Real Estate News

FEBRUARY 22, 2023

The government announced a plan to cut mortgage insurance rates by 0.3 percentage points, which could save eligible homeowners an average of $800 a year.

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Housing Wire

DECEMBER 26, 2022

With the housing market slowing down from its pandemic-fueled frenzy, wire fraud threats, regulatory challenges and the perennial challenge of an aging workforce, the title insurance industry will have a lot to juggle in the new year. For the title insurance industry, she feels this will result in a thinning of the herd.

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Housing Wire

APRIL 14, 2023

The benefits of homeownership only accrue if first-time buyers can both successfully purchase a home at a reasonable price and remain in it for the long-term, weathering various economic cycles. However, buyers are contending with rising interest rates , high home prices and constrained inventory. Today, roughly $1.5

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Housing Wire

OCTOBER 13, 2022

Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for. We haven’t seen any real data based on the conversation that it is going to save money.

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Housing Wire

APRIL 14, 2022

Fannie Mae generated some buzz last week when it announced it would be accepting written attorney opinion letters in lieu of a title insurance policy “in limited circumstances.”. Title insurance came to be because attorney title opinions were not adequate for the marketplace.

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Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. In the realtor survey, Millennials were the largest home buyer generation represented.

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Housing Wire

FEBRUARY 26, 2024

The cost of homeowners insurance has surged in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. And homeowners insurance costs are three times higher in Florida than the national average. It’s causing buyers to rethink their plans.”

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Housing Wire

SEPTEMBER 14, 2022

Amrock , a national provider of title insurance, property valuations and settlement services and a division of Rocket Companies , rolled out technology to electronically close mortgage transactions from a mobile device. The post Amrock’s new tech allows buyers to close loans from mobile devices appeared first on HousingWire.

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Appraisal Buzz

MAY 6, 2024

Does the cost of homeowners insurance affect the price of a home? In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters. In some markets, the answer is increasingly yes.

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Housing Wire

JUNE 23, 2023

CCM offers a range of over 120 mortgage, refinance, and home equity solutions, including conventional and jumbo mortgages, as well as government-insured programs for veterans and rural homebuyers. The company’s growth and culture have been acknowledged nine times on the Inc.

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Housing Wire

NOVEMBER 8, 2023

The National Association of Realtors (NAR) on Wednesday unveiled its state flood disclosure tracker tool , aiming to offer clarity and access to survey existing state disclosure requirements for flood insurance. A lapse in NFIP will take place if the government enters a shutdown, which will take place on Nov. 17 unless Congress acts.

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Housing Wire

MARCH 11, 2024

Lawmakers are still debating the official federal budget, and there’s an elevated risk of a government shutdown, Boltansky wrote in a report on Friday. The initiative helps with the lack of houses for sale, but these sellers are likely to become buyers again and will continue pressure the market. percentage points and helping about 3.5

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Urban

JUNE 16, 2021

Data show that flat-out rejection of buyers seeking government-backed loans disadvantages households with lower incomes, lower credit scores, and less wealth, many of whom are people of color.

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Housing Wire

SEPTEMBER 28, 2023

Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said. Some would-be home buyers are taking a pause and readjusting their expectations about the location and type of home to better fit their budgets.”

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Housing Wire

DECEMBER 14, 2023

Asian borrowers pay $13 less than non-Hispanic white borrowers (the control group); low-income borrowers pay $14 more; and first-time home buyers pay $11 less than repeat buyers. Homeowner’s insurance, the servicer, and even the GSE (the actual holder of the default risk on the mortgage), represent small overall costs by comparison.

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Housing Wire

MAY 22, 2023

Dubbed ONE+, a buyer using this program who’s purchasing a single-family home, and whose income is equal to or less than 80% of their area median income (AMI), is only required to make a down payment of 1% of the purchase price. Rocket Mortgage introduced a new 1% down home loan program aiming to target more than 90 million borrowers.

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Housing Wire

JANUARY 18, 2024

“Because that was one of the things I mentioned in my paper: one thing that’s urgently needed is to have this liquidity facility so that lenders — when they buy loans out of pools at ninety-eight percent — they can actually turn around and use them as collateral, again, for a government-guaranteed security.” That’s all it says.”

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Housing Wire

OCTOBER 18, 2023

. “We’re hoping to have a final policy [for the payment supplement partial claim] out before the end of the year, although I will say keep your fingers crossed that we don’t face any lapse in appropriations that would shut down the government.” 14-17 in Philadelphia. ”

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Housing Wire

NOVEMBER 10, 2023

Meanwhile, buyers offer bigger down payments to lessen the cost of monthly payments In September, buyers were typically putting down 16.1% In those cities, the typical buyer put down 25% of the purchase price. In September, government-insured FHA loans represented a little over 15% of U.S. respectively.

