Housing Wire

JANUARY 10, 2022

HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays. HW: How can lenders help homebuyers avoid closing delays?

Insurance 497

Insurance Inspection Clients Development 497

Housing Wire

JANUARY 24, 2023

The lender’s price reduction by 50 to 100 basis points across all its loans last year led to accusations that UWM was making it impossible for some lenders to do business in the space. Attorneys interviewed by HousingWire said nothing appeared to be clearly over the legal line with the Control Your Price initiative.

Lending 370

Lending Law Legal Training 370

Housing Wire

JUNE 11, 2021

You can potentially ask the seller to pay for the improvements, or you can ask for a lower sales price to offset the cost of the repairs. Home inspections provide valuable information that can make or break your decision to purchase a home, as well as help you plan for future improvements. That doesn’t mean you should pass on the home.

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Inspection Appraisal Buyers Appraisal Process 427

Housing Wire

OCTOBER 18, 2022

A recent lawsuit claims Sprout Mortgage left its warehouse lender FirstFunding holding over $220 million of its debt when the mortgage lender abruptly closed on July 6. Sprout was founded in 2009 by industry veteran Michael Strauss and became “one of the fastest growing non-QM lenders in the country,” according to the lawsuit.

Contracts 383

Contracts Law Legal Mortgage 383

Housing Wire

MARCH 23, 2021

The transition to a largely remote workforce during the COVID-19 pandemic only gave criminals more of an incentive to attempt to deceive lenders or misrepresent qualifications. How lenders can prepare for growing fraud threats. across U.S. retailers and e-commerce merchants, and every $1 of fraud now costs $3.36, up from $3.13

Lending 446

Lending Mortgage Sellers Development 446

Housing Wire

APRIL 12, 2022

The CFPB alleged TransUnion automatically enrolled consumers into a monthly credit monitoring service, when consumers thought they were only requesting a free one-time credit report. This one practice can help lenders stop losing customers. VantageScore did not return requests to comment. Presented by: Black Knight.

Advertising 395

Advertising Law Design Government 395

Appraisal Buzz

NOVEMBER 29, 2021

MISM O , the real estate finance industry’s standards organization, is standardizing the bid-wanted in competition (BWIC) dataset format to facilitate accuracy, liquidity and rapid pricing for agency mortgage-backed securities (MBS) transactions.

Real Estate 195

Real Estate Finance Appraisal Mortgage 195

Housing Wire

MAY 4, 2022

The Federal Housing Finance Agency will now require lenders to provide data on borrowers’ language preferences in order to sell loans to Fannie Mae and Freddie Mac , a move which could invite fair lending lawsuits. Regulators have in recent history relied on lenders’ language access deficiencies to pursue claims of lending discrimination.

Legal 383

Legal Lending Government Loan Officers 383

Housing Wire

SEPTEMBER 14, 2020

We are living in fast-changing times, and lenders that don’t embrace those changes will not compete well for business in a post-COVID-19 world. But are all lenders equipped to make that transition? The result has been a number of new consumer demands that together are changing the way lenders interact with borrowers.

Lending 462

Lending Mortgage Technology Business 462

Housing Wire

OCTOBER 11, 2021

Phil Shoemaker, president of originations at wholesaler Homepoint, noted that the Michigan-based lender decided to up its loan limit due to “the significant appreciation we’re seeing in home prices throughout the country.”. Wells Fargo , Chase and Flagstar Bank did not respond to requests for comment.

Mortgage 416

Mortgage Lending Finance Marketing 416

Housing Wire

JUNE 8, 2022

We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”. Both plans rely heavily on special purpose credit programs , which allow lenders to target lending to protected classes without violating the Equal Credit Opportunity Act. . “We

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Development Finance Government Lending 368

Appraisal Buzz

JUNE 14, 2021

Appraisers are starting to get one-off requests from Fannie and Freddie for more information and an interior inspection, even though the property already had a COVID-alternative accepted. Many appraisers are afraid to turn in a report right now because they can’t justify a price based on the comps they have available in many U.S.

Appraisal 435

Appraisal Appraisal Process Technology Housing Market 435

Housing Wire

NOVEMBER 2, 2020

Empower’s advanced process automation capabilities, data and pricing functionality and web-based APIs are integrated to create significant efficiencies and support for digital mortgage strategies. This interactive tool gives customers the ability to review information about their loans and easily perform tasks, such as making loan payments.

