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UWM cuts out title insurer with updated TRAC+ program, rolls out 0% down purchase initiative

Housing Wire

UWM’s TRAC+ announcement comes as the federal government pushes title insurance alternatives designed to save consumers money. the company also announced ChatUWM, an AI-powered search engine that provides instant responses to clients, including guidelines, matrices, lender tools, and technology. 0% down During UWM Live!

Insurance 381
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Rhode Island historian uses a reverse mortgage as an estate planning tool

Housing Wire

The 2023 reverse mortgage limit for Federal Housing Administration (FHA)-insured Home Equity Conversion Mortgages (HECMs) stood at $1,089,300, but proprietary reverse mortgages are not subject to FHA limits. After re-obtaining the property, “the Conleys applied for and received a $4.99-million

Tools 362
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Floify’s new platform aims to provide flexible pricing for mortgage lenders

Housing Wire

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said.

Mortgage 374
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Going to Extremes

Appraisal Buzz

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.

HOA 370
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HUD seeks public comment on updates to reverse mortgage documents

Housing Wire

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. In particular, HUD Form 92900–C is designed to “collect loan-level data that is needed for insuring purposes and not found on Fannie Mae form 1003,” according to the notice. It’s not a bad tool.

Mortgage 346
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ICE looks to rethink the mortgage servicing experience

Housing Wire

Intercontinental Exchange (ICE) introduced MSP Digital Experience (MSP DX), a conversational user interface designed to interact with the company’s leading mortgage servicing system, MSP. It also unveiled two new tools , Validate ROV and Validate Selector, that were added to its growing suite of property valuation solutions.

Mortgage 342
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NAR releases flood disclosure tracker as federal shutdown looms again

Housing Wire

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. Department of Homeland Security ’s Assistant Secretary for Legislative Affairs Alice Lugo to Vice President Kamala Harris.

Legal 327