Design, Finance and Insurance - Property Appraisal Zone

As insurance costs rise, Florida homeowners are given a new option

Housing Wire

MARCH 28, 2024

Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options.

Insurance

Insurance Design Marketing Legal

Reverse purchase financing: The financing option no one is talking about

Housing Wire

JANUARY 17, 2024

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.

Finance

Finance Real Estate Agent Real Estate Insurance

Homeowners are getting worried about flood insurance costs

Housing Wire

DECEMBER 12, 2023

Homeowners are increasingly concerned with flood insurance premium hikes impacting affordability, Fannie Mae ‘s latest national flood survey showed. The latest survey is an expansion from its 2020 version and compared how homeowners’ and renters’ awareness and attitudes towards flood risk and flood insurance changed over the years.

Insurance

Insurance Home Value Government Design

HUD to allow borrowers of FHA mortgages to obtain private flood insurance

Housing Wire

NOVEMBER 21, 2022

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. . billion, did not have the required NFIP coverage.

Insurance

Insurance Mortgage Realtors Design

Treasury’s new housing plan includes redirected COVID-19 funds to boost affordable supply

Housing Wire

MARCH 5, 2024

Department of the Treasury on Tuesday announced a series of new initiatives designed to increase the supply of affordable housing across the country. The third provision is an extension of the support from the Federal Financing Bank (FFB) for “a risk-sharing initiative between the U.S. There are three core provisions of the plan.

Insurance

Insurance Construction Government Design

FOA closes on sale of Incenter’s title businesses

Housing Wire

JULY 6, 2023

Finance of America (FOA) announced Thursday that its indirect subsidiary Incenter closed the sale of its title insurance businesses. The company previously announced that it would be selling its title insurance businesses in early February. for $100 million, according to a filing with the U.S.

Business

Business Insurance Finance Retail

The Agency ventures into core services

Housing Wire

JULY 28, 2023

Through partnerships with Bubble Insurance Solutions and New American Funding , real estate agents at The Agency will have access to mortgage lending services and insurance services for their clients. The affiliation will provide The Agency’s agents with access to Bubble Insurance’s insurance coverage for their clients.

Insurance

Insurance Brokerage Clients Real Estate Agent

Former Fannie Mae chief named as CEO of Silicon Valley Bank N.A.

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , Treasury and introducing new technologies to the housing finance system. Founded in 1983, SVB specialized in banking for tech startups, providing financing for almost half of U.S.

Insurance

Insurance Government Design Finance

FHA increases multifamily large loan threshold

Housing Wire

JUNE 30, 2023

The goal of the increase is to “enable a greater number of transactions to use standard underwriting processes when submitted for FHA Multifamily insurance,” the agency said. Anything we can do to prudently alleviate extra steps in obtaining FHA insurance will help all of us meet the housing supply challenges before us.”

Insurance

Insurance Development Design Finance

Experts weigh in on whether seniors should get new mortgages: Bankrate

Housing Wire

JANUARY 31, 2024

This is according to experts who spoke to personal finance website Bankrate about the concept of taking on a new mortgage in retirement. Reverse mortgage industry advocates say that this helps insulate retirement resources from traditional mortgage payments. 30-year mortgages were never meant to be for them.

Property Taxes

Property Taxes Mortgage Design Finance

Federal agencies seek input on proposed AVM credibility, integrity rule

Housing Wire

JUNE 1, 2023

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

Valuation

Valuation Design Law Insurance

Opinion: Reformed FHA program will offer lenders new business opportunities

Housing Wire

MARCH 28, 2024

The result is that safe and affordable financing is out of reach for tens of thousands of credit-ready homebuyers looking to purchase a manufactured home. Demand for home-only financing is strong; in 2019, there were more than 200,000 home-only loan applications. Yet help might be on the way.

Business

Business Finance Buyers Lending

University Bank adds four reverse mortgage veterans to its HECM division

Housing Wire

JANUARY 10, 2024

Sue Haviland has also joined the division as a loan officer, coming off of a roughly three-year stint as Finance of America Reverse (FAR)’s national sales trainer in learning and development. Obviously we have a forward lending division, we have the reverse mortgage lending division and a commercial panel, as well as an insurance company.

Mortgage

Mortgage Lending Loan Officers Design

Why it’s time for the housing industry to get serious about climate risk

Housing Wire

MARCH 1, 2023

And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.

Insurance

Insurance Supply Chain Design Government

Guild Mortgage Launches Loan Program For Medical Professionals

Appraisal Buzz

NOVEMBER 3, 2021

Lender and servicer Guild Mortgage has introduced a new mortgage option designed to make it easier for medical professionals to buy their first home.

Mortgage

Mortgage Design Insurance Finance

‘There will be bank failures,’ Fed chief tells lawmakers

Housing Wire

MARCH 8, 2024

Although commercial mortgage debt is propelling these concerns, the possibility of failure for a federally insured bank has implications for the residential mortgage sector. According to the Federal Deposit Insurance Corp. FDIC), banks held $2.78 trillion in residential mortgage debt as of first-quarter 2023.