Lending 406

Lending Valuation Clients Tools 406

Appraisal Buzz

FEBRUARY 7, 2022

Let’s take some time to reintroduce Desktop Appraisals and explore the risks that are presented when a Desktop Appraisal is requested of an appraiser as part of the mortgage application process. Lenders and stakeholders allowed for some level of inspection relief with these two new appraisal products. Appraisal Labels.

Appraisal 435

Appraisal Inspection Development Technology 435

Housing Wire

JULY 19, 2022

Automating compliance could make eligibility, as well as pricing and pooling decisions, and verify and validate that information. Through a request for information , the FHFA said it would like to better understand the “potential innovations throughout the mortgage lifecycle and related processes, risks, and opportunities.”.

Mortgage 383

Mortgage Finance Technology Legal 383

Housing Wire

MARCH 16, 2022

California-based nonbank lender loanDepot is the target of a new shareholder lawsuit. . Investor Tuyet Vu accuses seven top executives and board members, including loanDepot’s founder Anthony Hsieh, of making misleading statements and omitting information in connection with the company’s initial public offering (IPO). .

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Investors Mortgage Business 294

Housing Wire

FEBRUARY 16, 2022

In today’s competitive real estate market, an increasing number of real estate investors are turning to private money lenders to help them close deals faster, enhance property valuations, and increase their returns. The problem with private money lenders is that good ones are hard to come by. How to vet a private money lender.

Real Estate 383

Real Estate Investing Investors Renovations 383

Housing Wire

JANUARY 27, 2022

Use of the cash window for delivering mortgages to Fannie Mae and Freddie Mac was disrupted in a big way over the course of last year as lenders reacted to expectations that a cap on cash transactions was slated to go into effect by the start of 2022. Fannie and Freddie provide two vehicles to lenders for delivering loans to the agencies.

Mortgage 370

Mortgage Investors Finance Contracts 370

Appraisal Buzz

OCTOBER 3, 2022

I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). This is important information for appraisers, though it may not appear so at first. This month’s supply measurement remains 0.9 Of course not.

Appraisal 370

Appraisal Marketing Real Estate Inventory 370

Housing Wire

JUNE 10, 2021

HW: Why is choosing the right non-QM lender so important? JJ: It’s the difference between getting non-QM loans closed quickly and seamlessly versus working with a lender that doesn’t. Some non-QM lenders must get approval from outside investors that could result in delays. Each market is different.

Clients 382

Clients Business Mortgage Investors 382

Birmingham Appraisal

JUNE 13, 2023

Do provide a packet of information about the property. This will help the appraiser understand the features and characteristics of the property and save them time in researching and verifying the information. Do provide information about comparable sales. Do provide information about comparable sales.

Real Estate Agent 77

Real Estate Agent Real Estate Agents Reconsideration of Value 77

Housing Wire

JUNE 6, 2022

An FHA spokesman did not immediately respond to a request for comment. The proposed rule , originally published in early April, would change repayment provisions for FHA borrowers, allowing lenders to recast a borrower’s total unpaid loan for an additional 120 months.

Insurance 417

Insurance Mortgage Realtors Housing Market 417

Lamacchia Realty

FEBRUARY 21, 2024

SELLERS, HERE'S WHAT TO DO IF A BUYER REQUESTS REPAIRS AFTER INSPECTION Selling your home and moving into a new one can be an exciting life chapter. A common issue that sellers should be prepared for is a buyer requesting repairs after the home inspection. Mortgage lenders will not pay more than they believe a house is worth.

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Inspection Sellers Buyers Agents 72

Boston Appraisal

DECEMBER 11, 2023

Appraisals can affect the financing, the negotiation of the purchase price, and ultimately the closing of the sale or the loan. Therefore, it is essential to communicate effectively with the appraiser and provide them with accurate and relevant information that can help them perform their job.

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Appraisal Process Real Estate Appraisal Easement 78

PennyMac

MARCH 4, 2024

If you’re like most people embarking on a home-buying journey, one of your first steps will be finding a mortgage lender. When comparing lenders, it’s worth taking your time and choosing carefully. A good mortgage lender is a valuable resource and can make the home-buying process easier and less stressful. Direct lenders.

