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Fidelity CEO says federal government’s title insurance proposals are ’misguided’

Housing Wire

The firm attributed its stronger results to better performance from both its F&G segment and its title insurance segment. In April, purchase open orders per day were up 4% over last year, but higher mortgage rates may temper purchase volumes going forward. The firm’s title segment reported $1.7

Insurance 436
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Private-label securities are in demand as investors bet Fed peak is reached

Housing Wire

And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. And future rate cuts mean less return [for investors].

Investors 404
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Better launches white-labeled mortgage-as-a-service platform 

Housing Wire

New York-based digital lender Better Home & Finance Holding Company has partnered with information technology consulting company Infosys on a mortgage-as-a-service platform. Better’s mortgage as a service currently consists roughly 20% of its revenue and the lender aims to grow this business line, Garg said.

Mortgage 392
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Secondary mortgage market adjusts to higher-for-longer rates 

Housing Wire

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

Marketing 416
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All-cash transactions gain traction amid high mortgage rates: Redfin

Housing Wire

Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. High mortgage rates are exacerbating inequality between people who own homes and people who don’t,” Redfin Senior Economist Sheharyar Bokhari said. In those cities, the typical buyer put down 25% of the purchase price.

Mortgage 433
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Once at the fringes of housing finance, home equity investment companies look to grow their stake

Housing Wire

Fintechs involved in homeownership investments have been around for nearly two decades, but it wasn’t until recently that a handful of them have been backed by big investors seeking to take the HEI product mainstream. The market, however, is expected to grow as HEI companies seek to partner with mortgage lenders and real estate brokerages.

Finance 425
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Opinion: Title and settlement fees aren’t a barrier to homeownership

Housing Wire

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.

Insurance 422