Housing Wire

NOVEMBER 7, 2024

It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. Some insurers say catastrophe risk is part of the business, part of the job.

Insurance 482

Insurance Supply Chain Real Estate Design 482

Housing Wire

JUNE 4, 2024

With flood insurance premiums commanding ever-higher prices, a U.S. senator recently described a hardship faced by a constituent who endured challenges with higher flood insurance costs while keeping a reverse mortgage in good standing. And Cassidy shared another story of a constituent with a reverse mortgage on his home.

Insurance 448

Insurance Mortgage Property Taxes Modernization 448

Housing Wire

MARCH 14, 2024

Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. The lawsuit was previously reported by National Mortgage News and Law360.

Insurance 497

Insurance Mortgage Development Legal 497

Housing Wire

FEBRUARY 28, 2024

Rocket Companies will soon shut down Rocket Pro Originate , a mortgage origination platform for real estate agents, insurance agents, tax professionals and other financial professionals who are also licensed to originate mortgages. In fourth-quarter 2023, Rocket reported $10.3

Real Estate 516

Real Estate Insurance Agents Real Estate Agent 516

Housing Wire

MAY 14, 2024

The firm attributed its stronger results to better performance from both its F&G segment and its title insurance segment. In April, purchase open orders per day were up 4% over last year, but higher mortgage rates may temper purchase volumes going forward. The firm’s title segment reported $1.7

Insurance 476

Insurance Real Estate Sellers Housing Market 476

Housing Wire

JULY 24, 2024

While it may be easy to attribute the slower market conditions to the state’s well-publicized insurance issues , local agents say there is a perfect storm of factors. “It Insurance is still a major hurdle for many. Altos’ data shows that the 90-day median time on market jumped from 49 days a year ago to 70 days as of mid-July.

Inspection 488

Inspection Insurance Marketing HOA 488

Housing Wire

OCTOBER 16, 2024

United Wholesale Mortgage (UWM) announced on Wednesday that it’s offering a conventional cash-out loan product with a loan-to-value (LTV) ratio of up to 90% and no mortgage insurance. The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 was $766,550.

Insurance 435

Insurance Mortgage Retail 435

Housing Wire

MAY 20, 2024

Fraud and forgery claims represented more than one-fifth of the total dollars spent by title insurers on claims expenses and losses over the past decade, according to a study conducted by Milliman and commissioned by the American Land Title Association (ALTA). the risk of not purchasing a title insurance policy is far too high.”

Insurance 497

Insurance Inspection Government Mortgage 497

Housing Wire

SEPTEMBER 9, 2024

Why is homeowners insurance so expensive in the Upper Midwest? The growing prevalence of extreme weather events and the high cost of construction are pushing property insurers to significantly raise their prices , even in places you might not expect. More: catastrophic weather events are “a key driver” of the premium hikes.

Insurance 459

Insurance Construction Technology Investing 459

Appraisal Buzz

NOVEMBER 26, 2024

Matic announced that it has published its annual year-end trends and predictions report, which examines significant developments in the house insurance market and their effects on mortgage lenders and homeowners. In the second half of 2024, premium growth slowed considerably, with average rate increases for new plans being 6.6%

Insurance 393

Insurance Marketing Development Mortgage 393

Housing Wire

OCTOBER 4, 2024

For the title insurance industry, this meant an uptick in title insurance premium volume, which came in at $4.09 Title insurance professionals continue to play a critical role in preventing fraud and protecting property rights, ensuring secure real estate transactions in this evolving market.” billion in Q1 2024 and $3.92

Insurance 435

Insurance Housing Market Marketing Real Estate 435

Appraisal Buzz

OCTOBER 3, 2024

First American Financial Corporation , a provider of title, settlement and risk solutions for real estate transactions, has published a data-driven analysis of the vital role that the title insurance industry plays in protecting the smooth functioning of the real estate economy in the United States.

Insurance 384

Insurance Real Estate Valuation Real Property 384

Housing Wire

SEPTEMBER 26, 2024

Real estate data company StreetWire has partnered with Northern California MLS MetroList to produce an insurance product called Home Value Lock. The coverage is good for three years after the closing date on a home purchase, and the insurance covers up to 10% of the original purchase price.

