Housing Wire

OCTOBER 1, 2024

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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Appraisal Buzz

OCTOBER 1, 2024

Last year, National General Lender Services published an article highlighting that secondary perils, such as severe convective storms, wildfires, and river floods, are significantly impacting the insurance industry. Coupled with reforms in the state’s insurance code, the Florida insurance market is moving toward a more stable foundation.

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Housing Wire

OCTOBER 22, 2024

The temporary waiver, issued on Monday, applies to FHA-insured limited 203(k) mortgages closed on or before Aug. Another policy applying to PDMDAs typically requires “damage inspection reports“ for properties in these areas. This waiver applies only to the 14-day requirement to conduct the damage inspection report.

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Housing Wire

MAY 20, 2024

Property eligibility, HECM for Purchase In a section about property eligibility, HUD has added new language stating that if a “property has a water source that includes a mechanical chlorinator or is served by springs, lakes, rivers, or sand-point or artesian wells, the property is not eligible for FHA mortgage insurance.”

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Reconsideration of Value Mortgage Inspection Insurance 392

Appraisal Buzz

NOVEMBER 13, 2024

home ($501,500) adding $75,255, the upfront cost totals a staggering $107,230.

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Housing Wire

JANUARY 15, 2021

Porch, led by CEO Matt Ehrlichman, acquired home insurance company Homeowners of America , mover marketing and data firm V12 , home inspection company Palm-Tech and roofing contractor software company iRoofing. The big acquisition is for Homeowners of America, an insurance company that operates in six states and is licensed in 31 more.

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Housing Wire

APRIL 24, 2024

Examinations conducted by the bureau found mortgage servicers levied charges it deems “illegal,” including prohibited property inspection fees, the issuance of “deceptive” notices to borrowers, and violations of loss-mitigation rules. The agency also asserted that deadlines to pay property taxes and homeowners insurance were impacted.

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Appraisal Buzz

DECEMBER 11, 2024

In 2018, Fannie Mae launched its Pre-Foreclosure Property Preservation Program, offering mortgage servicers the opportunity for Fannie Mae to handle the management of inspection and preservation activities on delinquent loans secured by vacant properties. We are exploring batching inspections. How is AI impacting the sector?

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Housing Wire

NOVEMBER 27, 2023

Veev’s business model is innovative: it provides pre-inspected, fully cladded walls directly to homebuilders , ready for installation. Investors featured leading Israeli institutional investors, such as Migdal Insurance , Psagot Investment House , More Investment House , and Shavit Capital.

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Housing Wire

JULY 23, 2024

“Buyers often back out during the inspection period because they find something they don’t like, but affordability is really the underlying issue.

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Appraisal Buzz

MAY 6, 2024

Does the cost of homeowners insurance affect the price of a home? In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters. In some markets, the answer is increasingly yes.

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Housing Wire

DECEMBER 11, 2024

The Federal Housing Administration (FHA) on Wednesday published a final rule in the Federal Register, establishing a permanent program to sell seriously delinquent, FHA-insured single-family mortgages following the release of a proposal over the summer. The rule goes into effect on Jan. 10, 2025.

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Appraisal Buzz

AUGUST 23, 2024

As a result, Florida on May 26, 2022 signed into law Senate Bill 4-D, which requires structural inspections for condos and additional money to be set aside for repairs. Skyrocketing insurance costs: Florida is the epicenter of the housing insurance crisis. Condo fees are skyrocketing due to increased insurance costs.

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Housing Wire

OCTOBER 28, 2021

With the most recent acquisition of Floify, Porch will expand “its early access to high-intent homebuyers who need key services including insurance, warranty and moving services,” the company said in a statement.

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Housing Wire

JUNE 26, 2024

Not surprisingly, the state also has the highest average cost for homeowners insurance , and that cost is rising. That’s a lot of opportunity for property damage, and one reason homeowners insurance in Florida has gotten out of control. And insurance has more to cover than ever in some Florida counties.

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

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Appraisal Inspection Real Estate Agent Training 432

Housing Wire

JULY 18, 2024

Closing tasks such as appraisal , inspection, title insurance and homeowners insurance are done remotely. .” Foreign investors can purchase or refinance property through Waltz for a loan-to-value ratio of up to 70%. Buyers can also use Waltz to connect with a property manager or tax adviser.

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Housing Wire

MAY 9, 2022

HousingWire recently spoke with Westwood Insurance Agency’s Tom Kriby 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. Presented by: Westwood Insurance Agency. How to avoid home closing delays in 2022.

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Insurance Inspection Real Estate Technology 337

Housing Wire

DECEMBER 24, 2020

Porch, a home services marketplace with partners in insurance, utilities, home inspection and moving, plans to use the cash to pursue acquisitions to seize the opportunity in real estate. They’ll also focus on the home insurance industry. “As a company, we were able to find our way, which is certainly hard to do.

