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Feds seek to enlist real estate agents in anti-corruption push

Housing Wire

The Financial Crimes Enforcement Network , or FinCEN, is floating a proposed anti-money laundering rule that could impose reporting mandates on a broad swath of professionals in the residential real estate market, including real estate agents, brokers, attorneys, title insurance companies and settlement agents.

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As title insurance volume shrinks, workers take on more tasks

Housing Wire

As the mortgage rate environment became increasingly volatile in August and early September, one in three title insurers reported order volume that was below or far below average. One of the things that we are currently working on is a new consumer facing website that is focused solely on bringing talent into the title insurance field.”.

Insurance 377
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Consumer education at the center of wire fraud mitigation efforts

Housing Wire

Of the survey respondents that reported receiving fraudulent communications, 26% reported that it came from a potential buyer or seller, 22% came from a real estate agent, 15% from a lender, 14% from an attorney working on the transaction and 12% from the client’s title agency.

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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 445
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Brokerage executives double down on their lead generation strategies

Housing Wire

Djon Luxury Real Estate is expanding its sell-side business, training buyer-side real estate agents on the necessary contracts and selling their value to the consumer. Now, they’re incentivized because they share the profits in the title insurance,“ Samson explained.

Brokerage 360
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How Reverse for Purchase can help baby boomer borrowers

Housing Wire

[They likely] would feel much more confident that they can keep a significant amount of the proceeds from their departure home and not have to make monthly mortgage payments, provided they continue to pay their taxes and insurance and maintain the home,” said Rob Cooper, National Purchase and Builders Sales Leader for Longbridge. “If

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7 money moves to make now for a prosperous 2024

Housing Wire

Here’s a financial checklist that real estate agents and mortgage professionals should complete before the end of the year for more success and financial security in 2024. Here are a few to consider: Education: Costs for continuing education , training, books and conferences.