Appraisal Buzz

AUGUST 22, 2024

The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac (the GSEs) are issuing updates to the Private Mortgage Insurer Eligibility Requirements (PMIERs) –the financial and operational standards that private mortgage insurance companies must meet to provide insurance on mortgage loans acquired by the GSEs.

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Insurance Finance Mortgage Real Estate 358

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

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Lending Advertising Mortgage Government 386

Housing Wire

APRIL 25, 2024

Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) counseling program was cited as an example. This program provides counseling to all applicants of the federally insured reverse mortgage program, the Home Equity Conversion Mortgage program,” the report stated.

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Mortgage Government Law Insurance 353

Housing Wire

JUNE 26, 2024

Reverse mortgage products have a lot of potential utility for older American homeowners, but many consumers remain skeptical of their usefulness due to lingering reputational problems and institutional aversions, despite becoming more regulated in recent years. And so, in 2013, 2015, 2017, we saw a lot of changes.

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Mortgage Insurance Government Tools 377

Housing Wire

MAY 19, 2022

The Community Home Lenders Association (CHLA) sent a letter, signed by 41 independent mortgage banks, to the Federal Housing Administration (FHA) on Wednesday urging the administration to cut mortgage insurance premiums. But not everyone is on board. Gordon has supported a premium reduction in the past.

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Insurance Mortgage Development 444

Housing Wire

AUGUST 29, 2024

focused mortgage lender NewDay USA has reached an agreement with the Consumer Financial Protection Bureau (CFPB) over allegations that it provided misleading and incomplete cost comparisons to borrowers seeking cash-out refinance loans , the parties announced on Thursday. mortgage industry.” . mortgage industry.”

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Loan Officers Law Mortgage Insurance 374

Housing Wire

OCTOBER 27, 2023

One of the most important roles we play at ALTA is strongly encouraging buyers to shop around for their title insurance company. The Real Estate Settlement Procedures Act (RESPA) ensures that homebuyers always have the legal right to consider alternative title insurance providers and can never be forced into using a particular provider.

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Insurance Real Estate Buyers Real Estate Agent 510

Housing Wire

OCTOBER 14, 2022

The Mortgage Bankers Association and fellow trade group the Black Homeownership Collaborative have joined the chorus of voices imploring HUD Secretary Marcia Fudge to reduce mortgage insurance premiums (MIPs) and suspend life-of-loan requirements for borrowers with FHA-insured loans.

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Insurance Mortgage Realtors Real Estate 440

Housing Wire

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. Shocked employees didn’t receive their last paychecks.

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Mortgage Investors Legal Loan Officers 418

Housing Wire

JANUARY 30, 2023

Cenlar FSB, the second-largest mortgage servicer and largest sub-servicer in the U.S., Daras’ professional career spans more than four decades in the banking and mortgage banking industry. He left Cenlar in 1990 to join New York City-based Dime Bancorp as its chief financial officer but returned to Cenlar in 2015. territories.

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Clients Insurance Mortgage Finance 380

Housing Wire

MARCH 10, 2022

Lakeview Loan Servicing , one of the nation’s largest issuers of Ginnie Mae securities, is making a play in the private-label securities market by sponsoring an offering backed by a pool of 2,192 Federal Housing Administration -guaranteed mortgages valued at $423.6 A fourth such transaction, a $370.7 A fourth such transaction, a $370.7

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Mortgage Insurance Government Investors 323

Housing Wire

NOVEMBER 18, 2022

The most recent example of a decline in districts to ll resulted from the 2015-2016 merger of the Seattle and Des Moines institutions into a Des Moines District Bank. When the FHLB Act was adopted in 1932, membership was limited to mortgage lenders (e.g., Short-term advances are not so restricted.

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Legal Law Insurance Finance 312

Housing Wire

FEBRUARY 1, 2024

The evolving landscape The overall landscape of the reverse mortgage market is subject to change despite the reviewers’ attention to detail and sound predictions, the report said. Other examples include the introduction in 2015 of the life-expectancy set aside (LESA) account and the 2017 principal limit factor changes.

