Mortgages

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.