Every real estate transaction involves risk, whether you are the buyer or the seller. And during a real estate transaction, either party can include specific contingencies to help mitigate some of the risks. Common contingencies may allow either party to
Mortgage applications rebound following drop in rates
After six consecutive weeks of dips, mortgage applications rose 8.6% in the latest report from the Mortgage Bankers Association. The jump in applications can be traced to mortgage rates falling to the lowest level in two months, prompting a small
FHFA sets extensions and expirations on loan flexibilities
The Federal Housing Finance Agency (FHFA) announced on Wednesday that due to “low usage” it is no longer extending expirations on certain temporary loan origination flexibilities for Fannie Mae and Freddie Mac. The regulator is also advancing permanent changes to be made in
What do Home Inspectors Look for?
A home inspection is a standard step in the homebuying process. While you may certainly wave this contingency in your offer letter, it’s recommended to have any home you’re looking to buy inspected. And not just anyone can perform the
Fudge says HUD will focus on housing discrimination
As lawmakers take up housing-related bills in Congress, Housing and Urban Development (HUD) Secretary Marcia Fudge laid out her priorities during an address at the Mortgage Bankers Association’s spring virtual conference. Fudge hailed the passage of the American Rescue Plan
HUD releases $8.2 billion in relief funds for Puerto Rico
Plans initiated by the Biden administration in February to release billions of dollars in aid to Puerto Rico are now coming to fruition with a revised distribution of $8.2 billion, according to a Monday release from the Department of House
Knox Financial announces $10 million in Series A funding
Fintech company Knox Financial announced Monday a $10 million Series A funding round, led by G20 Ventures. That’s $14.7 million of total funding to-date for Knox. Other investors included Greycroft, Pillar VC, 2LVC, and Gaingels. Knox oversees a portfolio of
Forbearance volume dips down to 4.5%
Servicers’ total number of loans in forbearance dropped for the seventh week in a row, down another 16 basis points last week to 4.5% of portfolio volume, according to the Mortgage Bankers Association. Following the massive decline the week prior,
CFPB begins cracking down on mortgage servicers
The Consumer Financial Protection Bureau (CFPB) is making good on its threats to police mortgage servicers. In late January, the agency released a series of authority actions warning servicers that they need to do right by consumers who need access
Keller Williams’ holding company names 3 execs
Keller Williams Realty is revamping its leadership team yet again, announcing on Monday three senior hires to a recently created holding company. Carl Liebert, CEO of KWx – which formed in October as the holding company for Keller Williams, named
Rocket Community Fund founder on affordable housing
Last year, Laura Grannemann’s dedication to providing Americans with access to safe and affordable housing earned her a spot as one of HousingWire’s 2020 Women of Influence. Today, her passion is still apparent in the work that she’s doing to
Passport Title integrates Qualia products
Passport Title Services LLC will use Qualia as its new title production software, after officials announced the company invested in Qualia Core and Qualia Connect to aid clients. Headquarterd in Rockville, Maryland, Passport Title focuses on real estate settlement processing
The housing market won’t crash in 2021. Here’s why
A recent article published by CNBC showed that internet searches for the term “housing crash” had gone up 2,450% in the past month. A lot of folks are concerned about a housing market crash. They may be wishing for it,
The jumbo market for brokers is back in a huge way
With intense demand for homes on the higher end of the pricing spectrum, new updates to the QM rule that went into effect on March 1 and growing investor interest in jumbo mortgages – this is the perfect time for
Why isn’t mortgage industry alarmed by FHFA actions?
There is a well-known analogy about a frog and a pot of water. If you drop a frog into a boiling pot of water, the frog will leap out. But if you drop a frog into a pot of cold
M&A in the title industry? Don’t make these mistakes
As HousingWire reported earlier this year, 2021 will be a year of heightened M&A activity — and not just for mortgage lenders and originators. As the refinance wave gives way to a purchase market, consolidation is already upon us – even
Blend, valued at $3.3B, plans to go public
Blend Labs filed a confidential registration statement with the Securities and Exchange Commission on Friday, signaling its intent to enter the public markets. The dropping of the S-1 closely follows the mortgage tech firm’s big venture capital raise in January,
Housing market inventory is starting to recover
Housing starts jumped in March, recovering from a bleak February that included wild winter storms in the South, according to a recent report from the Census Bureau. Single-family housing starts rose 15.3% over the month to a pace of 1.24
Want to boost your home’s property value? Plant a tree
There’s no denying shopping for a home is time-consuming. You have to pay attention to everything – the neighborhood, floorplan, proximity to work, school district and cost. Even if you plan to live in the home for years, you want
Higher mortgage rates symbolize an economy rejuvenated
In 2020, housing was an economic bright spot for a nation shuttered inside. Globally speaking, things look much different roughly a year later – jobs are returning by the millions, a series of viable vaccines are being deployed across America,
2 million refi candidates eligible after mortgage rate drop
Another 2 million borrowers could save an average of nearly $300 a month on a refinance thanks to last week’s 10-basis-point drop in mortgage rates. Recent data from Black Knight found the number of high-quality refi candidates moved back up
Here it is: A bill to help first-time homebuyers
Consumers have been closely following President Joe Biden’s proposed first-time homebuyer tax credit, but the latest legislative effort to assist homebuyers differs in several significant ways. The newest draft of a down-payment assistance bill would provide $25,000 to first-time homebuyers,
Black Knight and Stavvy receive MISMO RON certification
Data analytics giant Black Knight and digital mortgage vendor platform Stavvy are the latest companies to officially receive the Remote Online Notarization (RON) compliance certification through the Mortgage Industry Standard Maintenance Organization (MISMO). Their initiation marks the ninth and 10th companies to
All Eyes on Purchase at Engage Marketing event June 17
HousingWire’s fourth-annual Engage Marketing event will feature experts focused on the specifics of mortgage and real estate in a purchase market. While appetite for refinance loans will plunge in the second half of the year, a huge demographic wave of
