Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market.

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Mortgage Renovations Appraisal Process Finance 437

Housing Wire

APRIL 5, 2024

mortgage industry recently had to remind itself of this fact when a CNN analysis found that the nation’s largest credit union, Navy Federal, has the widest disparity in mortgage approval rates between white and black borrowers of any major lender. Is the mortgage industry offering fair access to loans? credit histories.

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Mortgage Lending Buyers Property Management 413

Housing Wire

SEPTEMBER 27, 2023

Many of these laws target specific types of real estate deemed crucial to national security, such as farmland or property near military installations, while other laws apply more broadly to all types of land. Laws should also be clear on the role title insurance professionals play in facilitating transactions with foreign owners.

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Law Real Estate Legal Insurance 406

Housing Wire

MAY 8, 2024

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008.

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Inventory Law New Listings Sellers 509

Housing Wire

MARCH 28, 2024

The National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA) are asking federal housing officials to confirm their treatment of interested party contributions (IPCs) to home purchase transactions. Sellers or buyers can pay the buyer’s agent’s fees. NAR also sent a letter to the U.S.

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Real Estate Agent Sellers Buyers Agents 446

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75 year-over-year.

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Mortgage Loan Officers Buyers Inventory 417

Housing Wire

MARCH 22, 2023

Mortgage rates, which climbed upward one day and went down the next in the wake of the recent wave of bank failures, will continue to be volatile before it stabilizes, industry watchers said. “The As that uncertainty drains away, mortgage rates will have smaller day-to-day swings.” What does it mean for buyers, sellers?

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Mortgage Sellers Buyers Housing Market 395

Housing Wire

MARCH 11, 2024

“With a 10% increase in year-over-year total transactions — even in a down market — NotaryCam is poised to drive even more RON adoption across multiple verticals in 2024 while also continuing to champion mortgage lenders’ digital transformation efforts.” Last year saw NotaryCam execute transactions in 160 of 192 countries worldwide.

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Law Real Estate Sellers Investors 417

Housing Wire

MARCH 29, 2024

Wang claims that he found the properties on his own via searches on Zillow and StreetEasy , but when he expressed interest in submitting offers, listing agents refused to engage because he was an unrepresented buyer. Wang is demanding damages and a jury trial.

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Advertising Real Estate Realtors Buyers 437

Housing Wire

JULY 7, 2022

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. Slow construction and restrictive zoning laws.

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Inventory Marketing Mortgage Supply Chain 395

Housing Wire

NOVEMBER 8, 2023

Current legislative proposals would require states to “mandate a real estate-related disclosure form with specific flood-related questions,” which would require 49 states to “make significant amendments to its laws and regulations” leading to an administrative and enforcement burden, NAR said. 17 unless Congress acts.

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Legal Law Insurance Real Estate 410

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

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Sellers Buyers Agents Real Estate Agent 427

Housing Wire

NOVEMBER 29, 2022

The federal government, through government sponsored enterprises Fannie Mae and Freddie Mac , for the first time ever will also back mortgage loans north of $1 million, with the new ceiling loan limit for one-unit properties in most high-cost areas at $1,089,300 — or 150% of $726,200.

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Government Mortgage Finance Law 370

Housing Wire

DECEMBER 14, 2022

On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . Realtor.com expects mortgage rates to reach 7.1% by the year-end.

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Mortgage Housing Market Buyers Sellers 417

Housing Wire

APRIL 6, 2021

An eNote is a digital version of the promissory note which must meet the requirements of electronic transaction laws. eNotes contain the same information as a traditional mortgage note – on paper – but they are created, signed and stored digitally. Going forward, FHLBank Atlanta will accept all eNotes, per bank officials.

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Mortgage Legal Fees Law Legal 318

Housing Wire

JANUARY 26, 2024

Lamacchia also stressed that it is impossible to claim that the system is rigged because sellers can choose how much compensation they offer the buyers’ broker, or whether they even want to offer cooperative compensation. Our current mortgage finance system does not allow commissions to be plopped on top,” Lamacchia said.

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Realtors Law Agents Real Estate 437

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% In 2022, the housing market was a little hotter than this year due to lower mortgage rates, pushing home prices up. Moreover, for the first time, the federal government backed mortgages north of $1 million.

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Finance Government Law Mortgage 532

Housing Wire

MARCH 16, 2023

The Federal Housing Finance Agency ’s (FHFA’s) decision to delay implementing the controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios gave mortgage lenders a breather. “I think the industry supports eliminating the DTI-based LLPA,” he said.

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Mortgage Finance Loan Officers Law 383

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times. Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like?

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Business Marketing Real Estate Legal 406

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. 30% of the buyer’s gross income should be available to use towards their mortgage payments.

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Real Estate Government Law Buyers 417

Housing Wire

JULY 12, 2023

United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. UWM, America’s top mortgage lender, is offering Special Purpose Credit Programs (SPCP) for Fannie Mae ‘s HomeReady and Freddie Mac ’s BorrowSmart Geo-Target programs.

