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

Housing Wire

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans.

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Consumer education at the center of wire fraud mitigation efforts

Housing Wire

home buyers and sellers it survey were targeted with suspicious or potentially fraudulent activities, while 10% were targeted for real estate fraud and 5% suffered losses during their real estate transaction due to fraudster. Even as the housing market slowed in 2022 and 2023, the fraudulent activity of bad actors did not let up.

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Pending legislation would end home inspection waivers in Massachusetts

Housing Wire

The legislation generally prohibits a residential home seller from (1) conditioning the sale on the potential buyer waiving or limiting an inspection; or (2) accepting an offer if they have been informed in advance that the prospective buyer intends to waive their right to an inspection,” the Connecticut research report states. and Canada.

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Payload partners with PDS to integrate SoftPro

Housing Wire

The integration also aims to tackle the payment procedure during a real estate closing, in which several parties receive payments through sources like broker/agent commissions, underwriter fees, title search fees, taxes, payoffs and seller proceeds. To boot, check fraud is also on the rise.

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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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‘Fraudsters gotta eat too:’ The title industry navigates an uptick in fraud

Housing Wire

What it means is there is a higher percentage of potential fraud per file,” Elizabeth Berg, the vice president for education and training at FNF Family of Companies , told attendees of the American Land Title Association’s ALTA One conference on Thursday. Fewer homebuying transactions means less fraud , right? “No!

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Mortgage and title firms grapple with recent rise in cyberattacks

Housing Wire

In addition to accepting what industry professionals feel is inevitable, cybersecurity experts stress the importance of protecting passwords and training employees on basic security principles. In addition to backups, cybersecurity experts also stressed the importance of having a cyber insurance policy. “A

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