Real Estate

Real Estate Insurance Lending Retail

Rhode Island historian uses a reverse mortgage as an estate planning tool

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Tools

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Renovation loans get pandemic boost as homeowners want home offices

Housing Wire

SEPTEMBER 23, 2020

There’s a mainstay in mortgage finance poised to help in working from home. The Federal Housing Administration’s 203(k) rehabilitation mortgage insurance program is designed for borrowers to renovate when they purchase or refinance.

Renovations

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Michigan attorney general reissues reverse mortgage consumer alert

Housing Wire

APRIL 29, 2024

The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney General Dana Nessel’s office on Monday. “A The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month.

Mortgage

Mortgage Property Taxes Design Insurance

Mortgage Collaborative Adds Click n’ Close’s Correspondent Loan Program

Appraisal Buzz

MARCH 21, 2024

As a result, TMC’s members will have access to SmartBuy, a proprietary suite of down payment assistance (DPA) loan programs offered by Click n’ Close designed to give homebuyers an advantage in today’s heightened mortgage interest rate environment. billion in DPA-related financing.

Mortgage

Mortgage Design Insurance Finance

Mortgage AI firm Candor conducts layoffs

Housing Wire

MARCH 17, 2023

The firm’s automated underwriting tech is designed to augment human underwriters’ capabilities, allowing underwriters to handle more loans. The company had plans to develop automated appraisals as well as title insurance processes. In August 2021, Candor raised $12.5 million in Series A funding, led by Arthur Ventures.

Mortgage

Mortgage Clients Technology Development

FHA proposes changes to 203(k) program

Housing Wire

NOVEMBER 30, 2023

The 203(k) Rehabilitation Mortgage Insurance Program helps borrowers purchase a home or refinance an existing mortgage and includes the cost of repairs or rehabilitation into one new mortgage. Also, in the limited program, the FHA proposes that consultant fees be included in the financed mortgage, as it is permissible in the standard version.

Architecture

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CoreLogic unveils new solution to bolster security for MLSs

Housing Wire

JANUARY 11, 2024

CoreLogic has debuted a new security solution for multiple listing services designed to reduce the risk of cybersecurity threats. In late 2023, title insurance companies First American and Fidelity National Financial suffered cyberattacks. Recent cybersecurity incidents in the industry underscore the vulnerability to cyber threats.

Design

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

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. These clients are typically low on funds, which is why they need this type of financing. Potter added: “Government lending would come to a halt.

Agents

Agents Sellers Buyers Finance

Exploring Alternatives to Private Mortgage Insurance (PMI) When Securing a Mortgage

Eppraisal

SEPTEMBER 5, 2023

When purchasing a home and applying for a mortgage, many borrowers are confronted with the dreaded Private Mortgage Insurance (PMI) requirement. This creative financing technique can save you from PMI while potentially offering a lower overall interest rate on the second mortgage compared to PMI premiums.

Insurance

Insurance Mortgage Design Finance

HomeZada rolls out AI-powered chat assistant for homeowners

Housing Wire

JUNE 12, 2023

Designed by project management professionals who sought a comprehensive digital solution for their homes, HomeZada offers a suite of apps that schedule maintenance and repairs, streamline remodeling projects, document inventory for insurance purposes, and manage all associated home finances.

Project Management

Project Management Design Insurance Technology

CFPB spring agenda aims to tackle AVMs, overdraft fees, FCRA and more

Housing Wire

JUNE 21, 2023

Earlier this month, that coalition of six federal agencies requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” The Agencies expect to issue a proposed rule to implement the Dodd-Frank Act’s AVM amendments to FIRREA in June 2023.”

Valuation

Valuation Finance Legal Development

Florida-based LO accused of falsifying documents

Housing Wire

MAY 26, 2022

A spokesperson from Department of Housing and Urban Development’s Office of Inspector General said that the loans funded were FHA-insured loans. She allegedly created phony prepaid debit card statements designed to serve as records of the borrowers withdrawing the monthly child support payments.

Loan Officers

Loan Officers Clients Design Insurance

CRT protects GSEs, taxpayers from unexpected disasters

Housing Wire

MAY 26, 2021

After reading the recent report from the Federal Housing Finance Agency on the performance of Fannie Mae and Freddie Mac’ s credit risk transfer programs, anyone unfamiliar with the purposes of CRT might understandably conclude that the GSEs vastly overpaid capital market investors and insurance providers to transfer credit risk off their books.

Insurance

Insurance Investors Design Finance

Milo reaches $10M crypto-mortgage milestone

Housing Wire

JULY 19, 2022

The lender’s 30-year crypto mortgage is designed to make it easy for investors to use their digital holdings to acquire homes in the U.S. Milo also offers a tech-enabled non-crypto mortgage product that serves U.S. and foreign nationals who want to purchase a home in the U.S., or pursue refinancing.

