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Two Southern banks complete mortgage eNote transfer

Housing Wire

eNotes contain the same information as a traditional mortgage note – on paper – but they are created, signed and stored digitally. Officials said 11 federal home loan banks set servicing system requirements relating to eSignatures and eNote documentation in early 2020 – the culmination of three years of development.

Mortgage 372
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ALTA: Protecting property rights with title insurance

Housing Wire

For title insurance, a homebuyer only needs to pay a one-time fee at closing, which is typically issued in the amount of the real estate purchase price. For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage.

Insurance 493
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Classifying Mortgages and HOA Super Liens

Appraisal Buzz

The super priority lien of an association has been the source of much litigation, across multiple jurisdictions, between associations and mortgage holders. Factually, a group of entities known as “Fendee” built a housing development that included a homeowner’s association. Said mortgage was recorded on or about September 5, 2019.

HOA 221
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Lenders must address repurchase risk before they go bust

Housing Wire

The added cost pours salt in the wound for credit unions, banks, and independent mortgage bankers , who are already recording average pre-tax losses of $534 per loan origination. Despite these developments, buyback costs remain a pressing problem for many lenders.

Investors 370
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Going to Extremes

Appraisal Buzz

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks. ICON, an Austin based firm, has developed a 3D printed wall system.

HOA 370
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Title insurers reckon with attorney opinion letters

Housing Wire

Now, thanks to United Wholesale Mortgage (UWM) CEO Mat Ishbia’s recent announcement that his company is hiring attorneys to review title and closing documents, AOLs and the risks associated with them, have been a hot topic at this year’s ALTA One conference. We are protecting the American Dream,” Tomb said.

Insurance 416
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Low Appraisal Fees in 2024

Appraisal Today

Request for Information Regarding Fees Imposed in Residential Mortgage Transactions AGENCY: Consumer Financial Protection Bureau. Mail / Hand Delivery / Courier: Comment Intake —Residential Mortgage Fees Assessment, Consumer Financial Protection Bureau, 1700 G Street NW, Washington, DC 20552. Include Docket No.