Mortgages

The law, set to go into effect later this year, was introduced to prevent potential money laundering in all-cash purchases made by companies or trusts.

April was a mixed bag for title companies, executives said on earnings calls, but some are expecting a stronger market the rest of the year.

A bipartisan group of representatives co-sponsored the bill, aiming to make permanent and expand eligibility for a deduction previously offered for 14 years.

Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.

Lumber retains protections for now, but construction stocks still fell, and while the initial market reaction lowered rates, there could later be a reversal.

Publicly traded lenders, including UWM, Rocket Mortgage and Guild Mortgage, saw personnel expenses increase significantly throughout last year.

The measure applies to mortgages closed in the months prior to the Southern California wildfires, which are now experiencing early-stage distress.

The postponement would pertain to Federal Housing Administration-insured single- and multifamily loans and other final determination dates that have not passed.

Scott Turner, secretary of the Department of Housing and Urban Development, extended borrowers more leeway after he toured the region with a local official.

The jump, which represents an ICE Mortgage Technology survey high, reflects the past cost of natural disasters like hurricanes in the Southeast.

The rapid rise in the cost of both insurance coverage and taxes leaves close to half of homeowners worried about their ability to make payments.

The increase in refinance originations in the fourth quarter trickled down to the title insurers, which reported year-over-year gains in new orders.

The state's insurance commissioner made the change following analysis of title industry profits and expenses in Texas provided by its stakeholders.

As homeowners insurance becomes expensive and hard to find, mortgage loan officers should work closely with insurance agents, said Travis Hodges of Viu by Hub.

With proposed tariffs on homebuilding materials working looming and a cloudy forecast for mortgage rates, young homebuyers are facing increased volatility.

The private mortgage insurers reported just 5% less business versus the third quarter and 33% more new insurance written over the fourth quarter 2023.

The consortium of businesses intends to work with state regulators to protect consumers as interest from secondary market investors also grows.

A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable housing.

Members whose districts include Altadena and Pacific Palisades are behind the measure, which calls for an initial 180-day forbearance period.

The nation's largest homeowners insurance providers imposed rate hikes in double-digit percentages last year, led by Farmers' 53.5% increase in Maryland.