article thumbnail

How lenders can improve property tax estimation processes to bolster borrower satisfaction

Housing Wire

For the past few years, low mortgage rates have fueled a housing market so hot that even a pandemic couldn’t derail purchase originations. Record-breaking lending volumes led many lenders to tighten up their processes across every stage of the mortgage cycle.

article thumbnail

The Importance of Tax Escrow Payment Processing for Mortgage Servicer Operations

Appraisal Buzz

Mortgage tax escrow payments for local property owners and government processors continue to serve as a crucial source of revenue for local governments. Among these payments, timely settlement of local property taxes holds particular significance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CFPB proposes rule to bolster PACE loan borrower protections

Housing Wire

With a residential PACE loan, renovations are financed and are then paid back by the borrower as property tax payments to their local government, resulting in higher property tax payments for borrowers. “We are proposing new rules that would require sensible safeguards on these clean energy loans.”

article thumbnail

Property taxes have been rising. Here’s what it means for housing

Housing Wire

In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. It is costing more for schools and governments to pay for services. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments.

article thumbnail

What is portfolio cleansing?

Housing Wire

The mortgage servicing industry landscape is shifting. This shift is happening because of the increased willingness of private investors to invest in servicing and the government sponsored enterprises’ focus on reducing their footprint. This reduced the lender’s exposure to ‘loss of collateral’ on these properties.

article thumbnail

Understanding Property Taxes and Additional Charges

Eppraisal

As homeowners, we're familiar with the annual ritual of receiving our property tax bill. We'll try to help by shedding some light on the various components that make up your property tax bill, providing you with a comprehensive understanding of what you're paying for. or more of your property's value.

article thumbnail

HAF funds have kept 300,000 people in their homes: U.S. Treasury

Housing Wire

In addition, the funding has reached a greater number of economically vulnerable people than it did prior to the federal mortgage relief efforts. “As A $10 billion allocation was made for the program, but mortgage servicers previously stated that spreading awareness about the program has been a challenge.

HOA 368