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 370

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.

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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.

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Mortgage Insurance Legal Marketing 428

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 435

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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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 459

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 446

Housing Wire

NOVEMBER 19, 2024

The passage of the mortgage trigger lead bill as proposed in the U.S. The amendment addresses mortgage trigger leads , which occur when a potential borrower’s credit score is pulled for a new home loan application and credit bureaus sell the data to other companies interested in reaching the customer. included U.S.

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Mortgage Legal Law Insurance 397

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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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 448

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

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgage 505

Mortgage Government Retail Lending 505

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 459

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.

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Mortgage Design Architecture Market Value 426

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 444

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.

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Real Estate Insurance Sellers Legal 448

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.

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Mortgage Investors Legal Loan Officers 418

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 476

Housing Wire

MAY 20, 2021

The founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also the president of the Mortgage Bankers Association in the late 1990s, pleaded guilty to five counts of bank fraud, money laundering and false statements to a financial institution. His company serviced about 12,000 loans worth $1.8

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Mortgage Government Lending Insurance 473

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.

Law 435

Law Real Estate Legal Insurance 435

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.

Mortgage 364

Mortgage Contracts Legal Business 364

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 448

Housing Wire

FEBRUARY 1, 2021

Clinton’s long-standing career in public service, in-depth legal expertise in housing policy and executive leadership skills will help bolster FHFA’s work as a world-class prudential regulator.”. When Calabria first took over as head of the agency, he focused on mortgage giants Fannie Mae and Freddie Mac and their future in conservatorship.

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Housing Wire

OCTOBER 1, 2020

The complaint announced on Friday alleges that in order to significantly increase its loan production, Nutter used unqualified underwriters lacking the requirements established by HUD to review and approve HECMs that Nutter ultimately insured with the FHA. When reached for comment, Edward T.

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Legal Insurance Law Mortgage 426

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

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 397

Mortgage Finance Technology Legal 397

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.”

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Mortgage Marketing Investors Legal 487

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 435

Housing Wire

APRIL 13, 2022

Title insurance protects borrowers from financial loss if the lender discovers a defect in the title to the property (for example, a previous mortgage) and demands a borrower to pay back the loan. Perhaps the interesting part regarding conformity in title insurance fees is found in Section 8 of RESPA (12 U.S.C.

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Lending Insurance Legal Business 397

Housing Wire

AUGUST 25, 2021

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. But the mortgage industry and HUD don’t see eye-to-eye on how that decision should be taken into account. This content is exclusively for HW+ members.

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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?

Finance 448

Finance Buyers Agents Insurance 448

Housing Wire

APRIL 1, 2024

Agencies in alignment on the new rules include the Office of the Comptroller of the Currency , the Federal Reserve Board and the Federal Deposit Insurance Corp. Each of the agencies are named as defendants in the case. In a joint statement issued by the plaintiffs and posted by the ABA, they lauded the judge’s decision.

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Modernization Law Lending Insurance 468

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 459

Insurance Real Estate Agent Law Real Estate 459

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 459

Insurance Property Taxes Buyers Investors 459

Housing Wire

NOVEMBER 30, 2023

The Conference of State Bank Supervisors ’ (CSBS) board of directors appointed Brandon Milhorn – current deputy to Federal Deposit Insurance Corporation (FDIC) vice chairman Travis Hill – as its incoming president and chief executive officer (CEO). Milhorn will assume the new role on Dec. 4, succeeding James Cooper.

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Insurance Legal Mortgage 433

Housing Wire

FEBRUARY 4, 2021

“CoreLogic is a mission-critical vendor and data provider across industry sectors in which Stone Point has specialized over the past 20 years, including mortgage, residential real estate and P&C insurance,” said Chuck Davis, CEO of Stone Point Capital.

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Legal Investors Lending Finance 482

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

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