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Title insurance industry premiums spike $7B year over year

Housing Wire

billion in 2020, an increase that ALTA attributed to historic mortgage origination activity and the substantial increase in home values. Incredibly low mortgage rates (led) to an unprecedented increase in real estate transactions and substantially higher home values,” Diane Tomb, the CEO of ALTA said in a statement.

Insurance 342
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Hot home-equity market fueling securitization deals

Housing Wire

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for tapping into home equity.

Marketing 381
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CFPB investigating Rocket Homes for illegal kickbacks

Housing Wire

Quicken contested the claims, replying in a statement that it was “irrational to conclude that the customary practice in the 2004 to 2009 timeframe – where homeowners willingly provided their estimate of their homes value to the appraiser – could somehow result in a judgment against lenders for damages.”

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Supreme Court orders review of recession-era class action against Rocket

Housing Wire

million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009. The lawsuit, filed in 2011 in the Circuit Court of Ohio County, West Virginia, claimed that the nonbank lender wrongly influenced home appraisal values during the financial crisis.

Appraisal 420
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Title insurance industry volume rises 3.6% in Q1

Housing Wire

billion in premiums, which ALTA attributed to historic mortgage origination activity and the substantial increase in home values. “A A strong purchase market and continued home appreciation helped offset ongoing contraction in refinance volume to help drive the 3.6% The post Title insurance industry volume rises 3.6%

Insurance 302
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ALTA: Protecting property rights with title insurance

Housing Wire

For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. nationally since 2004 and roughly 5% the past two years, based on the most recent industry data from 2021.

Insurance 473
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Ready to Buy in Orange County? These Are the Cities You Can Afford

Realvals

Skycrest Newport Coast $13,800,000 12000/SEE 2004 0.61/26,588. Orange County home values continue to rise with no signs of slowing down anytime soon. Strand Beach DR Dana Point $17,225,000 8838/E 2010 0.236/10,289. Ocean WY Laguna Beach $16,000,000 5650/E 2009 0.23/10,019.