Housing Wire

JANUARY 27, 2025

It also operates outside of the regulatory purview of other home-equity tapping products, including the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage ( HECM ). But HECM loans are insured and regulated by the FHA, and they are only available for homeowners who are at least 62 years old.

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Contracts Mortgage Property Taxes Law 370

Housing Wire

FEBRUARY 5, 2025

Recent natural disasters such as the LA wildfires show that climate change risks can shift the real estate and mortgage industries on a dime. According to a new study, climate-induced shifts could significantly lower property values over time. ” Porter’s perspective on rising insurance premiums is already happening. .

Real Estate 409

Real Estate Insurance Property Taxes Marketing 409

Appraisal Buzz

MARCH 4, 2025

The findings suggest that rising costs of property taxes, insurance, utilities, and home maintenancerather than just mortgage paymentsare driving increased financial pressure, even for those who secured historically low mortgage rates in recent years.

Property Taxes 360

Property Taxes Bracketing Insurance Mortgage 360

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

Appraisal Buzz

DECEMBER 16, 2024

For the study, Redfin analyzed climate risk scores from First Street, and Home Mortgage Disclosure Act (HMDA) data covering mortgage originations for primary homes. But that benefit is beginning to be offset by a surge in insurance costs and HOA fees caused by intensifying natural disasters ,along with rising property taxes.

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HOA Insurance Buyers Property Taxes 392

Housing Wire

OCTOBER 24, 2024

The big publicly traded builders have money to pay down mortgage rates and manage their pipelines better than smaller homebuilders. Then mortgage rates fell from 7.5% However, that was short-lived; mortgage rates are closer to 7% again. to nearly 6%, and things started to look better for the builders.

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Construction Property Taxes Inventory Mortgage 488

Housing Wire

JANUARY 9, 2025

But in instances where these payments may not be enough to make ends meet, other options should be considered and in the right situation, a reverse mortgage could be one such option. A reverse mortgage is a possibility for seniors with substantial equity in their homes, the column stated.

Mortgage 370

Mortgage Property Taxes Insurance Real Estate 370

Housing Wire

OCTOBER 9, 2024

The home insurance marketplace has been facing a reckoning. And it raises questions about how more of these events could impact the mortgage industry. Rethinking the dynamic Taylor Stork, president of the Community Home Lenders of America (CHLA) and chief operating officer of Developer’s Mortgage Co.

Insurance 459

Insurance Mortgage Property Taxes Construction 459

Housing Wire

DECEMBER 3, 2024

Zillow Home Loans — the platform’s affiliate mortgage lender — pushes the future of financing. Users can enter a potential home price, down payment, interest rate, loan terms, property taxes, insurance costs, and homeowners association (HOA) fees.

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Tools Finance HOA Property Taxes 397

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.”

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Property Taxes Insurance Mortgage Finance 505

Housing Wire

NOVEMBER 26, 2024

Mortgage rates have been rising and the housing market is also experiencing the impacts of hurricanes. However, the Southern states have seen the highest growth in existing inventory, meaning that higher mortgage rates are influencing the figures in this region as well.

Property Taxes 501

Property Taxes Inventory Construction Housing Market 501

Appraisal Buzz

FEBRUARY 4, 2025

These areas have seen increases in severe weather exposure and insurance costs, resulting in a steady increase in the overall cost of homeownership. Insurance cost acceleration relative to home appreciation: Insurance costs are rising dramatically faster than mortgage payments. million in 2025. million in 2025.

Real Estate 391

Real Estate Marketing Insurance Property Taxes 391

Housing Wire

MARCH 4, 2025

In an environment of high home prices and elevated mortgage rates , older homeowners taking a closer look at less expensive areas to make their money go further is not an isolated phenomenon. Costs are also generally lower for everything from property taxes to groceries or car insurance, he said.

Real Estate Agent 409

Real Estate Agent Property Taxes Real Estate Development 409

Housing Wire

MARCH 3, 2025

A bill that would seek to bolster the disclosures that reverse mortgage lenders make to potential clients in an effort to broaden their understanding of the product inside New York state is getting pushback from industry advocates. Leroy Comrie (D-Queens), who introduced the bill on Jan. Again, it’s very concerning, Irwin said.

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Mortgage Law Property Taxes Clients 231

Housing Wire

JUNE 28, 2024

Title insurance provides vital protection to the largest and most important purchase most Americans will ever make—their home. Director Rohit Chopra himself, in a recent appearance before the House Financial Services Committee , shook his head “no” when asked whether title insurance was a “junk fee” in questioning from Rep.

Insurance 397

Insurance Property Taxes Sellers Development 397

Housing Wire

JANUARY 10, 2025

Incenter Lender Services , a group of companies that help nonbank and depository mortgage lenders nationwide, announced this week the hiring of two new vice presidents. I develop, direct, and provide strategic vision for sales and marketing plans for mortgage products and services,” according to her bio.

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Valuation Property Taxes Insurance Clients 370

Housing Wire

JUNE 10, 2024

It’s also due to growing property taxes and homeowners insurance premiums as providers exited states where risks are elevated. Bankrate calculated the average annual cost of owning a single-family home based on items such as property taxes, homeowners insurance and maintenance costs, as well as energy, internet and cable bills.

Property Taxes 518

Property Taxes Insurance Home Value Inventory 518

Inman

JULY 23, 2024

Hidden costs of homeownership, like property taxes and homeowners insurance, were given a 37 percent risk factor for triggering mortgage delinquency by leaders in default servicing, according to a survey by Auction.com.

