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[+] Anyone Heard of Outamation Title - Bryce L/UT (3 replies)
5/2/2024 1:45:02 PM (601 views)

[+] Copies - matthew clark/AL (6 replies)
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[+] TITLE TECHNIQ - Michael Rosing/IL (6 replies)
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[+] Does AI need a license to operate in title services? - Randi Erickson/MN (2 replies)
4/25/2024 1:00:31 PM (1040 views)

[+] Platoon Title Services - Jill Kissell/IA (13 replies)
4/23/2024 11:12:52 AM (835 views)

Real Title Services

new report for all-cash transactions proposed - Denise. Williams./MO
4/18/2024 9:09:11 AM (612 views)

newsworthy posts... check these out...CFPB - lumping Title insurance - a "junk fee"... - Denise. Williams./MO
4/14/2024 10:13:55 AM (478 views)

4/11/2024 1:07:46 PM (406 views)

[+] E-titles website gone - Kurt deVries/FL (3 replies)
4/5/2024 2:05:23 PM (852 views)

[+] text messages instead of email? - Ben Wilczynski/PA (3 replies)
3/26/2024 4:20:59 PM (871 views)

[-] Whitehouse fact sheet re: lender's title insurance policy - Patty  Baber/FL (1 reply)
3/14/2024 8:53:31 AM (942 views)

The President isn’t waiting for Congress to lower costs for homebuyers and homeowners. Last year, the Department of Housing and Urban Development (HUD) reduced the mortgage insurance premium for Federal Housing Administration (FHA) mortgages, saving an estimated 850,000 homebuyers and homeowners an estimated $800 per year. And today, the President is announcing new actions to lower the closing costs associated with buying a home or refinancing a mortgage.

  • Lowering Closing Costs for Refinancing. The Federal Housing Finance Agency has approved policies and pilots to reduce closing costs for homeowners, including a pilot to waive the requirement for lender’s title insurance on certain refinances. This would save thousands of homeowners up to $1500, and an average of $750, and the lower upfront fees will unlock substantial savings for homeowners as mortgage rates continue to fall and more homeowners are able to refinance. According to independent analysis, across the market title insurance typically pays out only 3% to 5% of premiums in claims to consumers, compared to more than 70% in other types of insurance. Homeowners can still purchase their own title insurance policies if they choose to do so.
  • Lowering Closing Costs for Home Mortgages. The Consumer Financial Protection Bureau will pursue rulemaking and guidance to address anticompetitive closing costs imposed by lenders on homebuyers and homeowners. These charges—which benefit the lender but not the borrower—can add thousands to the upfront costs of a mortgage. Those upfront costs cut into the amount of homebuyers’ down payments and reduce homeowners’ available equity.

In the coming months, the Department of Treasury’s Federal Insurance Office will convene a roundtable of relevant industry stakeholders, including consumer advocates and academics, in order to discuss the title insurance industry and analyze potential reforms. Building on today’s announcements, President Biden is calling on federal agencies to take all available actions to lower costs for consumers at the closing table and help more Americans access homeownership.

Source: https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/ 

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Re: Whitehouse fact sheet re: lender's title insurance policy - Garret  Fitzgerald/VA
3/18/2024 6:03:23 PM (585 views)

[+] NALTEA Response to State of the Union - Heather St Amant/LA (14 replies)
3/8/2024 2:56:36 PM (1217 views)

[+] State of the Union speech - Kurt deVries/FL (7 replies)
3/8/2024 1:49:09 AM (1177 views)

[+] News: Jackson Munsey killed on 3/2/24 - Christy  Lovelace/NC (1 reply)
3/4/2024 10:51:24 AM (1474 views)

[+] lifeline - Ricky Gill/MS (4 replies)
3/3/2024 7:56:30 AM (993 views)

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