Home Value 434

Home Value Insurance Real Estate Design 434

Housing Wire

OCTOBER 3, 2024

For too long, the mortgage industry has used “the money gun” to deal with problems. Nowhere is that more evident than in the cost to manufacture a mortgage, which was more than $11,600 in the second quarter. It’s a challenge for the industry because of the high fixed-costs in manufacturing a mortgage, they said.

Insurance 427

Insurance Technology Lending Business 427

Housing Wire

SEPTEMBER 11, 2024

home in June 2022, you probably locked in about $1,400 a month in mortgage payments. Due largely to higher mortgage rates , that same home today would cost about $2,175 a month. Mortgage payments are only part of the affordability challenge. Other holding costs for real estate include taxes and insurance.

Mortgage 468

Mortgage Insurance Inventory Buyers 468

Housing Wire

MAY 16, 2024

United Wholesale Mortgage (UWM) has launched a new service to handle all the title work for its brokers on refinancings. mortgage lender announced the service on Thursday during an annual meeting with its broker partners in Pontiac, Michigan. The top U.S. Department of Veteran Affairs (V.A.) loans but only for refinances.

Insurance 476

Insurance Agents Real Estate Agent Mortgage 476

Housing Wire

AUGUST 13, 2024

The American Land Title Association is making it clear that it won’t have the Consumer Financial Protection Bureau making drastic changes to title insurance without first at least hearing the trade groups thoughts on the issue. 2, the trade group stressed the importance of title insurance.

Insurance 463

Insurance Mortgage Legal Government 463

Housing Wire

OCTOBER 3, 2024

SitusAMC has struck a deal to sell a majority stake of two subsidiaries focused on mortgage risk management to investment firm VineLight Venture. The transaction involves the loan insurance firm Securent Risk Retention Group along with its data, brokerage and services business, Risk and Insurance Services.

Mortgage 447

Mortgage Insurance Brokerage Investing 447

Housing Wire

JUNE 11, 2024

Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD Texas-based multichannel lender Open Mortgage has originated about $400 million in mortgages over the past 12 months, per mortgage tech platform Modex.

Mortgage 475

Mortgage Insurance Loan Officers Lending 475

Appraisal Buzz

OCTOBER 2, 2024

The title insurance industry mitigates more than $600 billion in estimated risk exposure annually for home buyers, according to a report from First American. The curative work conducted by the U.S.

Insurance 370

Insurance Real Estate Real Property Buyers 370

Housing Wire

JULY 3, 2024

Department of Housing and Urban Development (HUD) on Wednesday announced that it has released five new language translations for 19 separate single-family mortgage documents used for Federal Housing Administration (FHA)-insured mortgage servicing.

Mortgage 448

Mortgage Insurance Tools Law 448

Housing Wire

APRIL 24, 2024

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a new edition of its Supervisory Highlights publication, which includes the agency’s actions to combat what it calls “ junk fees charged by mortgage servicers , as well as other illegal practices.”

Mortgage 476

Mortgage Property Taxes Insurance Inspection 476

Housing Wire

FEBRUARY 15, 2024

Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. In 2023, 60% of the calls were related to escrow accounts, specifically shortages due to rising property taxes or insurance costs.”

Property Taxes 505

Property Taxes Insurance Mortgage Finance 505

Housing Wire

JUNE 4, 2024

But while a fraud attempt targeting such a famous structure and family would easily make national news, the vast majority of title theft and mortgage fraud schemes do not. An alternative scam is to submit a mortgage application in your name to get cash out of the house.

Mortgage 488

Mortgage Insurance Real Estate Sellers 488

Housing Wire

OCTOBER 3, 2024

Taylor Stork, left, and Paulina McGrath of the Community Home Lenders of America lead a discussion at HousingWire’s IMB Summit in Dallas (Photo courtesy of Willie & Kim Photography) For too long, the mortgage industry has used “the money gun” to deal with problems. And that has consequences. ”

Insurance 349

Insurance Technology Lending Business 349

Housing Wire

NOVEMBER 22, 2024

As low inventory levels, elevated mortgage rates and rising home prices keep the housing industry stagnant, short-term real estate investors — aka fix-and-flippers — faced market turmoil during the third quarter of 2024. Home affordability challenges presented the biggest challenge for home flippers.