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Housing Wire

JANUARY 5, 2021

According to Fannie Mae , one of the biggest obstacles for first-time buyers is coming up with a down payment. . Saving this amount of money might be a challenge for some prospective buyers, which is why mortgage lenders offer options that require lower down payments. For most mortgages, lenders require a down payment.

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Housing Wire

MARCH 28, 2024

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit. Yet help might be on the way.

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Housing Wire

MAY 31, 2023

California markets like the ones listed above already face a number of challenges, but news over the weekend could make it even more challenging for buyers. Well, State Farm last week announced that it would halt home insurance sales in California. State Farm is the nation’s largest car and home insurer by premium volume.

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Housing Wire

APRIL 23, 2024

At the top of industry leaders’ minds for how the outcome of these lawsuits will potentially harm consumers is how buyers will be able to afford and pay for buyer representation. “I But Dwiggins is more optimistic that the government-sponsored enterprises (GSEs) will come around sooner rather than later. “I I don’t know.

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Housing Wire

JUNE 8, 2023

Fannie Mae dropped a bomb on the title insurance industry in April 2022, when it adjusted its selling guide to allow the purchase of loans using attorney opinion letters (AOLs). We strongly believe that title insurance is, and always will be, essential,” the American Land Title Association wrote in an email to HousingWire in April 2022.

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Housing Wire

APRIL 10, 2023

It means that first-time buyers using VA loans will see guarantee fees fall 15 basis points, from 2.30% to 2.15%, and other buyers will see a 30-basis point improvement, from 3.60% to 3.30%. Mortgage loan fees should not be higher than needed to safely run government-backed lending.

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Housing Wire

SEPTEMBER 15, 2023

Listen to all of these really great mortgage programs (most agents and buyers don’t know about these!) FHA mortgage programs The Federal Housing Administration (FHA) provides easy-to-qualify government insured loans. You can even search for investors, first time buyers, first responders, etc.

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Housing Wire

JANUARY 27, 2022

housing entities are at odds over the future of the federal government’s cash-strapped flood insurance program. But Fannie Mae , the government-sponsored entity that backstops a significant portion of the country’s mortgages, does not seek an exception to the 1974 Federal Privacy Act. Two of the most powerful U.S.

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Housing Wire

MAY 9, 2022

The Federal Housing Administration said that nonprofit organizations and owner-occupant buyers will have first dibs on foreclosed properties that get auctioned off through its Claims Without Conveyance of Title (CWCOT) program, specifically prioritizing these groups over investors.

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Housing Wire

AUGUST 10, 2023

The share of distressed property auction buyers who say they are owner-occupants nearly doubled over the last year, boosted by a game-changing government policy that took effect last August. That was nearly double the 8% of buyers who described themselves as owner-occupants in a February 2022 Auction.com buyer survey.

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Raleigh Realty

MARCH 29, 2021

Buying a Home As a Government Employee Are you a government employee preparing to buy a home? With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Who Is a Government Employee?

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Housing Wire

NOVEMBER 16, 2020

FHA mortgages are insured by the Federal Housing Administration. The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. Who they’re best for: First-time homebuyers, low-credit score buyers. Who they’re best for: Buyers with good credit.

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Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. So, it’s definitely not like selling a loan to a GSE (government-sponsored enterprise). You need a buyer and seller,” Brown said.

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Housing Wire

DECEMBER 22, 2022

The challenges buyers face today are significant: higher interest rates, higher home prices, historically low inventory, increasing costs for labor and materials and supply chain challenges. And during that decade or two, home prices may continue to rise, and the potential buyer will lose the opportunity to build wealth through equity.

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Housing Wire

MARCH 21, 2024

House of Representatives Subcommittee on Housing and Insurance hearing on Wednesday, members focused on the challenges faced by today’s homebuyers. Davidson added that he has “a hard time” agreeing that “more government interference in single-family housing is the answer.” Andrew Garbarino (R-N.Y.).

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Housing Wire

APRIL 11, 2024

In just the last year, the Department of Justice has called for a full dislocation of real estate commissions between sellers and buyers, and special committees have been set up to reimagine appraisals. ”

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Housing Wire

NOVEMBER 7, 2023

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. Mortgage professionals voiced their concerns of the potential ripple effects that might have on those cash-strapped buyers, depending on the results of the commission lawsuits.

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Housing Wire

SEPTEMBER 14, 2023

After more than a decade of under-building relative to population growth, there are simply not enough affordable entry-level and first-time move-up options available for buyers. For local governments, ADUs can increase the number of tenants in areas where high-rise dwellings are not a desirable option. million homes.

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