Housing Wire

AUGUST 23, 2022

According to SingleSource, under the authority of the supreme court of the state where the property is located, attorneys who issue an ACT will be protected by a comprehensive liability wrapper – enabling SingleSource to provide comparable coverage as a title insurance policy at a much lower cost to the consumer.

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Insurance Legal Mortgage Marketing 368

Housing Wire

SEPTEMBER 13, 2024

At the end of August, the District of Columbia Housing Finance Agency (DCHFA) announced that it had relaunched its Reverse Mortgage Insurance & Tax Payment Program (ReMIT), which originally began in 2019 and expanded in 2020 before being halted at the end of 2021. They were very vocal that there was still a need,” she said.

Mortgage 450

Mortgage Legal HOA Property Taxes 450

Housing Wire

SEPTEMBER 19, 2024

The overall critical defect rate for mortgages increased in the first quarter of 2024, ending five consecutive quarters of decline. The company’s Mortgage QC Industry Trends Report analyzes post-closing quality control data taken from its Quality Management & Control software platform.

Mortgage 372

Mortgage Insurance Legal Marketing 372

Housing Wire

SEPTEMBER 4, 2024

The Federal Housing Administration (FHA) on Wednesday published Mortgagee Letter (ML) 2024-18 , which implements updates to debenture interest rates and reimbursements for Home Equity Conversion Mortgage ( HECM ) program claims proposed in July. The ML goes into effect on Sept. 19, 2017,” FHA said in its announcement.

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Mortgage Legal Development Insurance 447

Housing Wire

SEPTEMBER 24, 2024

aka Nutter Home Loans , to resolve allegations that the lender had underwritten ineligible reverse mortgages to be insured by the Federal Housing Administration (FHA). Lenders must ensure that the loans they take on are eligible for government insurance. Nutter & Co. , The lender “has agreed to pay $2.4 government.

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Insurance Legal Government Law 259

Housing Wire

APRIL 5, 2022

But what does virtual real estate mean for real-world mortgage professionals? There is a legal description. In Decentraland or Sandbox, for example, the legal descriptions are individual pixels (essentially code) that define the “parcels.” Is there demand for “mortgages” to buy virtual real estate in the Metaverse?

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Real Estate Mortgage Property Taxes Law 532

Housing Wire

JANUARY 31, 2024

This is according to experts who spoke to personal finance website Bankrate about the concept of taking on a new mortgage in retirement. Age information is collected at the time of origination, but only for Home Mortgage Disclosure Act (HMDA) purposes. 30-year mortgages were never meant to be for them. So she was approved.”

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Property Taxes Mortgage Design Finance 422

Appraisal Buzz

SEPTEMBER 23, 2024

The rate of defects in mortgage loans post closing increased 3.27% to 1.58% in the first quarter, ending five quarters of decline, according to ACES’ Mortgage QC Q1 Industry Trends Report. Mortgage lenders are no strangers to market adversity. The highest rate of defects fell into the report’s Income/Employment category.

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Mortgage Legal Insurance Marketing 195

Housing Wire

OCTOBER 18, 2023

“I do anticipate that in 2024 we will propose some amendments to the mortgage servicing rules that are reflective of what we learned through the pandemic,” Chopra said on Monday morning to an audience of mortgage professionals. ” Chopra spoke during the Mortgage Bankers Association (MBA) Annual Conference held Oct.

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Mortgage Legal Insurance Finance 401

Housing Wire

AUGUST 30, 2024

The Merriam-Webster dictionary defines fraud as the “intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right,” and from identity theft to sweepstakes and investment scams, it can take countless forms at a high cost to consumers.

Real Estate 421

Real Estate Insurance Sellers Legal 421

Housing Wire

MAY 3, 2024

4, 2024, for FHA-insured forward mortgages and Home Equity Conversion Mortgages (HECMs). As was previously the case , the relief applies to both single-family forward mortgage borrowers as well as reverse borrowers through the HECM program under specific criteria. “[M]ortgagees

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Insurance Legal Mortgage 402

Housing Wire

JULY 8, 2024

An historic home in Chicago ’s Austin neighborhood designed by architect Frank Lloyd Wright in 1903 is in serious need of repairs and renovations, but an existing reverse mortgage loan is complicating the process of initiating the work. A couple purchased the home in 1969, but took out a $189,000 reverse mortgage on the property in 1997.

Mortgage 368

Mortgage Design Architecture Market Value 368

Housing Wire

JULY 18, 2024

real estate with a fast, digital mortgage process. ” Waltz aims to support international buyers with a “comprehensive” solution that covers the compliance, legal, banking and regulatory processes to close the purchase process within 30 days. .” Miami -based startup Waltz Inc. residential real estate is low.

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Finance Real Estate Investors Legal 395

Housing Wire

APRIL 10, 2024

Mortgage brokers ’ compensation is in the spotlight after a recent Federal Deposit Insurance Corporation (FDIC) test concluded that some financial institutions failed to prove that payments were “reasonably related” to the value of services provided. Violations identified vary across different stages of the loan process.

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Brokerage Mortgage Development Insurance 422

Housing Wire

OCTOBER 27, 2023

One of the most important roles we play at ALTA is strongly encouraging buyers to shop around for their title insurance company. The Real Estate Settlement Procedures Act (RESPA) ensures that homebuyers always have the legal right to consider alternative title insurance providers and can never be forced into using a particular provider.

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Insurance Real Estate Buyers Real Estate Agent 511

Housing Wire

MARCH 21, 2024

Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. The trade group urged the regulators to examine Equifax’s pricing practices.

