Remove Government Remove Investors Remove Property Taxes
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CFPB Acts Against Contract-for-Deed Investors Targeting Low-Income Borrowers

Appraisal Buzz

The CFPB has found that investors are targeting people of faith with predatory mortgage products that set the borrower up to fail,” said CFPB Director Rohit Chopra. The government is taking action to ensure that these products do not turn the dream of homeownership into a nightmare.” To read the full advisory opinion, click here.

Contracts 367
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What is portfolio cleansing?

Housing Wire

This shift is happening because of the increased willingness of private investors to invest in servicing and the government sponsored enterprises’ focus on reducing their footprint. Step 1 – The full population from the portfolio transfer was run through CoreLogic’s databases to check the property tax status.

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What Metaverse real estate means for mortgage professionals

Housing Wire

There is no public guidance from state or federal regulators at the time of this writing as to whether mortgages for virtual real estate are governed by traditional laws and regulations that govern traditional mortgages. Section E: Yay, no government fees… for now! As for property taxes, well, you can kiss that goodbye.

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Clear Capital launches APIs to make adopting modern valuations solutions easier 

Housing Wire

Property valuation API and risk assessment API, released late last month, connect directly into existing systems through a single integration for lenders, investors and system providers, the company said in a news release. . Using automated valuation models “leads to relatively lower racial gaps,” according to Freddie Mac. .

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Voxtur promotes Ryan Marshall to CEO

Housing Wire

Voxtur serves investor, lender, servicer and government agency clients throughout North America with offices in Tampa and Toronto. He has “a wealth of experience within the U.S.

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Opinion: Title and settlement fees aren’t a barrier to homeownership

Housing Wire

The borrower’s largest life-of-loan costs are the property taxes and recording fees paid at closing plus the accumulated cost of annual property taxes paid over the life of the loan. It’s notable, for example, that any discussion about taxes and government fees baked into closing costs has been absent in this debate.

Insurance 459
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Opinion: Improving housing affordability without exposing homebuyers to more risk

Housing Wire

A homeowner’s largest life-of-loan costs are property taxes and recording fees ($29,675), fees paid to the mortgage-backed security (MBS) investor ($28,779), fees paid to the lender ($14,026), homeowner’s insurance ($9,279) and GSE fees (7,705).

Insurance 453