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 164

Property Taxes Insurance Mortgage Marketing 164

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.

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Insurance Property Taxes Buyers Clients 384

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 422

Mortgage Insurance Inventory Buyers 422

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 420

Mortgage Property Taxes Insurance Inspection 420

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

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 379

Property Taxes Mortgage Design Finance 379

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 379

Mortgage HOA Insurance Property Taxes 379

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.

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Mortgage Property Taxes Design Insurance 403

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 368

Mortgage Insurance Property Taxes Development 368

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.”

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Logistics Mortgage HOA Property Taxes 444

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

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.

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Investors Mortgage Property Taxes Inventory 338

Housing Wire

MAY 18, 2022

HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market. CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans.

Mortgage 416

Mortgage Clients Insurance Tools 416

Housing Wire

OCTOBER 21, 2024

Mortgage rates, rental patterns, homeownership dreams, and housing trends across the country are all seemingly colliding in ways that create both opportunities and uncertainties. The average cost of owning a home, beyond the mortgage payment, is approximately $18,000 per year, according to a recent study by Ally Financial Inc.

Real Estate 470

Real Estate Marketing Insurance Property Taxes 470

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 373

Mortgage HOA Property Taxes Home Value 373

Housing Wire

OCTOBER 10, 2024

Similar to past experiences, Hurricane Helene may lead to 5% of mortgage borrowers in affected areas becoming delinquent but eventually self-curing over the next 12 months, according to a Bank of America (BofA) analysis. Experts told HousingWire they are concerned about further increases in insurance costs due to hurricanes Helene and Milton.

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Insurance Inventory Property Taxes New Listings 375

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 418

Mortgage HOA Legal Property Taxes 418

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 364

Mortgage Marketing Property Taxes Sellers 364

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

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.

Buyers 436

Buyers HOA Property Taxes Inspection 436

Appraisal Buzz

JULY 22, 2024

Our partners in the default servicing industry are on the frontlines of any emerging risk in the mortgage market, and we communicate regularly with them to identify those risks and build solutions of value,” said Jason Allnutt, CEO at Auction.com. through the year’s end. “Our

Property Taxes 389

Property Taxes Insurance Government Sellers 389

Housing Wire

JANUARY 3, 2022

Todd Teta, chief product officer at ATTOM, said in a statement that the financial comfort zone for homebuyers continues to shrink as home prices rise and mortgage rates tick upwards. On average, the median national home price grew by 17% over the past year to $317,500, according to the report.

Property Taxes 535

Property Taxes Lending Housing Market Insurance 535

Housing Wire

MARCH 1, 2024

While mortgage rates will likely fall this year, conversations about how to increase accessibility to homeownership are still top of mind — and should be top of mind — across the real estate industry. Accounting for geography, differences in title and settlement costs across groups of borrowers were not “economically meaningful.”

Insurance 376

Insurance Property Taxes Real Estate Sellers 376

Housing Wire

DECEMBER 14, 2023

The borrower’s largest life-of-loan costs are the property taxes and recording fees paid at closing plus the accumulated cost of annual property taxes paid over the life of the loan. The choices are complex and the “mortgage math” can be hard to comprehend. So, what’s peace of mind worth?

Insurance 423

Insurance Property Taxes Buyers Investors 423

Housing Wire

JULY 12, 2024

A survey of mortgage default servicing leaders revealed that foreclosures are expected to rise slowly during the second half of 2024, while ample amounts of home equity should keep many properties in loss mitigation from moving into foreclosure status. Respondents expected the U.S.

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Property Taxes Mortgage Insurance Government 455

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.

Construction 450

Construction Property Taxes Inventory Mortgage 450

Housing Wire

JANUARY 29, 2021

Last year, buyer demand increased due to record low mortgage rates. That said, because of those low mortgage rates, and fewer houses on the market, home prices went up. They make monthly mortgages more affordable! As interest rates dropped, homeowners took advantage and refinanced their mortgages at lower rates.

Property Taxes 482

Property Taxes Sellers Insurance Mortgage 482

Housing Wire

SEPTEMBER 5, 2024

Housing markets across the country have stalled due to elevated mortgage rates and limited for-sale inventory , but some counties are at risk of a more dramatic downturn. Homeownership costs like mortgage payments, property taxes and insurance were compared to local income levels.

Property Taxes 405

Property Taxes Housing Market Insurance Inventory 405

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 363

Mortgage Property Taxes Insurance Business 363

Housing Wire

AUGUST 24, 2023

Mortgage rate shot up again last week as the bond market continues to grapple with a growing economy in the run up to the next Federal Open Market Committee meeting. By contrast, the 30-year fixed-rate mortgage was at 5.55% a year ago at this time. Other indices showed even higher mortgage rates. What to expect with the Fed ?

Mortgage 364

Mortgage Property Taxes Investors Buyers 364

Housing Wire

JUNE 17, 2024

From rising home prices to rising mortgage rates and inflation , the millennial generation hasn’t had it easy when it comes to homeownership. During the years when boomers turned 30, the share of median household income needed to make the typical mortgage payment averaged 33.2%, the highest of any living generation,“ the report explained. “In

Housing Market 491

Housing Market Property Taxes Inventory Buyers 491

Housing Wire

FEBRUARY 15, 2024

Older Americans also have financial incentives attached to staying in their homes, since 54% of the baby boomer cohort own their homes free and clear without making monthly mortgage payments.

Property Taxes 476

Property Taxes Insurance Construction Inventory 476

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 283

Mortgage Property Taxes Insurance Real Estate 283

Housing Wire

DECEMBER 9, 2020

Via Knock Nest, homeowners can request a no-obligation cash offer for their home, allowing them to pay off their mortgage and access equity in about two weeks if they qualify. While living in the home, the consumer pays rent and is relieved of mortgage payments, property taxes and homeowners insurance.

Property Taxes 417

Property Taxes Real Estate Design Insurance 417

Housing Wire

AUGUST 22, 2024

loanDepot added a first-lien home equity line of credit (HELOC) to its product suite that will enable homeowners without a mortgage to borrow from their home equity. “However, even without a mortgage, many feel the pinch of rising expenses, including insurance and property taxes, which put more pressure on monthly budgets. .

Property Taxes 376

Property Taxes Insurance Mortgage Lending 376

Housing Wire

MARCH 10, 2022

How much does a typical low-income first-time homebuyer with a Fannie Mae -backed mortgage bring to the closing table? The typical low-income first-time homebuyer with a Fannie Mae-backed mortgage also has a 747 credit score, the research paper shows. In 2020, about 4% of Fannie Mae-acquired purchase loans went to Black borrowers.

Property Taxes 401

Property Taxes Lending Insurance Local Properties 401