Investors 430

Investors Mortgage Property Taxes Inventory 430

Housing Wire

OCTOBER 21, 2024

The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. Big payouts from natural disasters are driving insurers to raise rates and pull back on coverage,” the report stated.

Insurance 497

Insurance Real Estate Agent Construction Development 497

Housing Wire

DECEMBER 18, 2024

As the housing market picked up in much of the country during the third quarter of 2024, so did business for the title insurance industry. In total, during the first nine months of the year, title insurance premiums are up 3.2% Top underwriters for the quarter by market share included First American Title insurance Co.

Insurance 255

Insurance Housing Market Marketing Business 255

Housing Wire

SEPTEMBER 4, 2024

Guild Mortgage announced on Wednesday the introduction of a new product line called the “ Flex Payment Mortgage ,” which includes Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages ( HECMs ), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.

Mortgage 448

Mortgage HOA Insurance Property Taxes 448

Housing Wire

AUGUST 5, 2024

mortgage market , which has already seen big interest rate declines in the past week following a Fed meeting that teased forthcoming cuts to benchmark interest rates, along with a much weaker-than-expected jobs report. Mortgage spreads tightened at the same time, taking the Fannie Mae current coupon to 5.05%.

Mortgage 501

Mortgage Marketing Insurance Loan Officers 501

Housing Wire

JULY 30, 2024

Mortgage-related consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) fell between the first and second quarters of this year, according to a review of the CFPB’s consumer complaint database conducted by HousingWire. A total of 5,652 mortgage-related complaints were submitted to the bureau between Jan.

Mortgage 457

Mortgage Insurance 457

Housing Wire

OCTOBER 24, 2024

Fast-growing mortgage servicing platform Valon has secured $100 million in a Series C funding round, the company announced this week. It is utilizing a cross-selling strategy that offers additional products to its existing customers in an evolving mortgage landscape.

Mortgage 448

Mortgage Real Estate Agent Technology Real Estate 448

Housing Wire

NOVEMBER 12, 2024

Cornerstone Financing , a venture co-founded by former Reverse Mortgage Funding (RMF) CEO Craig Corn, has secured $285 million in financing through global investment firms Aquiline Capital Partners LP and Nomura. In 2013, Corn and his partners launched RMF , which became a leading reverse mortgage lender. 31 of that year.

Finance 366

Finance Mortgage Insurance Investing 366

Housing Wire

MAY 20, 2024

which includes numerous updates to its guidance for the Home Equity Conversion Mortgage (HECM) program overseen by the Federal Housing Administration (FHA). Department of Housing and Urban Development (HUD) on Monday published a new version of its Single Family Housing Handbook 4000.1,

Reconsideration of Value 459

Reconsideration of Value Mortgage Inspection Insurance 459

Housing Wire

OCTOBER 18, 2024

” A combination of soaring insurance rates and new regulations on condo association reserves and building maintenance work has created a surge in condo inventory in Florida. One Florida mortgage broker said the Provident exit gave him “a feeling that we will see other major lenders exiting the condominium market in Florida.

Marketing 524

Marketing Mortgage Finance Lending 524

Housing Wire

JUNE 12, 2024

The Mortgage Bankers Association (MBA) on Wednesday announced that Owen Lee, CEO at Success Mortgage Partners (SMP), has been nominated to serve as the association’s vice chairman for the forthcoming 2025 membership year.

Mortgage 447

Mortgage Real Estate Law Insurance 447

Housing Wire

FEBRUARY 5, 2024

Effective March 1, the credit will be available for homebuyers earning 50% of area median income (AMI) or less through Freddie Mac’s Home Possible and Housing Finance Agency (HFA) Advantage mortgage products. The credit can be used for down payments, closing costs, escrow and mortgage insurance premiums.

Mortgage 526

Mortgage Finance Insurance Government 526