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Lenders: Looking to simplify closings? Work with an insurance agency

Housing Wire

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 361
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Miami seeks new debt package to finance affordable housing: Bloomberg

Housing Wire

Mayor Daniella Levine Cava will propose a new property tax-backed debt package later this year that would raise $2.5 Additionally, the cost of homeowners insurance has dramatically increased in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. Out of the $2.5

Finance 417
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CFPB official talks reverse mortgage safety, counseling resources

Housing Wire

The CFPB advises that upfront fees can be “as much as $6,000 plus closing costs in an initial mortgage insurance premium,” in addition to an annual mortgage insurance premium and obligations related to property taxes and homeowners insurance. Department of Housing and Urban Development (HUD).

Mortgage 343
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Michigan attorney general reissues reverse mortgage consumer alert

Housing Wire

As long as you retain ownership of the home and pay the property taxes, the loan will not become due.” Department of Housing and Urban Development (HUD)-approved counseling prior to closing the loan. “It can be used to make home repairs, pay for medical expenses, or to supplement retirement income.

Mortgage 378
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The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

The increasing share of owner-occupant buyers is also evidence that extremely tight housing inventory is prompting more retail buyers to take on the additional challenges that come with buying a distressed property at auction. Department of Housing and Urban Development (HUD) in August 2022.

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Investors turn their eyes to affordable housing opportunities

Housing Wire

We’re seeing statistics from our developers across the country that their portfolios are holding up well,” he said. There’s a growing sense that affordable housing is a stable investment class for banks and insurance companies; even in the 2008 – 2009 recession, it held up well.”.

Investors 408
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Is time the enemy of equity for chronically distressed homeowners?

Housing Wire

That’s because the unpaid loan balance continues to grow for delinquent mortgages due to unpaid interest, property taxes and insurance. While the average value of the 80,000 properties analyzed increased 3% between the first and last scheduled foreclosure auction date, the average unpaid loan balance increased by 6 percent. “One