Housing Wire

MAY 20, 2024

Fraud and forgery claims represented more than one-fifth of the total dollars spent by title insurers on claims expenses and losses over the past decade, according to a study conducted by Milliman and commissioned by the American Land Title Association (ALTA). the risk of not purchasing a title insurance policy is far too high.”

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Housing Wire

SEPTEMBER 19, 2022

Mortgage tech startup Staircase says it has launched a tool that enables mortgage insurers to automate the underwriting of non-delegated mortgage insurance (MI) policies for lenders at about half of the typical cost. Which mortgage tech advancements are making the biggest impact? Presented by: Stavvy.

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Appraisal Buzz

OCTOBER 8, 2024

The average monthly housing payment hit all-time high in August, due mainly to spiking insurance costs, which have been rising at three times the rate of principal, interest and taxes, according to the latest Mortgage Monitor report from ICE Mortgage Technologies.

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Housing Wire

OCTOBER 3, 2024

For too long, the mortgage industry has used “the money gun” to deal with problems. Nowhere is that more evident than in the cost to manufacture a mortgage, which was more than $11,600 in the second quarter. It’s a challenge for the industry because of the high fixed-costs in manufacturing a mortgage, they said.

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Housing Wire

OCTOBER 4, 2023

Senate and the House of Representatives introduced new bills requiring title insurance on mortgages purchased by government-sponsored enterprises (GSEs). The new language prohibits GSEs from purchasing conventional mortgages for one- to four-unit properties unless the loans have primary-lien title insurance.

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Housing Wire

AUGUST 20, 2021

The mortgage market had a stunning year in 2020, with closed-end originations increasing by 65.2% from the year prior, a Home Mortgage Disclosure Act (HMDA) report published by the Consumer Financial Protection Bureau this week disclosed. But some of the industry’s same problems remained in 2020. million in 2020.

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Housing Wire

FEBRUARY 2, 2021

reported positive revenue for 2020, in large part because its title insurance arm made up for a decrease in general earned premiums. The Chicago-based company saw a total of $670 million in net income in 2020, excluding investment gains or losses, up 21% from $554 million in 2019. Old Republic International Corp.

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Housing Wire

SEPTEMBER 11, 2024

home in June 2022, you probably locked in about $1,400 a month in mortgage payments. Due largely to higher mortgage rates , that same home today would cost about $2,175 a month. Mortgage payments are only part of the affordability challenge. Other holding costs for real estate include taxes and insurance.

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Housing Wire

FEBRUARY 11, 2021

“Big Four” title insurer First American Financial Corp. billion in total 2020 revenue in its annual earnings report, released Thursday. Also announced by the title insurer was a total of $1.1 segment pretax margin of title insurance and services. Excelerate Capital acquires Castle Mortgage Corporation.

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Housing Wire

DECEMBER 9, 2021

year-over-year increase in title insurance premium volume during the third quarter of 2021 according to ALTA’s Market Share Analysis , published on Thursday. During Q3 2021, the title insurance industry generated $6.8 billion in title insurance premium, marking the industry’s best quarter on record. Presented by: ServiceLink.

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Housing Wire

SEPTEMBER 16, 2020

The title insurance industry saw a surge in premium volume in the second quarter of 2020, according to the American Land Title Association’s latest Market Share Analysis. It’s no secret that lending volume is up in 2020. In fact, the latest Fannie Mae forecast says mortgage lending will hit an all-time high of $3.9

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Housing Wire

JULY 25, 2023

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. HousingWire: What is the current home insurance market like? Back in 2020, insurance premiums averaged $1,637 in Texas.

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Housing Wire

MAY 13, 2021

Genworth Financial said it will delay the initial public offering of its recently rebranded mortgage insurance arm, Enact Holdings. ” The Richmond, Virginia-based company initially considered taking its mortgage insurance arm public to pay down $1 billion in debt coming due this year. .

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Housing Wire

OCTOBER 3, 2024

Taylor Stork, left, and Paulina McGrath of the Community Home Lenders of America lead a discussion at HousingWire’s IMB Summit in Dallas (Photo courtesy of Willie & Kim Photography) For too long, the mortgage industry has used “the money gun” to deal with problems. And that has consequences. ”

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Housing Wire

AUGUST 17, 2023

With the housing industry down across the board, upstart title insurance firms couldn’t maintain strong growth rates in 2023. Just three title insurance firms made the annual Inc. Nine title insurers made the list in 2022. The title insurance firm ranked No. The Plano, Texas-based title insurance firm was ranked No.

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Housing Wire

JANUARY 21, 2022

The consent order states that between a three-year period – from February 2017 through February 2020 – the bank’s risk assessment, internal controls, and training led to various violations. Flagstar Bank originated almost $40 billion in mortgage loans from January to September 2021, an 11.4% according to Inside Mortgage Finance.

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Housing Wire

DECEMBER 2, 2020

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. The message was clear: if you weren’t already invested in new digital mortgage experience, then your competition already beat you to the sale.

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Housing Wire

MAY 24, 2023

methodology in October 2021, thousands of homeowners in low-elevation coastal areas of the United States braced for federal flood insurance hikes. Recently released data from the agency shows that annual flood insurance premiums will eventually double or even triple for homeowners in some U.S. billion shortfall as of 2020.