Property Taxes 183

Property Taxes Insurance Mortgage Marketing 183

Housing Wire

MARCH 22, 2023

HousingWire recently spoke to Tom Kriby, vice president of client development and partnerships at Westwood Insurance Agency, about how working with an insurance agency can simplify the closing process for their customers, even in times of interest rate uncertainty. Take insurance, for example.

Insurance 435

Insurance Property Taxes Buyers Clients 435

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

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.

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Mortgage Insurance Inventory Buyers 468

Housing Wire

APRIL 5, 2022

But what does virtual real estate mean for real-world mortgage professionals? Actual” real estate is defined as property consisting of land or buildings, and everything that is permanently attached to the land. Is there demand for “mortgages” to buy virtual real estate in the Metaverse? Underwriting a Metaverse mortgage.

Real Estate 532

Real Estate Mortgage Property Taxes Law 532

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

MAY 20, 2024

This may lead an older homeowner to consider a product like a reverse mortgage, but potential borrowers should be aware of the product’s details and the informational resources they can access. She said that reverse mortgages can be expensive, which is why the product should be considered in concert with other options.

Mortgage 448

Mortgage Insurance Property Taxes Development 448

Housing Wire

JANUARY 8, 2021

Mortgage Broker Fee . Closing costs include a commission fee that brokers charge at the end, of the mortgage process, which is why homeowners are encouraged to shop around for the right mortgage broker. Here’s what to expect in the mortgage application process. Property Tax. Homeowner’s Insurance.

Property Taxes 531

Property Taxes Insurance Real Estate Mortgage 531

Appraisal Buzz

JUNE 10, 2024

Bankrate compiled the typical costs of property taxes, homeowners insurance, and home maintenance, which was estimated to be 2% of a home’s value per year. This adds an additional $1,510 per month to a mortgage payment throughout the country. Insurance prices are another burden for homeowners. In all 50 U.S.

Property Taxes 409

Property Taxes Insurance Home Value Construction 409

Housing Wire

APRIL 29, 2024

The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month. A reverse mortgage is a type of home equity loan extended, in most cases, to those who are 62 years of age or older,” the announcement stated.

Mortgage 448

Mortgage Property Taxes Design Insurance 448

Appraisal Buzz

JANUARY 28, 2025

However, the rising costs of insurance, property taxes, and housing have dampened local relocation rates. The lock-in effect of high mortgage rates also plays a role, as homeowners hesitate to leave lower-interest loans for costlier options.

Property Taxes 370

Property Taxes Home Value Insurance Appraisal 370

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.”

Property Taxes 435

Property Taxes Mortgage Design Finance 435

Appraisal Buzz

DECEMBER 5, 2024

The Q3 patternsderived from gaps in affordability, underwater mortgages, foreclosures, and unemployment trendsrevealed that two-thirds of the 50 counties around the U.S. of average local wages needed for major ownership costs) At least 6% of residential mortgages were underwater in Q3 of 2024 in 23 of the 50 most-at-risk counties.

Housing Market 397

Housing Market Marketing Property Taxes Mortgage 397

Housing Wire

OCTOBER 18, 2024

The Home Equity Conversion Mortgage ( HECM ) and the Home Equity Line of Credit ( HELOC ) remain as the primary options left for older homeowners who want to use their home equity to create more liquidity during retirement. Monthly principal and interest mortgage payments are also required. Let’s define and compare them.

Mortgage 448

Mortgage HOA Property Taxes Home Value 448

Housing Wire

JUNE 25, 2024

Mortgage rates have leveled off in the past week, according to data on HousingWire ‘s Mortgage Rates Center. Last week, Mohtashami wrote that mortgage application data is signaling increased demand. This is a function of mortgage rates staying in the 7s. from the prior week and 3.3% than the same time last year. “The

Mortgage 418

Mortgage Marketing Property Taxes Sellers 418

Housing Wire

APRIL 21, 2023

It’s been delayed, but that’s not enough for the mortgage industry. “There is a reason the revised general Qualified Mortgage (QM) definition excludes the DTI ratio: Studies demonstrate that as a stand-alone measure, DTI is not a strong indicator of a borrower’s ability to repay.”

Logistics 448

Logistics Mortgage HOA Property Taxes 448

Appraisal Buzz

JANUARY 24, 2025

The results of LERETA s second annual Escrow Awareness Survey, which was published recently, show that homeowners knowledge of mortgage escrow accounts and the effects of growing property taxes and homeowners insurance premiums is seriously lacking.

Property Taxes 150

Property Taxes Insurance Mortgage Appraisal 150

Housing Wire

JUNE 17, 2024

After first entering the housing business to sell real estate , Jim Cullen transitioned into the mortgage industry in 1997. Chris Clow/RMD: What do you think helped you to stay in the reverse mortgage business for two decades? Even with the lower principal limits, I’m fortunate that I don’t have a mortgage to pay off.

Mortgage 464

Mortgage Property Taxes Insurance Business 464

Housing Wire

DECEMBER 22, 2020

The mortgage application process can be a confusing one — especially if you’ve never gone through it before. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Fixed-rate mortgage. Are you planning to buy a home in 2021?

Mortgage 448

Mortgage Property Taxes Loan Officers Sellers 448

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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Mortgage Legal HOA Property Taxes 459