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Mortgage Business Development Insurance 384

Housing Wire

JUNE 6, 2022

At CoreLogic, Nothaft headed the office of the economist, providing analysis, commentary and forecasting trends in global real estate, insurance and mortgage markets. Prior to joining CoreLogic in 2015, Nothaft had a nearly 30-year career at Freddie Mac, where he was most recently the chief economist. Henry Wallich.

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Real Estate Housing Market Insurance Mortgage 474

Housing Wire

MAY 10, 2022

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). Million — [Tampa, Florida].

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Mortgage Marketing Finance Insurance 412

Housing Wire

JULY 18, 2022

The Federal Housing Administration ’s (FHA) decision to withhold a mortgage insurance premium cut has confounded mortgage policy experts and industry stakeholders. Ed Golding, who was FHA commissioner from 2015 to 2017, said it’s “likely” budget issues are holding up a MIP reduction.

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Insurance Transportation Mortgage Government 465

Housing Wire

APRIL 18, 2022

When the COVID-19 pandemic shut the country down in 2020, title and settlement professionals were deemed essential and continued to help consumers purchase homes and refinance mortgages. Protecting homeowners is always at the center of the title insurance industry’s core values: to lead, deliver and protect. Fee disclosure is robust.

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Insurance Real Estate Agent Development Real Estate 396

Housing Wire

AUGUST 25, 2021

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. The argument for the higher threshold for claims arose following a 2015 Supreme Court decision which upheld the disparate impact regulation.

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Legal Insurance Development Mortgage 395

Housing Wire

NOVEMBER 18, 2022

and is used by title insurance underwriters, title agents and closing attorneys. . Black Knight was a subsidiary of FNF that went public in an IPO in 2015. Black Knight is preparing to be acquired by ICE, the other behemoth in the mortgage data space. billion, which valued the company at $85 per share. billion, down from $2.9

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Insurance Investors Mortgage Technology 422

Housing Wire

OCTOBER 1, 2022

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. million consent order with Trident Mortgage Co., Attorney General Merrick Garland said in a statement.

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Law Loan Officers Lending Advertising 420

Housing Wire

MAY 21, 2023

The 10-year yield rose noticeably, sending mortgage rates near 7% right in the heart of the spring selling season. Mortgage rates rose last week as we started the week at 6.55% but ended at 6.90%. NAR: Total inventory: The 10-year yield and mortgage rat es A crazy week in the 10-year yield shot mortgage rates higher.

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Housing Market Marketing Inventory New Listings 506

Housing Wire

OCTOBER 25, 2022

Recession is coming, according to the Mortgage Bankers Association. . The economic dislocation will bring mortgage originations down to $2.05 “The slowdown in housing activity and higher mortgage rates will quickly cut the rate of home-price growth. “Mortgage insurers are forecasting between $1.3

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Mortgage Contracts Insurance Business 321

Housing Wire

OCTOBER 14, 2022

The Mortgage Bankers Association announced Thursday it promoted Joel Kan to vice president, deputy chief economist. Kan has worked at the association since 2006, rising from survey specialist to associate vice president of economic and industry forecasting in 2015.

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Project Management Real Estate Insurance Mortgage 362

Housing Wire

NOVEMBER 17, 2022

This debate comes at a time when mortgage rates have doubled since the beginning of the year, from around 3.5% to around 7%, giving new urgency to the need to keep mortgage fees down on all federal agency mortgage programs — not just FHA but also VA , Fannie Mae and Freddie Mac. 1 way most regular Americans build wealth.

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Mortgage Finance Insurance Design 285

Housing Wire

OCTOBER 14, 2020

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. This setup lets a consumer compare quotes from several insurers, including Progressive, with only one click. market for homeowners’ insurance.

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Insurance Technology Lending Real Estate Agent 383

Lamacchia Realty

FEBRUARY 22, 2023

The Department of Housing and Urban Development announced the reduction of the FHA Mortgage Insurance Premium (MIP) today. The down payment hasn’t changed but the cost of the monthly mortgage insurance has decreased putting more money back in the homeowners’ pockets, making homeownership more affordable. to $176.92.

