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RESPA enforcement is back — are you ready?

Housing Wire

And the market has gotten much darker over the last few years. After six years of no enforcement actions and a rapidly declining housing market, RESPA attorneys believe some in the industry may be more willing to test the boundaries. “I For lenders and brokerages, the risks of LOs or agents overstepping are high.

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

Housing Wire

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).

Finance 418
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Desperate for deals, mortgage pros get creative

Housing Wire

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Niche loans consist of about 5% of Parkinson’s business. “It’s Being on multiple builders’ lists is a way to rack up more deals for loan officers. “A

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Threat of climate change looms large for some home buyers

Housing Wire

Real estate agents and LOs: the great collaboration. Technology has given consumers the power of choice and expedited the entire real estate purchasing process. Helena [California] whose home burned down in the last fire and only half of it was covered by the insurance company.

Buyers 430
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FHA or conventional? After LLPA tweaks, the calculus changes for some

Housing Wire

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based based think tank Urban Institute to hear their takes. In March, FHA Commissioner Julia Gordon made it a little cheaper.

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UWM expands bank statement loan offerings 

Housing Wire

Depending on their FICO scores, loan amounts and debt-to-income (DTI) ratios, borrowers have the option to choose from four available bank statement loan options. No mortgage insurance is required. All four loans require separate appraisals from two different appraisers for loan amounts over $1.5

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Agents fight misconceptions to win deals for military veteran clients

Housing Wire

But because inventory remains at record lows, home prices have soared to astonishing highs, and bidding wars still occur in housing market across the country, Pascoe and other real estate agents on the buy-side have had to go the extra mile to fight for their VA clients.

Clients 377