Housing Wire

MARCH 8, 2023

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers.

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Mortgage Inspection Law Contracts 354

Housing Wire

OCTOBER 28, 2021

The firm announced Wednesday that it has acquired Denver-based digital mortgage automation and point-of-sales software company Floify. It also previously acquired insurance broker Elite Insurance Group , logistics and moving services firm Kandela and personal services company HireAHelpe r. The acquisition cost Porch about $76.5

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Housing Wire

JULY 23, 2024

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. In spite of rapidly rising inventory, high prices and mortgage rates are still keeping buyers at bay. of homes that went under contract.

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Buyers HOA Property Taxes Inspection 455

Lamacchia Realty

SEPTEMBER 5, 2024

THE NEW HOME BUYERS’ HOME INSURANCE CHECKLIST Buying your first home can be both an exciting and a daunting experience. As with most big purchases, choosing to work with an insurance company can protect you from financial hardship, but how do you choose the right coverage? What is Homeowners Insurance?

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Housing Wire

NOVEMBER 4, 2024

Mortgage butterflies As confident and comfortable as I was in the home search process and the paperwork involved in signing on with an agent, I was not feeling great about the mortgage preapproval and application process. But in another stroke of luck, I have a cousin who is a loan officer at Guild Mortgage.

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Housing Wire

JULY 18, 2024

real estate with a fast, digital mortgage process. Investors can partner with a real estate agent , mortgage broker or turnkey provider to locate a property of their choice. Closing tasks such as appraisal , inspection, title insurance and homeowners insurance are done remotely. Miami -based startup Waltz Inc.

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Housing Wire

MAY 6, 2024

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). We applaud HUD’s efforts in trying to change the requirements for HECMs to be more in line with the requirements of the forward mortgage industry.

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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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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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HOA Insurance Legal Fees Valuation 370

Inman

MARCH 8, 2023

The CFPB alleges mortgage servicers charged excessive late fees, assessed "fake" private mortgage insurance premiums and made homeowners pay for unnecessary inspections.

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Appraisal Buzz

NOVEMBER 13, 2024

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

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Lamacchia Realty

FEBRUARY 21, 2024

SELLERS, HERE'S WHAT TO DO IF A BUYER REQUESTS REPAIRS AFTER INSPECTION Selling your home and moving into a new one can be an exciting life chapter. A common issue that sellers should be prepared for is a buyer requesting repairs after the home inspection. Mortgage lenders will not pay more than they believe a house is worth.

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Genworth MI Blog

AUGUST 31, 2022

Enact’s David Foster recently spoke with MortgageOrb about how the COVID-19 pandemic impacted inspections and appraisals, the changes we see today, and other appraisal factors to consider. Q: How have inspections and appraisals been impacted since the beginning of the COVID-19 pandemic?

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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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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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Housing Wire

NOVEMBER 2, 2020

First, Federal Reserve actions loading taxpayers with debt that now exceeds total GDP, which drove mortgage rates to historic lows. In other words, the GSEs get to see refreshed income, FICO, and asset data, thus insuring that this pool of borrowers are survivors of the COVID degradation to the economy. The other is GNMA MBS.

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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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Hank Miller Team

NOVEMBER 22, 2022

There are significant differences between an appraisal and a home inspection, it’s best for every home buyer to become familiar with the purpose of each. In most cases, if a home buyer is getting a mortgage, an appraisal will be completed. What is a Home Inspection? They do not represent either buyer or seller.

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Appraisal Buzz

AUGUST 19, 2024

Home Values, Home Prices Up Despite Softening Demand Since the beginning of 2022, mortgage rates have been more than twice as low as they were during the pandemic, which has caused monthly housing prices to soar and decreased sales of homes. They’re spending too much money to rationalize not getting everything on their must-have list.”

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Housing Wire

JUNE 7, 2022

From mortgage origination to servicing, companies are constantly grappling with high volume and stringent regulatory oversight while managing a large cohort of vendor partners. Smaller mortgage originators often deal with this problem by throwing more people at it. We’re seeing mortgage executives and workers retiring at record rates.

