection 545

Inspection Finance Mortgages As-is 545

Housing Wire

OCTOBER 1, 2020

Realtor.com and Rocket Mortgage , two of the biggest companies in the digital real estate space, have formed a key advertising partnership that their competitors are sure to notice. We send them a link to get digitally preapproved through Rocket Mortgage, and we alert the agent that they’re going through this flow. .”

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Housing Wire

NOVEMBER 2, 2020

First, Federal Reserve actions loading taxpayers with debt that now exceeds total GDP, which drove mortgage rates to historic lows. In short, they are getting the best credit quality borrowers in the mortgage market with confirmed fresh credit data. Second, agency MBS is one of two Triple-A rated instruments in housing on this earth.

Mortgages 537

Mortgages Marketing Loans As-is 537

Housing Wire

DECEMBER 11, 2020

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. Are borrower-assisted inspections here to stay? The issue of appraisers needing to inspect homes as part of the mortgage process became a concern as the virus continued to spread throughout the nation.

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Lending Inspection Mortgages Finance 540

Housing Wire

OCTOBER 1, 2024

The Federal Housing Administration (FHA) on Tuesday issued an informational notice to mortgage lenders in which it reiterates various loss-mitigation options afforded to companies and borrowers who are engaged in FHA lending programs in presidentially declared major disaster areas (PDMDAs).

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Inspection Pre-approval Loans Principal 476

Housing Wire

SEPTEMBER 9, 2021

From hybrid appraisals to virtual showings to RON/RIN, the digital mortgage process took center stage over the last year. Why should the mortgage process be any different? The post Mortgage lenders need to lean in to consumer expectations appeared first on HousingWire. if the option was available to them.

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Mortgages Technology Inspection Closing 448

Housing Wire

OCTOBER 28, 2021

The firm announced Wednesday that it has acquired Denver-based digital mortgage automation and point-of-sales software company Floify. The post Porch acquires mortgage software firm Floify for $90M appeared first on HousingWire. The acquisition cost Porch about $76.5 Floify was founded in 2012 by Dave Sims, who is CEO of the company.

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Mortgages Loan Officer Loans Investor 418

Housing Wire

FEBRUARY 19, 2025

Secure a mortgage pre-approval As a rule of thumb, its best to have your clients obtain a mortgage pre-approval prior to setting up any searches and conducting property tours. Clarify key steps like inspections, appraisals, and the importance of meeting deadlines and any impacts of missing them.

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Closing Earnest money deposit Due diligence Pre-approval 228

Housing Wire

MARCH 22, 2021

Interestingly, Redfin data showed waiving the inspection contingency and conducting a pre-inspection – meaning the buyer conducted an inspection before making an offer – had no significant impact on whether a prospective buyer wins a bidding war. That’s likely because those strategies are so common in a competitive market.

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Inspection contingency Inspection Sales Mortgages 545

Housing Wire

SEPTEMBER 5, 2024

mortgage market in 2023, up from 14.3% Because FHA accepts lower credit scores , higher debt-to-income ratios and lower down payments than most conventional mortgages, first-time buyers have relied on them due to the ongoing affordability challenges in today’s housing market from elevated prices and mortgage rates. of the U.S.

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Housing Wire

JUNE 27, 2023

Automated mortgage technology provider Lender Toolkit announced this week that it has integrated with Reggora , an appraisal management software company that focuses on modernizing residential real estate valuations for mortgage lenders. That savings can be passed on to borrowers.”

Mortgages 359

Mortgages Inspection Technology Loans 359

Housing Wire

MARCH 18, 2024

Intercontinental Exchange (ICE) Mortgage Technology introduced two new tools, Validate ROV and Validate Selector, to its growing suite of property valuation solutions, the company announced on Monday. Regulators are paying close attention to valuations for many valid reasons.

Technology 447

Technology Inspection Investor Mortgages 447

Housing Wire

JUNE 7, 2022

From mortgage origination to servicing, companies are constantly grappling with high volume and stringent regulatory oversight while managing a large cohort of vendor partners. Smaller mortgage originators often deal with this problem by throwing more people at it. We’re seeing mortgage executives and workers retiring at record rates.

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Lending Mortgages HR Title 381

Housing Wire

JULY 23, 2024

That’s according to June’s existing-home sales data from the National Association of Realtors (NAR), which reflect the problems that have hampered housing markets since mortgage rates began to rise in 2022. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.”

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Sales MLS Inspection Mortgages 508

Housing Wire

SEPTEMBER 22, 2023

But with rising mortgage costs and high interest rates , refinancing doesn’t always make the most sense. The AAR consists of an onsite property inspection completed by a local and licensed real estate agent or broker. Borrowers everywhere are seeking new ways to tap into their home equity.

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Equity Inspection Technology Residential 459

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. Getting approved for a mortgage depends largely on the outcome of an appraisal. Mortgage lenders want to make sure the property is worth the sale price.

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Housing Wire

MAY 6, 2024

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). We applaud HUD’s efforts in trying to change the requirements for HECMs to be more in line with the requirements of the forward mortgage industry.

VA loan 448

VA loan Principal Residential Loans 448

Housing Wire

AUGUST 8, 2023

Jaro Jaro technology is transforming the mortgage industry by offering appraisers a more efficient way to deliver final inspections right from the field. JaroInspect is the industry’s only compliant software that generates a 1004D inspection from the field. Get More Info

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Inspection Technology Industrial Mortgages 370

Housing Wire

JULY 23, 2024

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. In spite of rapidly rising inventory, high prices and mortgage rates are still keeping buyers at bay. of homes that went under contract. In his market, 17.6% of buyers canceled in June.

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Inspection Mortgages Agents Marketing 459

Housing Wire

JANUARY 14, 2022

Collateral valuation is a critical component of mortgage lending and the home sales process. During the course of the pandemic, mortgage professionals have seen origination volumes for refi and purchase skyrocket as they have simultaneously faced challenges of accessing properties and completing in-person inspections.

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Inspection Lending Technology Industrial 434

Housing Wire

NOVEMBER 8, 2023

Fannie Mae’s program, which began earlier this year, is part of its ongoing efforts to modernize the valuation component of the mortgage industry. During the last refi boom, some appraisers were scheduling inspections as far as four to six weeks out, which was slowing down the entire loan transaction.

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Inspection Title Loans Industrial 419

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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Inspection Technology Loans Mortgages 435

Housing Wire

APRIL 2, 2024

Larry Steinway, VP producing area sales manager at New American Funding He joins NAF from Revolution Mortgage , where he served as branch production sales manager and SVP of mortgage lending for a little over a year. NAF, the 31st largest mortgage lender in America in 2023, according to Inside Mortgage Finance, has been in growth mode.

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Loan Officer Loans Finance Mortgages 447