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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 433
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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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Is time the enemy of equity for chronically distressed homeowners?

Housing Wire

The remaining 130,000 properties were scheduled for foreclosure auction only once. Rapid home price appreciation can sometimes help slow the rate of lost equity as it did in 2021, when distressed homeowners lost an average of $377 a month.

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Mr. Cooper exits reverse servicing space with sale to MAM

Housing Wire

Terms of the deal were not disclosed, but statements from Mr. Cooper company leadership detailed that the transaction will not have a significant impact on its second quarter 2021 results. The development is particularly notable due to the recent activity of MAM in the realm of reverse mortgage servicing.

Mortgage 392
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Opinion: How did homeowners get into home equity prison?

Housing Wire

While the person sits back and watches the value of their house climb to levels that have never been seen before, they are still struggling to get back to their pre-pandemic income level while also having to pay more for homeowner’s insurance and property taxes, not to mention the fact that all of their other bills have increased as well.

Law 423
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Opinion: Fannie Mae’s title insurance pilot program overreaches

Housing Wire

Unfortunately, one of the proposals the President mentioned in the SOTU was to revive a previously discredited and shelved pilot program that would waive the requirement for lender’s title insurance on certain refinances by Fannie Mae. million in claims paid in 2021. In 2022, the industry paid more than $596.1 million in claims.

Insurance 425
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When borrowers ‘ghost’ their servicers

Housing Wire

million homeowners became delinquent and entered forbearance between March 2020 and November 2021, the end of the fiscal year. Department of Housing and Urban Development approved housing counseling agencies to do more effective outreach to some of the harder-to-reach borrowers. Who’s afraid of the CFPB?

Law 363