Click the link below to access the form. ALTA Outgoing Wire Preparation Checklist v.2.0 08-19-2019 (1)
Just three days ago, data from Black Knight showed that 8.2 million borrowers could save big on their mortgages thanks to the recent decline in mortgage interest rates, but rates have continued to fall all week. Now, the number of borrowers that could benefit from a refinance has jumped to nearly 10 million.
The latest mortgage interest rate data from Freddie Mac, which was released Thursday morning, shows that mortgage rates fell this week to a three-year low of 3.6%. Just one week ago, rates sat at 3.75%.
Wire fraud is one of the fastest growing cybercrimes in the country. According to the Federal Trade Commission, consumers reported losing $1.48 billion to fraud in 2018; that’s an increase of 38% over 2017. Wire fraud is any event where an individual is tricked into sending money via wire transfer to a fraudster. Wire fraud includes imposter scams, debt collection schemes and identity theft.
In the last several years, an increasing number of borrowers with loans backed by the Federal Housing Administration have been refinancing their mortgages to extract cash – a trend some have called concerning and risky.
Now, the Department of Housing and Urban Development is taking steps to curb the prevalence of cash-out refinances, announcing Thursday that it’s lowering loan-to-value requirements on cash-outs from 85% to 80%.
The Federal Reserve lowered its benchmark rate by a quarter point Wednesday as an insurance policy not against what’s wrong with the economy now, but what could go wrong in the future. It was the first rate cut by the central bank in more than a decade.
Realogy Holdings Corp. and Amazon have partnered on a homebuying program designed to simplify the process of purchasing a home and then settling into it, the companies announced.