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Finance Law Lending Development 370

Housing Wire

AUGUST 1, 2023

Finding a dream home for your buyers can be difficult in a market plagued by low inventory and high demand. So what do you do when your buyers include more than a couple looking for their starter home or a growing family looking to raise their children? of respondents said privacy concerns are common,” the report said.

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Real Estate Agent Buyers Law Real Estate 363

Housing Wire

FEBRUARY 13, 2024

Executives highlighted strong year-over-year growth in the fourth quarter for Zillow’s residential revenue (up 3% annually to $349 million), its rental revenue (up 37% annually to $93 million), and its mortgage revenue (up 22% annually to $22 million). The law went into effect at the start of 2024.

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Agents Sellers Buyers Real Estate 405

Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. Jacob is not alone in seeing the potential upside for crypto-mortgages and AI-enabled traditional loans.

Mortgage 446

Mortgage Technology Investing Investors 446

Housing Wire

DECEMBER 1, 2023

The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan. Now he is off the sideline because a 5% down payment is completely doable,” said Krichmar, a mortgage banker at Legend Lending Corporation.

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Finance Buyers Mortgage Inventory 453

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. The mortgage industry is different from 14 years ago. in 2005, the MBA said.

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Mortgage Bracketing Loan Officers Investors 370

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) A mortgage rate lockdown freezes the housing market. over asking price.

Housing Market 525

Housing Market Marketing Real Estate Agent Real Estate 525

Housing Wire

OCTOBER 27, 2023

Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules. Listing brokers make offers of compensation to buyer brokers who bring a buyer to the table. And if those same consumers had to go it alone without buyer representation? population.

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Real Estate Agent Real Estate Realtors Buyers 462

Housing Wire

OCTOBER 5, 2022

Title industry experts say it would be a game-changer for the mortgage space, but they expect some resistance. “In the markets where it is currently accepted, we’re experiencing that about 10% to 15% of sellers use it, but about 1% to 2% of buyers use it,” he said.

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Law Sellers Buyers Technology 383

Housing Wire

AUGUST 14, 2023

billion in penalties to settle a civil action alleging misconduct related to the underwriting, issuance and sale of residential mortgage-backed securities (RMBS) before the 2008 financial crisis. In the mortgage space, UBS has plans to wind down a business in its U.S. mortgage unit that focuses on “to-be-announced” (TBA) trading.

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Investors Law Design Mortgage 369

Housing Wire

SEPTEMBER 8, 2022

When mortgage rates fall, the majority of homebuyers (including homeowners who need to sell to buy another home) are mostly employed, so lower rates greatly benefit them, and housing demand increases. So when you add move-up buyers, move-down buyers, first-time homebuyers, cash buyers and investors together, this can get out of hand.

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Inventory Law Housing Market Design 544

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. From February 2011 to April 2022, mortgage rates never rose above 5%, making the cost to borrow money and buy a home very cheap. million homes.

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Tenants Government Law Buyers 395

Housing Wire

JANUARY 17, 2023

The mortgage servicing rights (MSR) market has opened 2023 with a healthy volume of capital committed to purchasing the assets along with multiple sellers primed for deals — as evidenced by the $60 billion to $65 billion in MSR portfolio offerings currently out for bid, market experts say. Basically, too much supply equals lower prices.”.

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Marketing Buyers Sellers Mortgage 446

Housing Wire

MARCH 21, 2022

RESPA has strict rules for real estate and mortgage professionals regarding kickbacks, referrals, and unnecessary fees. Sponsorship of events can also be deemed illegal if the event is used for marketing or publicizing a real estate or mortgage company’s services. Let’s know about them. The loans that are exempt from RESPA.

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Real Estate Agent Real Estate Agents Construction 369

Housing Wire

JUNE 15, 2023

The 30-year fixed-rate mortgage rates don’t move in tandem with the Fed’s benchmark rate, but instead generally track with the yield on 10-year Treasury bonds. Where mortgage rates will go will depend on how the markets react to new economic data, Melissa Cohn, regional vice president of Wlliam Raveis , said.

Mortgage 383

Mortgage Inventory Retail Housing Market 383

Housing Wire

NOVEMBER 13, 2023

We used to sell certain tools to the agent by telling them they would be great for their buyer, but now we may have the opportunity to bring those tools right to the buyer,” Braga said. As a result, Braga said she is preparing her company to become more consumer-facing. “We

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Insurance Real Estate Agents Real Estate Agent 417

Housing Wire

MARCH 21, 2022

With no money to pay their mortgages, some underwater borrowers simply abandoned their homes. According to Sharga, zombie foreclosures are a byproduct of the complexity of foreclosure laws across the country, mainly in states where foreclosure occurs via a judicial process. The process can drag on for over 1,000 days in some cases.

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Law Inspection Insurance Government 370