Mortgage

Mortgage Design Insurance Lending

Servicers endorse a permanent forbearance, but under different rules

Housing Wire

MARCH 3, 2022

. “Whether it is a natural disaster, a job loss, or an illness, forbearance is wildly effective,” John Lawrence, executive vice president of the Texas-based servicer Selene Finance , said last week during the Mortgage Bankers Association (MBA) Servicing Conference in Orlando. So, it may start to come down. As of December 31, 1.3%

Insurance

Insurance Finance Government Mortgage

What Is 100% Financing for a Home Loan?

Assurance Financial

JULY 20, 2023

Fortunately, 100% financing options are available for home loans that may allow you to purchase a home with no money down. If you are looking for a home loan with 100% financing, meaning a home loan that doesn’t require a down payment, we cover what you need to know. What Is a 100% Financing Home Loan?

Finance

Finance Government Design Insurance

Trade groups warn of “unintended consequences” from proposed AVM rules

Housing Wire

AUGUST 22, 2023

On June 1 , six federal agencies requested comments from the public on a rule designed to ensure the credibility and integrity of models used in real estate valuations. the trade groups state. Department of the Treasury ; and the Federal Reserve System.

Valuation

Valuation Appraisal Government Real Estate

Can you buy a home with plans to rent on Airbnb?

Housing Wire

DECEMBER 18, 2020

Here’s what you need to know about financing that purchase. A conventional loan is a smart way to finance an income-earning property. Since FHA loans are designed for primary residences only, you’ll need to live in the home for at least a year before renting it out. Are you thinking of buying a house to rent out on Airbnb?

HOA

HOA Finance Investing Loan Officers

Regulators show united front on targeted lending programs

Housing Wire

FEBRUARY 22, 2022

Federal finance and housing regulators today issued a statement to assure lenders they are on the same page when it comes to special purpose credit programs. Lenders are left to their own devices to design the programs, based on guidelines from the CFPB, and hope they get it right.

Lending

Lending Development Finance Law

Porch.com makes Nasdaq debut, eyes acquisitions

Housing Wire

DECEMBER 24, 2020

Porch, a home services marketplace with partners in insurance, utilities, home inspection and moving, plans to use the cash to pursue acquisitions to seize the opportunity in real estate. acquisitions, divestitures and financings) of the Company.” They’ll also focus on the home insurance industry.

Inspection

Inspection Insurance Finance Valuation

FinCEN expands GTOs of all-cash home sales again

Housing Wire

APRIL 26, 2023

.; Northern Virginia and Maryland (DMV) area; the city and county of Baltimore; Fairfield County, Connecticut; the Hawaiian Islands of Honolulu, Maui, Hawaii and Kauai; and Houston and Laredo, Texas, will retain their GTO designation. real estate market to launder money.

Real Estate

Real Estate Law Realtors Design

Home equity products light up a dark housing market

Housing Wire

OCTOBER 5, 2023

These [rated offerings] can start to bring in investors like insurance companies, money managers with mutual funds that have ratings constraints, investment banks … [and more], which will provide better financing on rated bonds.” billion, according to offering documents. housing supply will sustain elevated home prices,” he added.

Housing Market

Housing Market Marketing Contracts Finance

Mr. Cooper moves closer to $1 trillion MSR portfolio target

Housing Wire

AUGUST 1, 2023

The private New York-based company, founded in 2008, manages third-party capital on behalf of insurance companies, pension funds, hedge funds and other investors. “We We continue to see significant volumes of MSRs trading in the marketplace with attractive yields.

Investors

Investors Design Insurance Investing

The Basics of Mortgages - Part 3 - Government-Insured Loans

Eppraisal

JULY 7, 2023

In this final installment of our three-part series, we will explore government-insured mortgage loans. What are Government-Insured Mortgage Loans? Government-insured mortgage loans are mortgages that are backed by government agencies, providing lenders with an added layer of protection against borrower default.

Government

Government Insurance Mortgage Design

CFPB wants lenders to disclose reason for denial of credit

Housing Wire

MAY 27, 2022

The designers historically have been unwilling to tell lenders all the factors used and how they are weighted,” Kully said. The CFPB said it is concerned automated valuation models may reflect bias in design and function. Presented by: Mortgage Coach.

Law

Law Legal Valuation Government

engage.marketing 2021

Housing Wire

JUNE 24, 2021

Panelists: Bill Dallas, President, Finance of America Courtney Graham, Chief Marketing Officer Princeton Mortgage Alcynna Lloyd, Digital Media Manager, HousingWire. Panelists: Mike Eshelman, Head of Consumer Finance, Jornaya Sarah Wheeler, Editor in Chief, HousingWire. Winning in a red-hot purchase market. Sponsored by: Watch Now.

Loan Officers

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