Home Prices in 2022: Going Up, Says Zillow

Newsletter - January 2022 The hot housing market we saw in 2021 doesn't appear to be cooling off anytime soon. According to the Zillow Economic Research team, home prices in 2022 will continue to rise, keeping homeownership out of reach for some would-be homebuyers. Zillow predicts the price of homes…

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Still No Spike in Foreclosure Rates as 2021 Winds Down

Newsletter - December 2021 Despite the federal moratorium ending months ago, foreclosure rates increased by just 2.6% in October, according to Black Knight's First Look report. Meanwhile, fewer homeowners are behind on their mortgage payments, with around 2 million loans at least 30 days past due in October - 1.45…

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Will the New CFPB Director Bring Back the Bad Old Days?

Newsletter - November 2021 That sound you heard on Sept. 30 was the collective groan of the mortgage industry upon learning the Senate confirmed Rohit Chopra as CFPB director for the next five years. Experts in consumer finance expect Chopra to step up the agency's enforcement activities after Kathy Kraninger's…

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Want to Pay Your Mortgage in Bitcoin? You Could Soon

Newsletter - October 2021 If you're one of the 13% of Americans who invests in cryptocurrency and you'd like to use it to make your mortgage payments, you're in luck. United Wholesale Mortgage, the second-largest mortgage lender in the country behind Rocket Mortgage, are aiming to let borrowers pay their…

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Supreme Court Ends Federal Eviction Moratorium

Newsletter - September 2021 It's finally over. The federal eviction moratorium - initially set to expire more than a year ago - was struck down by the U.S. Supreme Court last month after a challenge from a coalition of landlords and real estate groups. The ban, which was passed as…

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What is a Title Report?

A title report is a documented review of real estate property that gives a clear picture of the current status of said property. It includes the history of the property over a specified period of time, depending on the intended use of the report. This report can be used for…

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What is a Title Search?

There are so many different types of real estate documents, we understand it can be challenging to keep them all straight! Our experienced document retrieval and title search team is here to break down what a title search is and how they work. What is a Title Search? A property…

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What is Certified Document Retrieval?

There are many different types of document retrieval, but what is certified document retrieval?   Our document retrieval experts are here to teach you what certified document retrieval is and how the process works.  In the mortgage industry, document retrieval is the activity of locating any missing documents that may be…

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Foreclosure Ban Ends With Millions Still Behind on Mortgage Payments

Newsletter - August 2021 The federal eviction and foreclosure bans officially expired July 31, but protections are still in place to prevent people from losing their homes - or at least delay it for a bit longer. At the end of July, the Biden administration announced new loan modification and…

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CFPB’s New Foreclosure Rule a “Bridge” for Borrowers

Newsletter - July 2021 The Consumer Financial Protection Bureau (CFPB) announced a new foreclosure rule last month that throws delinquent borrowers with federally backed loans a lifeline when federal forbearance programs end July 31. Effective Aug. 31 through Dec. 31, 2021, the new rule will give the 2 million homeowners who are…

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Federal Forbearance Period Ending Will Test Mortgage Companies

Newsletter - June 2021 When June comes to an end, so will the federal foreclosure ban - and soon after, the forbearance programs set in place last year by the CARES Act. More than 2 million homeowners are still in those forbearance plans, according to the Mortgage Bankers Association, while another 1.8…

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Here Comes the CFPB (Again)

Newsletter - May 2021 The Consumer Financial Protection Bureau (CFPB) issued policy guidance and proposed new rules in April, signaling that it plans to prioritize mortgage-servicing oversight in the coming year. According to Reuters, the CFPB has been requesting data from servicers as to how they are handling forbearance programs…

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What Will Happen to Mortgage Rates in 2021? Experts Weigh In

Newsletter - April 2021 On the heels of the best year in history for the mortgage industry, mortgage rates inched up by about 50 basis points in the first quarter of this year. The rise has prompted industry professionals, homeowners, and aspiring homeowners alike to wonder: What will happen to…

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Mortgage Delinquency Rate Dips, But Record Highs Persist

Newsletter - March 2021 The mortgage delinquency rate dropped to 5.9% in January, dipping below 6% for the first time since March 2020, a -3.82% change month-over-month. An improvement, to be sure - but the bigger picture is more complicated. According to Black Knight's First Look at January 2021 Mortgage Data,…

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What Can We Expect from Biden’s New CFPB Director?

