Fannie Mae dropped a bomb on the title insurance industry in April 2022, when it adjusted its selling guide to allow the purchase of loans using attorney opinion letters (AOLs). In the ensuing 15 months, discussion over the risks and challenges posed by AOLs consumed the title industry, so naturally,
The National Association of Mortgage Brokers (NAMB) declared its support this week for a bill introduced by Republicans in the U.S. House of Representatives that would reinstate the Loan Level Price Adjustment (LLPA) structure that was in place prior to May 1, 2023. Lawmakers proposed similar legislation in April. However,
Homebuyers these days are facing much higher costs of ownership compared to a year ago, pushing most to the sidelines. Mortgage rates and home prices are high and inventory is paltry, resulting in a largely frozen housing market. Nearly two-thirds of Americans say they are waiting for mortgage rates to drop
The U.S. debt ceiling impasse was solved when President Joe Biden signed a bill on Saturday to suspend the $31.4 trillion limit until January 2025 and cap government spending. It alleviated some pressure on mortgage rates, which declined over the past week. But uncertainties over the Federal Reserve‘s (Fed) next
Home equity levels have been on the decline over the last year, new data shows. Homeowners with mortgage loans saw their home equity levels decline by an average of 0.7% between the Q1 2022 and Q1 2023, the first decline recorded since early 2012, according to CoreLogic’s Homeowner Equity Report
It’s important for today’s lenders to be as agile, efficient and scalable as possible to adapt to consumer preferences and fast-changing market conditions. Encompass by ICE Mortgage Technology is the industry’s most complete end-to-end solution that provides the flexibility and configurability needed to deliver a next-generation lending experience for every
It’s been a brutal 15-month period for the housing market since the Federal Reserve began escalating its benchmark interest rate in March 2022 to combat rising inflation. Since then, the Fed has bumped rates 10 times, effectively putting the brakes on what had been a hot housing market. As the June 13-14
The title insurance industry is on the front lines in a never-ending war with the fraudsters. As the industry has gotten better at combatting wire fraud and even the more recent seller impersonation fraud, criminals looking for larger paydays have turned to mortgage payoffs. “The numbers are going up,” Sejal
It is no secret that housing inventory is low. As of June 2, there were 433,104 single family homes on the market nationwide, according to data from Altos Research. And while this situation is certainly far from ideal, according to a report published Thursday by the National Association of Realtors
A 10 basis point decline in mortgage rates last week wasn’t enough to spur consumer demand for mortgages, according to the latest figures from the Mortgage Bankers Association. For the week that ended June 2, mortgage applications fell 1.4% from the prior week. That was despite mortgage rates dropping to
Freddie Mac announced on Wednesday a new affordable housing program, “HeritageOne,” that is intended to boost homeownership rates in Native American communities. The program aims to provide affordable financing options for single-family properties on tribal lands found in rural areas of the nation. The goal is to widen homeownership access
High home prices and mortgage rates are continuing to constrain affordability in housing markets nationwide. As a result, consumers’ perceptions on home buying and selling have further diverged. Fannie Mae‘s Home Purchase Sentiment Index (HPSI) — which tracks the housing market and consumer confidence with selling or buying a home
Meridian Listing Agent Kevin Harper Says Idaho Real Estate Market Stronger Than Many Expected
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Zillow News Truth Delta: Opinion & Editorial