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Miller Samuel

NOVEMBER 30, 2018

My friend and appraisal colleague Ryan Lundquist and I authored a petition on change.org to point out the growing wreckless behavior that is enveloping the mortgage process. There’s a proposal from the FDIC, Federal Reserve, and Treasury Department not to require appraisals for some mortgages under $400,000. Ever heard of straw buyers?

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Housing Wire

SEPTEMBER 8, 2022

Cleveland-based KeyBank , a mortgage lender and servicer with $187 billion in assets, is facing a lawsuit filed in federal court in Ohio stemming from a recent data breach that compromised its customers personal information, including social security numbers. This incident does not affect any Key systems or operations.

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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. In August, the company received a strategic investment by the private equity firm Novacap to accelerate its growth plan.

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Inman

NOVEMBER 8, 2024

Regulators have signed off on plans to restructure insurance business into a company that's owned by policyholders and operated by Porch, insulating it from catastrophic weather events.

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Insurance Business Inspection Technology 154

Housing Wire

APRIL 4, 2024

While they have endured a rocky, rates-driven cycle, marketers in mortgage and real estate continue to play a pivotal role in lead generation, customer acquisition and retention differentiation that has helped to keep many organizations stay afloat. HousingWire: Milestones was recognized as a 2024 Tech100 Mortgage honoree.

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Housing Wire

JUNE 9, 2022

Legacy renovation loans, which tend to have longer inspection periods and strict oversight of renovations, are not paid to borrowers in a lump sum, which can add a degree of difficulty when homeowners are ready to use the funds, according to Goldman. Presented by: Auction.com.

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Housing Wire

JULY 26, 2024

Does your buyer need to secure a mortgage ? Contingencies in the agreement protect both parties if problems arise during the appraisal, inspection, or financing stages of the transaction. Finally, get a professional appraisal, which will be required by a lender if your family member needs a mortgage. Discuss financing.

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Market Value Real Estate Agent Real Estate Finance 435

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. Get final mortgage approval. Clear the title.

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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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Appraisal Buzz

JULY 23, 2024

In June, the average interest rate on a 30-year mortgage was 6.92%, while the median house sale price increased by 4% year-over-year to a record $442,525. Buyers often back out during the inspection period because they find something they don’t like, but affordability is really the underlying issue. a year earlier. ppts YoY change.

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Buyers Contracts HOA Property Taxes 396

Will Springer Realtor

JUNE 1, 2021

One of the most valuable components to a buyer’s offer is the home inspection contingency, an opportunity to check the condition of the property before agreeing to close the deal. It generally takes about an hour to inspect a condo and about 2-3 hours for a single-family home.

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Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

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Agents Buyers Sellers Inventory 432

Housing Wire

JULY 22, 2024

Back then, we never thought about the property inspection. We didn’t understand anything other than dual agency and we didn’t have inspections for things like radon gas or uranium in the soil. Today, they are dozens of pages long. Now, agents are responsible for so much.

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Real Estate Real Estate Agent Technology Agents 405

Assurance Financial

APRIL 29, 2021

Mortgage Lending Terminology . If you plan to buy a home or refinance an existing mortgage, you’ll likely encounter mortgage loan terms and definitions that may be unfamiliar — especially if you’re buying a house for the first time. Adjustable-Rate Mortgage (ARM). Amortization. Annual Percentage Rate (APR).

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Mortgage Insurance Inspection Sellers 69

Raleigh Realty

SEPTEMBER 2, 2022

Title Fees Home Appraisal Fee Home Inspection Fee Homeowner’s Insurance Fee Transfer Tax Escrow Fees Loan Origination Fees Closing Costs FAQs How Much Are Closing Costs? of the total sale price) Homeowner’s Insurance Fee $1,700 per year Escrow Fee Varies Loan Origination Fee $800 (capped at 0.25 Who Pays Closing Costs?

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Buyers Inspection Insurance Sellers 78

Housing Wire

JUNE 30, 2021

The right mortgage services provider is essential to helping wholesale lenders and their brokers thrive in this constantly evolving market. ServiceLink, which is backed by Fidelity National Financial, meets the unique needs of wholesale lenders by providing title insurance, appraisals, flood certificates and closing services.

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