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Insurance Legal Finance Mortgage 474

Housing Wire

APRIL 17, 2024

According to the report, “this increase highlights the ability for bad actors to successfully gain knowledge of mortgage and real estate closings and then attempt to use spear phishing, Business Email Compromise attacks or other means to divert funds going to and out of escrows / settlement accounts.” In total, CPL issues were found on 44.6%

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Insurance Agents Tools Legal 475

Housing Wire

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. Shocked employees didn’t receive their last paychecks.

Mortgage 418

Mortgage Investors Legal Loan Officers 418

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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Insurance Buyers Housing Inspector Realty 74

Housing Wire

AUGUST 8, 2023

Mortgage tech firm Lender Toolkit sued two mortgage lenders claiming that the companies failed to make payments while continuing to use its services and software solutions. Lender Toolkit accused Celebrity Home Loans and MLD Mortgage of breach of contract. That’s according to separate filings made in the U.S.

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Mortgage Contracts Legal Business 309

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

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Tools Mortgage Finance Lending 435

Housing Wire

AUGUST 30, 2024

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. What, then, would be the benefit to potential homebuyers?

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Finance Buyers Agents Insurance 434

Housing Wire

SEPTEMBER 6, 2024

For more than two years, a storm has been brewing in the title insurance industry. As part of the settlement, the firms agreed to end the practice of giving real estate agents consideration for the referral of title insurance business, and they will cease their title insurance operations in Washington, D.C.,

Insurance 448

Insurance Real Estate Agent Law Real Estate 448

Housing Wire

SEPTEMBER 27, 2023

As an organization dedicated to protecting property rights, the American Land Title Association (ALTA) wants to help ensure laws do not discriminate against or prevent people from legally purchasing real estate. Laws should also be clear on the role title insurance professionals play in facilitating transactions with foreign owners.

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Law Real Estate Insurance Legal 412

Appraisal Buzz

NOVEMBER 13, 2024

The mortgage servicing landscape has long been a crucible of change, where today’s decisions lay the groundwork for the industry’s future. Formed in 2023, the MSEA is a platform for nurturing the next generation of mortgage leaders. Here’s what our panel of mortgage servicing executives had to share.

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Mortgage Technology Clients Tools 410

Housing Wire

SEPTEMBER 19, 2023

Grid151 , a technology products provider for the mortgage and real estate industries, has acquired Simply Secure Sign , an eClosing technology platform, the company announced Tuesday. Up until today, Simply Secure Sign’s largest user was Mortgage Connect, L.P , a prominent national provider of mortgage services.

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Technology Real Estate Legal Insurance 428

Housing Wire

OCTOBER 9, 2024

“Rules of the Game,” a popular interactive session from past annual meetings of the National Reverse Mortgage Lenders Association (NRMLA), returned in 2024 to the San Diego event that took place at the end of September. These include property taxes , homeowners insurance and — if applicable — homeowners association (HOA) fees.

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HOA Legal Property Taxes Mortgage 374

Housing Wire

JANUARY 10, 2023

Amid a rapidly shrinking mortgage market, the company reported a loss of $133.98 It resulted from a big decline in mortgage banking, title insurance revenues and an impairment related to the Title365 segment. . million in the third quarter of 2022. He’ll also receive a $1 million signing bonus.

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Legal Finance Insurance Mortgage 446

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

Housing Wire

DECEMBER 14, 2023

The fees paid to the mortgage-backed security (MBS) investor and lender are next with the accumulated cost of the annual interest payments made to the investor(s) that purchased the MBS bond containing the mortgage, and the lender’s net origination charges at closing plus the accumulated value of the excess interest the lender charges for profit.

Insurance 455

Insurance Property Taxes Buyers Investors 455

Housing Wire

JUNE 6, 2024

Doug Duncan , the chief economist at Fannie Mae , believes pressures from fiscal and monetary policy have brought volatility to the secondary mortgage market, creating a “higher-for-longer” scenario in the U.S. economy that mortgage companies should be ready to face. Treasury, which brings the message to “watch for more volatility.”

Mortgage 452

Mortgage Marketing Investors Legal 452

Housing Wire

JULY 19, 2022

Fannie Mae and Freddie Mac ’s regulator imagines a future where, perhaps through artificial intelligence and machine learning, errors in mortgages are identified in real time before a loan is closed. billion five years ago, per the Federal Housing Finance Agency — closing a mortgage loan has since gotten more expensive, not less.

Mortgage 391

Mortgage Finance Technology Legal 391

Housing Wire

AUGUST 8, 2024

Incomes, wealth, life events, mortgage rates all play a role in determining housing demand, while on the supply side we have land costs, government regulations in terms of zoning rules, geographic constraints to building and builder financing costs,” Divounguy added. “Now

Housing Market 479

Housing Market Marketing Mortgage Sellers 479

Appraisal Buzz

JULY 31, 2024

a360inc , a technology solutions provider to law firms, title agencies, mortgage lenders and investors, has acquired ProVest , a market-leading service of process and litigation information services provider to the creditors’ rights legal industry. a360inc says it will use the capital for innovation and to enhance service offerings.

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Investors Legal Law Technology 195

Housing Wire

JUNE 30, 2023

Indian Land, South Carolina-based lender Movement Mortgage has agreed to pay $23.75 million to settle allegations that it improperly originated and underwrote mortgages insured by the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) programs. Attorney Carla Freedman said in a statement.

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Government Insurance Mortgage Legal 396

Housing Wire

MARCH 7, 2024

The mortgage relief credit would provide “middle-class first-time homebuyers with an annual tax credit of $5,000 a year for two years,” according to the announcement. This would act as an equivalent to reducing the mortgage rate by more than 1.5% on a median-priced home for two years, and it is estimated to “help more than 3.5

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Construction Renovations Insurance Landlords 535

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

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Lending Advertising Mortgage Government 395