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Housing Wire

MAY 3, 2021

Title giant Old Republic saw massive first quarter 2021 gains , reporting a 40% year-over-year growth in title insurance premiums and fees. billion for the first quarter 2021 — up from only $764 million in the first quarter of 2020. increase from the first quarter of 2020. million registered during Q1 2020. billion, a 12.4%

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Housing Wire

MAY 9, 2022

The American Land Title Association saw a nearly 36% year-over-year increase in title insurance premium volume in 2021 for a staggering $7 billion spike, according to the trade group’s Market Share Analysis , published Friday. The title insurance industry generated $26.2 with 20.5%; Old Republic National Title Insurance Co.,

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Housing Wire

JULY 25, 2023

In late June, Susan Gregory received an estimate for a new homeowner’s insurance policy on her 120-year-old St. Augustine, Florida property, after her previous insurer, United Property and Casualty, went insolvent earlier in the year. This is one of the easiest parts of Florida to insure and costs have gone up over 40%.”

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Housing Wire

SEPTEMBER 8, 2021

The Office of the Comptroller of Currency announced today that it is moving to gut the controversial Community Reinvestment Act (CRA) rule issued in 2020. In turn, the new rule was picked apart by fair housing advocates and the mortgage industry. The post OCC moves to rescind 2020 version of CRA rule appeared first on HousingWire.

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Housing Wire

JULY 19, 2021

Margaret Redman has been named director of national commercial services and senior regional underwriting counsel for North American Title Insurance Co. First American Data & Analytics’ solutions help lenders better identify fraud risks and errors in mortgage applications. but projects to be at 5% by 2023. Presented by: FADT.

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Insurance Investing Real Estate Agents 370

Housing Wire

JANUARY 9, 2024

One potential product that could assist in paying for LTC and its insurance could be a reverse mortgage, according to personal finance publication Kiplinger. Insurers currently offer few affordable options for those in the economic middle , according to Kiplinger. population grows older in the coming years.

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Mortgage Insurance Finance Clients 513

Housing Wire

JANUARY 31, 2021

After a tumultuous year of disruption and uncertainty in 2020, mortgage servicing continues to change in order to meet consumer needs, regulatory demands and best practices. These regulations regarding mortgage compliance change regularly which impacts how servicers manage their portfolios.

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Housing Wire

FEBRUARY 15, 2024

Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. In 2023, 60% of the calls were related to escrow accounts, specifically shortages due to rising property taxes or insurance costs.”

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Housing Wire

MARCH 15, 2021

The title insurance and settlement services provider was originally bought b y Solutionstar Holdings , an indirect wholly-owned subsidiary of Nationstar Mortgage Holdings (Mr. But Mayopoulos stands by his statement that virtually “every aspect of mortgage lending can be improved through digitization.”

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Housing Wire

APRIL 14, 2022

Fannie Mae generated some buzz last week when it announced it would be accepting written attorney opinion letters in lieu of a title insurance policy “in limited circumstances.”. Title insurance came to be because attorney title opinions were not adequate for the marketplace.

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Housing Wire

OCTOBER 7, 2020

Behind him, the recent financial crisis still cast a cautionary shadow over new business development, but ahead he saw opportunities for a client-centric, tech-focused family of companies in the title insurance and real estate settlement services industry. Now, at WFG’s 10-year anniversary, this vision holds even more relevance.

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Insurance Real Estate Technology Loan Officers 370

Housing Wire

APRIL 29, 2024

The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month. A reverse mortgage is a type of home equity loan extended, in most cases, to those who are 62 years of age or older,” the announcement stated.

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Mortgage Property Taxes Insurance Design 425

Housing Wire

AUGUST 29, 2024

Richelle Hopkins of Mutual of Omaha Mortgage has been a reverse mortgage professional for 20 years, moving to Arizona in 2006. At a recent WIFS Phoenix event, Hopkins was able to bring a discussion about reverse mortgages to attendees and sat down with HousingWire ’s Reverse Mortgage Daily (RMD) to share details about the experience.

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Finance Mortgage Real Estate Agent Insurance 374

Housing Wire

MARCH 8, 2024

Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. From the Fed: In the week ended March 2, initial claims for unemployment insurance benefits were flat, at 217,000. I wrote the COVID-19 recovery model on April 7, 2020, and retired it on Dec.

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Marketing Mortgage Transportation Insurance 505

Housing Wire

SEPTEMBER 13, 2024

At the end of August, the District of Columbia Housing Finance Agency (DCHFA) announced that it had relaunched its Reverse Mortgage Insurance & Tax Payment Program (ReMIT), which originally began in 2019 and expanded in 2020 before being halted at the end of 2021. They were very vocal that there was still a need,” she said.

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Mortgage Legal HOA Property Taxes 434

Housing Wire

DECEMBER 5, 2022

As the mortgage rate environment became increasingly volatile in August and early September, one in three title insurers reported order volume that was below or far below average. That’s according to PropLogix ’s fifth annual “State of the Title Industry” report.

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Housing Wire

JUNE 10, 2024

It’s also due to growing property taxes and homeowners insurance premiums as providers exited states where risks are elevated. Bankrate calculated the average annual cost of owning a single-family home based on items such as property taxes, homeowners insurance and maintenance costs, as well as energy, internet and cable bills.

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Property Taxes Insurance Home Value Inventory 488

Housing Wire

SEPTEMBER 28, 2021

Real estate brokerages can survive, but only if they seriously invest in mortgage. Today the value of a single mortgage origination is that of 10 real estate sales, said Chris Kelly, president and CEO of Ebby Halliday Companies. The post Can real estate brokerages survive without mortgage? Become a member today.

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Appraisal Buzz

JUNE 10, 2024

Bankrate compiled the typical costs of property taxes, homeowners insurance, and home maintenance, which was estimated to be 2% of a home’s value per year. This adds an additional $1,510 per month to a mortgage payment throughout the country. Insurance prices are another burden for homeowners. In all 50 U.S. In all 50 U.S.

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