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Insurance Development Buyers Realty 74

Housing Wire

SEPTEMBER 13, 2021

Title insurance giant Old Republic International will pay $1 million to settle charges that it entered into “no-poach” agreements to stifle labor competition, the New York Attorney General’s Office said late last week. Think of it like a mortgage lender having wholesale and retail channels. Presented by: Radian.

Insurance 276

Insurance Retail Clients Business 276

Housing Wire

AUGUST 8, 2022

Cenlar FSB , the nation’s second-largest mortgage servicer and largest sub-servicer, has installed new leadership following the retirement of its president, CEO and chairman Greg Tornquist. year over year, according to Inside Mortgage Finance data. A look at key mortgage claims challenges servicers are facing.

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Human Resources Finance Legal Insurance 342

Housing Wire

JULY 27, 2021

Unlike lenders or servicers for Fannie Mae and Freddie Mac , Ginnie Mae issuers are responsible for passing along payments to investors after borrower equity, federal agency and mortgage insurance resources are exhausted. If those issuers fail, Ginnie Mae is ultimately responsible for making those investor payments.

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Insurance Finance Government Mortgage 459

Housing Wire

APRIL 30, 2023

The other focus should be where mortgage rates go; only a little happened last week. Mortgage rates, once again, didn’t move too much this last week; the bottom level range was 6.50%, while the top was 6.67%; we ended the week at 6.59%. The fear of not having an increase in inventory this spring should be put to rest.

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Inventory Housing Market Marketing New Listings 523

Housing Wire

OCTOBER 12, 2022

The American Land Title Association’s (ALTA) 2021 Wire Fraud and Cyber Crime Survey noted in a third of all real estate and mortgage transactions, title insurance professionals reported cyber criminals trying to deceive employees into wiring money to fraudulent accounts. . To boot, check fraud is also on the rise.

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Architecture Real Estate Training Insurance 399

Housing Wire

JUNE 8, 2022

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. Businesses and entire industries tanked during the pandemic, but it created an ideal environment for mortgage tech companies, some of which rode the wave to banner years and historic growth.

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Mortgage Technology Loan Officers Investing 368

Housing Wire

JULY 30, 2023

Strong labor data pushed up mortgage rates and purchase applications fell week to week. However, even with all that drama last week, we ended below 4% on the 10-year yield, and mortgage rates ranged from 6.99% to 7.12%. Tracking housing inventory this summer is like watching a zombie slowly walking on the beach. If we start from Nov.

Housing Market 360

Housing Market Marketing Inventory New Listings 360

Housing Wire

MAY 14, 2023

Mortgage rates fell last week as we started the week at 6.65% and got as low as 6.49% to end the week at 6.55%. When you consider that a home seller is a natural homebuyer as well, you can see why the housing market broke after mortgage rates went on a roller coaster last year. That is no longer the case after the second half of 2022.

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Housing Market Marketing Inventory New Listings 469

Appraisal Buzz

JUNE 7, 2024

As Director, Chopra is also a member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and the Financial Stability Oversight Council (FSOC). Chopra previously served at the CFPB from 2010-2015. The CFPB recently launched an inquiry into junk fees that are increasing mortgage closing costs.

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Contracts Insurance Legal Business 195

Housing Wire

JUNE 4, 2023

Mortgage rates fell last week after the debt ceiling issues were resolved, but the damage from higher rates took its toll on purchase application data again. Here are the number of new listings for this week over the last several years: 2021 72,643 2022 71,113 2023 55,226 With higher mortgage rates, active inventory should be growing more.

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Inventory Housing Market Marketing New Listings 452

Appraisal Buzz

AUGUST 7, 2024

Notably, the number of renter households saw its largest gain since 2015, with a 2.8% In June, the median multi-family dwelling asking rent increased by less than 1% year-over-year, whereas the median monthly mortgage payment rose by approximately 5%. increase in the first quarter of 2024.

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Insurance Construction Mortgage Marketing 195