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RealReports enhances property document analysis with new multimodal AI feature

Housing Wire

The new feature harnesses the capabilities of multimodal artificial intelligence to instantly analyze and summarize complex property documents, including inspection reports, appraisals and seller disclosures. It pulls information from more than 30 data providers. It pulls information from more than 30 data providers.

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NRMLA, MBA provide comments on HECM application, origination documents

Housing Wire

In particular, HUD Form 92900–C is designed to “collect loan-level data that is needed for insuring purposes and not found on Fannie Mae form 1003,” according to the original announcement. Following an announcement that the U.S. HUD also plans to replace its use of some internal forms, including one used in conjunction with U.S.

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Unwrapping what to expect in your home inspection, appraisal and closing

Housing Wire

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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HUD publishes several changes to reverse mortgage handbook section

Housing Wire

While there are dozens of changes published throughout the full document, Section II B that encompasses guidance for the HECM program received numerous updates on several different topics. 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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How to avoid home closing delays in 2022

Housing Wire

HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays. HW: How can lenders help homebuyers avoid closing delays?

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FHA reiterates loss-mitigation options as Helene devastation continues

Housing Wire

In the wake of the devastation caused by Hurricane Helene, the [FHA] reminds mortgagees about its guidance for originating and/or servicing FHA-insured forward mortgages and [HECMs] in locations in the U.S. handbook, including inspection and repair escrow environments for loans that have yet to close.

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Porch acquires mortgage software firm Floify for $90M

Housing Wire

In 2021, Floify’s software, which streamlines the loan origination process by allowing document sharing, and communication between LOs and real estate agents, has helped over 77,000 mortgage applications close each month, according to Porch. The acquisition cost Porch about $76.5

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