Loan Officers 65

Loan Officers Insurance Mortgage Sellers 65

DW Slater Company

JUNE 16, 2022

Home prices are still going up at a high rate. Prices are up 22% – 32 % from the same time last year. Homes are still selling over the list price and the supply of homes is still very low. In our markets, very low supply has been coupled with very high demand which has been the catalyst for the home price appreciation.

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Supply Chain Real Estate Investors Appraisal 159

McKissock

JULY 27, 2021

This year we’ve seen intense homebuyer competition nationwide, with a record-breaking number of homes selling above asking price in March 2021. As a real estate appraiser, you’ve likely encountered assignments in which the purchase price is not supported by the available comps. ” Here’s what they said.

Appraisal 109

Appraisal Contracts Clients Marketing 109

Appraisal Hub

OCTOBER 12, 2021

A residential or commercial appraisal may be requested by mortgage lenders from their preferred appraisal firms in Toronto. Sellers of residential and commercial properties set the sale price that is based on fair market value. The results will be an unbiased professional opinion on the value of the real estate.

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Property Appraisal Appraisal Market Value Real Estate 78

East Coast Appraisal

JUNE 10, 2022

Most buyers opt to finance the purchase of a home through a mortgage lender. Lenders will usually require an appraisal to determine the value of the property before approving a mortgage loan. It is possible for the appraisal price of a property to be lower than the agreed-upon purchase price between buyer and seller.

Appraisal 52

Appraisal Appraisal Process Real Estate Sellers 52

AmeriMac

APRIL 15, 2024

Whether you’re a buyer looking to secure a mortgage, a seller determining the asking price, or a homeowner considering a case of a refinance, understanding how to order a home appraisal quickly is essential for a successful home purchase. How Home Appraisals Affect Your Mortgage Home appraisals play a crucial role in mortgage loans.

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Appraisal Appraisal Process Real Estate Renovations 36

Birmingham Appraisal

AUGUST 30, 2023

Market Fluctuations: Real estate markets are dynamic, and prices can fluctuate based on supply and demand. Inaccurate Property Information: Incorrect property information in public records can lead to inaccurate appraisals. It is up to the homeowner to make sure the information is accurate.

Appraisal 78

Appraisal Appraisal Process Renovations Market Value 78

Housing Wire

MAY 10, 2023

” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. MBA urges FHFA to continue its engagement to improve clarity and transparency regarding the GSEs’ pricing framework.”

Logistics 538

Logistics Realtors Mortgage Government 538

Appraisal Today

JULY 28, 2023

To join his list, send an email to dtowne@fidalgo.net requesting to join. NOTE: Please scroll down to read the other topics in this long blog post on non lender appraisals, USPAP and Bias, Fannie changes, unusual homes, mortgage origination Futuristic in Folsom, CA, near Sacramento for $2,395,000 4bed 4.5+bath Thanks to Dave Towne!

Appraisal 79

Appraisal Contracts Mortgage Clients 79

McKissock

AUGUST 7, 2020

Sometimes, the review appraiser will come back with requests for extra information, or doubts, that the original appraiser might find annoying. Reviewers are actually on your side,” he continues, “and we want to work with you to make sure that your reports are USPAP compliant and meet the requirements of the lender.

Appraisal 94

Appraisal Real Estate Property Management Training 94

AmeriMac

MARCH 1, 2024

Private mortgage insurance (PMI) is often required when the down payment is less than 20% of the purchase price. Understanding the Basics of Private Mortgage Insurance Private mortgage insurance, commonly known as PMI, is a type of mortgage insurance that safeguards lenders against the risk of borrower default. Why is PMI Required?

Appraisal 36

Appraisal Insurance Appraisal Process Mortgage 36

Housing Wire

JULY 25, 2023

As a result, the Insurance Information Institute estimates that Floridian homeowners are on track to pay an average of $4,000 a year in insurance in the near future, nearly three times the U.S. California home price changes based on proximity to wildfires in 2020, by percent change.

Insurance 370

Insurance Housing Market Marketing Agents 370

PennyMac

FEBRUARY 13, 2024

In a standard home purchase scenario, prospective homebuyers apply with a lender to obtain conventional financing to get the new home on their wishlist. You’ll want to be sure to get a written release of liability signed by both you (the original loan holder) and the lender to remove yourself from any further responsibility on the loan.

Mortgage 53

Mortgage Sellers Buyers Finance 53