Newsletter - February 2021 The day before his inauguration, President Joe Biden nominated veteran financial regulator Rohit Chopra to lead the Consumer Financial Protection Bureau. An ally of Elizabeth Warren, D-Mass., Chopra served as assistant director at the agency, where he was a fierce critic of how student-loan servicers handled struggling borrowers.…

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Despite Another Foreclosure Moratorium Extension, Experts Predict Spike in 2021

Newsletter - January 2021 Foreclosures saw a significant drop last year. In fact, 80% fewer homes were foreclosed on in September 2020 compared to November of 2019. Under normal circumstances, that would be considered good news - but nothing about 2020 was normal. Unfortunately, the dip was not because fewer homeowners were…

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5 Housing Market Predictions for 2021

Newsletter - December 2020 Despite the COVID-19 pandemic and its associated economic challenges, 2020 was a banner year for housing, with price growth and home sales reaching new heights. Quick action by lawmakers helped people stay in their homes this year, but many of the protections laid out have either…

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Home Sales Surpass Expectations in Q3, But Future Uncertain

Newsletter - November 2020 Last month we talked about the housing market's V-shaped recovery, but third-quarter home sales exceeded those expectations - despite record unemployment and uncertainty caused by the COVID-19 pandemic. Bolstered by super-low mortgage rates, August home sales reached their highest pace since 2006; existing home sales were up 10.5%…

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GDP and the Housing Market Forecasts Looking up for Q3

Newsletter - October 2020 The housing market is showing a strong "V-shape" rebound, continuing to improve from its lowest point in April, according to Fannie Mae's recent Economic & Housing Outlook report. Analyzing the number of capital-goods shipments and construction activity, the report suggests that both business and housing investments "will grow…

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Fannie Mae and Freddie Mac’s Refinance Fee Gets Chilly Reception

Newsletter - September 2020 A new "adverse-market" refinance fee announced by Fannie Mae and Freddie Mac was met with fierce criticism from real estate industry leaders last month. As of Sept. 1, refinance mortgage loans sold to the GSEs include a 0.5% fee, designed to protect them from additional risk created by…

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As Ban on COVID-19 Foreclosures Winds Down, Homeowners and Renters Wait for Word

Newsletter - August 2020 As the clock ticks on the federal moratorium on COVID-19 foreclosures and evictions, homeowners and renters are anxiously wondering whether more relief is on the way - but Congress is mired in negotiations that are not expected to be resolved until early this month. The most recent…

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Foreclosure Moratorium Extended as COVID-19 Cases Surge

Newsletter - July 2020 As cases of COVID-19 spiked to more than 2.5 million in the United States, the Federal Housing Finance Agency (FHFA) last month announced that its ban on foreclosures and evictions, which was set to expire June 30th, would be extended through at least August 31st. The foreclosure moratorium, implemented in…

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Mortgage Delinquency Rate Skyrockets During COVID-19 Crisis

Newsletter - June 2020 Newsletter — June 2020 The mortgage delinquency rate saw the largest monthly increase ever reported in April as U.S. unemployment spiked to 14.7%, more than tripling from March. Thanks a ton, COVID-19. A report from Black Knight showed about 3.6 million homeowners were past due on their mortgage…

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Is FHFA’s COVID-19 Relief for Mortgage Servicers Enough?

Newsletter - May 2020 The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress in March requires mortgage servicers to offer forbearance to homeowners who experienced a loss of income due to the COVID-19 pandemic. Almost 6% of all mortgages in the United States were in forbearance as of early…

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Coronavirus – What We’re Doing About It

Newsletter - April 2020 As we’re all being bombarded with news about COVID-19, I felt that you didn’t really need another article about how it will affect our industry – haven’t you seen enough for a while, anyway? So, I just want to take this opportunity to remind you that…

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