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CFPB warns consumers about home equity contracts, comparing their features to reverse mortgages

Housing Wire

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.

Contracts 370
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Navigating movement in the mortgage industry series: Due diligence in mergers and acquisitions

Housing Wire

The checklist covers such broad areas and topics as: organizational structure; litigation; compliance ; intellectual property; real property; financial and tax; labor and employment; material, vendor, and software contracts; insurance; and customers. Patent & Trademark Office. One particular concern relates to software licenses.

Mortgage 418
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Rising insurance costs, ample inventory create a unique market in Southwest Florida

Housing Wire

Local real estate professionals attribute the slower market to a variety of factors including higher home prices, which have remained steady despite the slowdown, higher interest rates , and rising costs for homeowners and flood insurance. homeowners insurance policy was roughly $1,700 in 2023. In comparison, the average U.S.

Insurance 448
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Fraud risk continues to rise even as the market contracts

Housing Wire

According to a Q2 analysis by MISMO-certified wire and prevention fintech FundingShield , there was a 40.69% increase in wire-related issues compared to Q1 2022, as well as a 107% increase in closing agent insurance policy coverage gaps and a nearly 10% increase in CPL issues.

Contracts 368
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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

Arguably, one of the most important functions of a real estate agent is to guide and be a subject matter expert to clients through the buying and selling processes. Put simply, a good agent is a sherpa who knows every step of the journey and expertly leads their client up the path. How do real estate agents get paid?

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Home sale cancellations hit record high in January

Housing Wire

Florida is experiencing a slowdown as the state faces rising home insurance costs, HOA fees, and increasing risks from natural disasters. Its worth checking in with the listing agent about a week after the house goes under contract, said Alison Williams, a Redfin Premier agent in Sacramento. Las Vegas 17.9% Houston 17.8%

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The “Big Four” take on the upstarts in title insurance

Housing Wire

One of our big goals at Blueprint Title is to shrink the title insurance business from an $18 billion business to a $10 billion business,” Berneman, the company co-founder and CEO. “We share of the market controlled by small, independent title insurance companies. of the market, should be too concerned about the rise of the little guy.

Insurance 417