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Inspection Insurance Finance Valuation 344

Miller Samuel

NOVEMBER 30, 2018

Those are "PiW" loans or have a "Property Inspection Waiver." Liability insurers are already talking about a new target when things go south. of the actual value 50% of the time) and "hybrid appraisers" (which removes the appraiser from the actual inspection of properties) to develop a value opinion.

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Housing Wire

MAY 16, 2024

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. Proptech firm RealReports unveiled a new feature for its AI-powered assistant, Aiden, the company announced on Thursday.

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Real Estate Agent Real Estate Brokerage Sellers 364

Housing Wire

MAY 6, 2024

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. HUD also plans to replace its use of some internal forms, including one used in conjunction with U.S. Department of Veterans Affairs (VA) loans.

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Housing Wire

MARCH 8, 2023

These include excessive late fees and fees for unnecessary property inspections. The CFPB also described its findings related to unnecessary property inspection fees, stating that mortgage servicers charged consumers between $10 and $50 “for every property inspection visit to addresses that were known to be incorrect.

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Mortgage Inspection Law Contracts 313

Housing Wire

DECEMBER 1, 2021

eMerge, a company that offers alternative valuation solutions, including broker price opinions (BPOs), will allow Accurate Group to increase its broker network and leverage property inspection technology, the company said. This is the second acquisition for Accurate this year.

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Housing Wire

MARCH 1, 2023

And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.

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Housing Wire

NOVEMBER 30, 2023

The 203(k) Rehabilitation Mortgage Insurance Program helps borrowers purchase a home or refinance an existing mortgage and includes the cost of repairs or rehabilitation into one new mortgage. Changes also include increases to the maximum amount for other allowable fees, including for draw inspection, which is $375.

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Architecture Renovations Inspection Finance 438

Realtor

NOVEMBER 7, 2023

Costs of buying a home #2: Escrow account An escrow account is basically a way for your mortgage company to make sure you have enough money to cover related taxes and mortgage insurance. Home inspection : This is critical for home buyers. Expect to pay $300 to $500 for a home inspection, although cost varies by location.

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Housing Wire

JUNE 21, 2022

Selling a home typically involves nearly 10% in transaction fees between real estate agents , title companies, inspections, and other expenses. Instead, we prefer a “certified” pre-owned car that has gone through a multi-point inspection with all of the preventative maintenance up to date. Here’s one data point for you.

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Investors Renovations Inspection Government 418

Housing Wire

JANUARY 4, 2023

We sat down with ALTA CEO Diane Tomb to talk about ways title insurance companies can help their customers avoid falling prey to such attempts. This was going on pre-pandemic, but during the pandemic people were waiving their inspections, or were buying homes sight unseen. This interview has been edited for length and clarity.

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Housing Wire

NOVEMBER 4, 2024

In writing both offers, Angela and I made sure to fully disclose how I was expecting her to get paid , as well as all of my requests, including a home inspection contingency clause. I grew up in an 1850s farmhouse and was not going to skip an inspection or an appraisal contingency.

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Housing Wire

MAY 12, 2021

Still, I’m encouraged to see companies using digital tools and platforms — or creating their own — to take little bites out of a gigantic industry, from streamlining financing and inspections, to centralizing communication, to optimizing budgets and reducing project delays. Creating transparency.

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Construction Logistics Technology Real Estate 482

Appraisal Buzz

JANUARY 9, 2025

HUDs rule will reduce administrative burden by aligning utility allowances with other HUD programs, reducing duplicative inspections by accepting NSPIRE performed for other funding sources, reducing administrative burden of performing income determinations by accepting determinations performed for other funding sources.

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Appraisal Buzz

AUGUST 19, 2024

Home prices, insurance and mortgage rates have shot up so much that many people are either priced out of the market or weary of committing to such a high monthly payment,” said Julie Zubiate, a Redfin Premier agent in the Bay Area, where the majority of homes go for at least $1 million. “The In all but three of the 50 most populated U.S.

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Housing Wire

SEPTEMBER 8, 2022

OSC provides property-insurance verification services for KeyBank’s residential mortgage customers. The letter indicates the bank was only made aware on August 4 of the July 5 data breach at insurance-services provider OSC. KeyBank , which operates in 15 states, made its customers aware of the breach via a letter dated August 26.

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Housing Wire

APRIL 11, 2023

The escrow company is responsible for securing and managing all funds, instructions, documents, down payments and insurance policies involved in the transaction. They manage and oversee the entire process from the time a seller accepts an offer to the time the buyer takes possession of the property.

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Real Estate Legal Sellers Technology 359

Realtor

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Your home inspection reports. Bring the necessary documentation to closing.

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Appraisal Hub

DECEMBER 11, 2024

Thats why understanding home inspections and home appraisals is your first step to making a smart investment. Home Inspections: The Detective Work Think of a home inspection as your personal property detective. A home inspection helps you avoid that nightmare. These two processes are often misunderstood.

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