Housing Wire

AUGUST 30, 2023

At the heart of our comparative analysis, we’ll examine two popular brokerage models: the flat-fee model and the traditional model. The flat-fee model: Simplifying compensation, embracing independence In the flat-fee model, the traditional commission-based structure takes a backseat.

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Housing Wire

JANUARY 3, 2024

Reverse mortgage servicing company Celink is seeking the dismissal of a lawsuit alleging that it had added unlawful servicing fees to reverse mortgage loans alongside now-bankrupt lender Reverse Mortgage Funding (RMF). In response to the recent recommendation by a magistrate judge against the dismissal of Dancy-Wilkins v.

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Housing Wire

AUGUST 10, 2023

The flat-fee model has also been around for decades, but only in the last 10-15 years has it taken off. Flat-fee brokers advertise themselves as 100% firms. The way these firms make money is by charging a monthly fee and/or a transaction fee. In 2023, 10 years later, flat-fee firms now account for 16 of the top 100.

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Housing Wire

MARCH 8, 2023

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers.

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Housing Wire

JANUARY 5, 2022

The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio.

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Housing Wire

AUGUST 13, 2020

Fannie Mae and Freddie Mac announced they will add a 50 basis points fee to all refinances starting Sept. As a result of risk management and loss forecasting precipitated by COVID-19 related economic and market uncertainty, we are introducing a new Market Condition Credit Fee in Price,” Freddie Mac said in a bulletin. Already a member?

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Housing Wire

APRIL 21, 2023

The FHFA argues that the changes to the upfront fees on borrowers with a DTI at or above 40% would make the GSEs more “safe and sound” and help them continue to fulfill their mission to advance equitable and sustainable access to homeownership. But the DTI portion of the changes to the pricing grid was pushed back to Aug.

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Housing Wire

JULY 18, 2022

HUD officials earlier this year said cuts to borrower fees depended on the number of borrowers behind on their payments. The connection between the upfront, annual and life-of-loan fees FHA borrowers pay and funding for, say, community development block grants, is not immediately apparent.

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Housing Wire

JULY 11, 2022

Dubbed the Black Knight “fee cures suite,” the program combines loan information from the lender’s loan origination system with the firm’s Ernst fee data, as well as analytics from the company’s “actionable intelligence platform,” to minimize mandatory 0% and 10% fee cures. trillion in 2021.

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Housing Wire

AUGUST 22, 2020

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% Following the FHFA’s announcement of the fee on Aug. Following the FHFA’s announcement of the fee on Aug.

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Housing Wire

NOVEMBER 10, 2022

The increased fees that military veterans and active duty personnel pay for Veterans Administration (VA) mortgage loans should be allowed to expire on schedule, and congressional leaders should avoid any policies that would extend these fees, according the Community Home Lenders of America (CHLA).

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Housing Wire

JANUARY 21, 2022

The United States Court of Appeals for the Fourth Circuit ruled on Wednesday that borrowers can pursue a class action lawsuit against Carrington Mortgage Services regarding the fees it applied when collecting payments online or by phone. They each paid the fee at least nine times in 2018 and 2019.

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Housing Wire

APRIL 18, 2022

This includes being transparent and fair in the title and settlement fees charged to consumers when buying a home or refinancing. Recently there have been misleading claims regarding the lack of conformity in title fees. Fee disclosure is robust. Title insurance is much different than other insurance products.

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Housing Wire

AUGUST 14, 2020

After Fannie Mae and Freddie Mac announced an added 50 basis point fee to all refinances, the housing industry was quick to react. Today, the National Association of Mortgage Brokers announced growing support behind its campaign to reverse the newly announced GSE fee. The additional 0.5%

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Appraiserblogs

JUNE 1, 2023

The AMC fee was $394. We often hear complaints from GSEs and lenders that appraisal fees are too high, hence the push for modernization. As a consumer, you should be aware of the potential for being fleeced on appraisal fees. to have… Appraisal Fees ARE Being Manipulated Gas prices in California were $4.25

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Housing Wire

AUGUST 20, 2021

Low-fee, team brokerage and alternative models lead the 2021 Inc. The post Low-fee, alternative models lead real estate on Inc. 5000 rankings, mirroring the 2021 RealTrends 500 rankings. Some 69 fast growing real estate brokerage firms, teams and alternative models made the list. Top Verticals. Tech & Solutions. Already a member?

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Housing Wire

NOVEMBER 17, 2022

to around 7%, giving new urgency to the need to keep mortgage fees down on all federal agency mortgage programs — not just FHA but also VA , Fannie Mae and Freddie Mac. The latest: last week, CHLA sent a letter to Congress suggesting that VA fee hikes should be allowed to expire next April. The current 11.1%

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Housing Wire

JUNE 16, 2022

Fannie Mae and Freddie Mac plan to charge a new 50 basis-point fee for certain structured-finance offerings that use co-mingled agency securities as the underlying collateral. . The fee will apply to securities issued through structured-finance offerings known as Supers, and separately, real estate investment conduits (REMICs).

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Housing Wire

APRIL 13, 2022

Additionally, title companies are not allowed to accept any commissions or referral fees from lenders when issuing title policy coverage. Perhaps the interesting part regarding conformity in title insurance fees is found in Section 8 of RESPA (12 U.S.C. 2607), § 1024.14, regarding the prohibition against kickbacks and unearned fees.

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Appraiserblogs

FEBRUARY 1, 2024

Fellow Appraisers, the appraisal industry has been facing a major issue with AMCs violating the Truth in Lending Act (TILA) and the Customary and Reasonable fee clauses. We grew up together from elementary… The post AMCs Violating TILA and C&R Fee Clauses appeared on Appraisers Blogs.

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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. Though it’s undoubtedly a victory for the industry, it’s a partial one.

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Housing Wire

FEBRUARY 2, 2021

A coalition of 33 state attorneys general filed a motion against PHH Mortgage and its predecessor Ocwen Loan Servicing for allegedly charging unlawful servicing fees to nearly one million borrowers. If allowed, PHH could raise this fee to $19.50 in each monthly statement.

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Housing Wire

NOVEMBER 5, 2021

The money Fannie Mae and Freddie Mac earned from the adverse market fee paid for nearly the entire cost of the agencies’ Covid relief options, according to a Federal Housing Finance Agency inspector general report. The fee netted the agencies $5.3 from adverse market fee appeared first on HousingWire.

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Inman

MARCH 4, 2024

Twenty participants in the new program will not have to pay Doss' normal $15,000 franchise fee, though they will have to commit to growing their businesses.

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Housing Wire

JULY 22, 2021

When it comes to movers and shakers in the Market Leaders report, it can be boiled down to Compass and flat-fee brokerages. Flat-fee brokerages climbing quickly. Flat-fee brokerages are gaining momentum around the country. “Phoenix is a haven for iBuyers but also for flat-fee companies.” 3 in sides and No.

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Housing Wire

JANUARY 4, 2023

In October, the Federal Housing Finance Agency (FHFA) announced it will implement targeted increases to the upfront fees for most cash-out refinance loans. Under new rules, cash-out refis, which many lenders still relied upon in 2022, will be more expensive and harder to get in 2023.

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Appraisal Buzz

JANUARY 26, 2022

Bureau launches initiative to save Americans billions in “junk” fees charged by financial companies and banks. The post CFPB Seeks Elimination of Unnecessary Fees appeared first on DSNews. The post CFPB Seeks Elimination of Unnecessary Fees appeared first on Appraisal Buzz.

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Housing Wire

JULY 29, 2021

In the past, when brokers thought about low-fee brokerage firms, they thought of low service. But, there’s a new breed of low-fee brokerage (not to be confused with a discount brokerage which offers a low commission to buyers and sellers), that is a hybrid between a 100% model and a traditional brokerage. ” Q2 2021 results.

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Housing Wire

JUNE 24, 2022

Per the settlement agreement, the former loan processor at AFN will receive more $228,172 of the settlement proceeds and will recover attorney fees, expenses, and costs. The post American Financial Network to pay $1M fee to resolve fraud allegations appeared first on HousingWire.

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Appraiserblogs

FEBRUARY 5, 2024

Being beaten up about a fee increase request, new higher technology fees, or losing out to an order in a ridiculous bidding war and learning the AMC made more money than the appraiser on an order, or even having an order cancelled because someone else offered to take less compensation, are only a few of the issues the appraisal industry is facing.

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Inman

DECEMBER 5, 2023

Fee increases the flat-fee brokerage implemented for 2023 haven't stopped Fathom from growing, with Sept. 30 agent count up 13 percent from a year ago, to 11,333.

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Housing Wire

OCTOBER 20, 2020

Freddie Mac’s David Brickman and Fannie Mae’s Hugh Frater also offered their takes on challenges with affordable housing, racial disparities with homeownership, expectations for 2021 and – yes, you knew it was coming – the 50 bps adverse market fee that’s due to hit lenders doing refis beginning in December.

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Housing Wire

SEPTEMBER 16, 2020

In an interview this week with HousingWire, the 40-year-old Ishbia dished on how the third quarter is shaping up , capacity limits in the mortgage industry, the likely impact of the upcoming adverse market fee , and the company’s latest low-rate mortgage product, a 30-year fixed cash-out refi at rates as low as 2.5%. only pays 1.5

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Appraisal Buzz

JULY 16, 2021

Savings will be passed on to consumers, as lenders will no longer be required to pay the GSEs a fee when they deliver refinanced mortgages. The post FHFA Waives Adverse Market Refi Fee appeared first on theMReport.com. The post FHFA Waives Adverse Market Refi Fee appeared first on Appraisal Buzz.

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Real Estate News

MAY 10, 2023

The fees, which were scheduled to go into effect on Aug. 1, were opposed by industry groups including NAR and the Mortgage Bankers Association.

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Real Estate News

MAY 1, 2023

The new mortgage fee structure taking effect today is an attempt by the FHFA to create "equitable and sustainable access to homeownership."

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Appraisal Buzz

SEPTEMBER 6, 2022

The CFPB and state regulatory bodies are closely scrutinizing all mortgage-related fees, from the start of a loan to the ongoing servicing of the loan, to ensure compliance with the Fair Debt Collection Practices Act. The post Zeroing in on Servicer Convenience Fees appeared first on DSNews.

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