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ClosingCorp Reports Average Closing Cost Data for Purchase Mortgages in 2020


Press release content from Business Wire. The AP news staff was not involved in its creation.
ClosingCorp Reports Average Closing Cost Data for Purchase Mortgages in 2020
March 11, 2021 GMT
SAN DIEGO (BUSINESS WIRE) Mar 11, 2021
ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today released its most recent closing cost data, which showed that in 2020 national average closing costs for a single-family property were $6,087 including taxes, and $3,470 excluding taxes. These were 5.9 percent and 3.9 percent year-over-year increases, respectively.
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ClosingCorp cost calculations include lender’s title policy, owner’s title policy, appraisal, settlement, recording fees, land surveys and transfer tax. ClosingCorp uses home price data from CoreLogic to estimate closing costs for an average home at the state, core-based statistical area (CBSA) and count ....

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Flagstar Bancorp Reports Fourth Quarter 2020 Net Income of $154 million, or $2.83 Per Diluted Share


Key Highlights - Fourth Quarter 2020
Net interest income grew by $9 million with lower deposit costs and higher warehouse balances.
Mortgage revenue was $232 million as fallout adjusted lock volume and gain on sale margins stayed strong.
Asset quality remained solid with low levels of nonperforming loans and an industry-leading coverage ratio.
Tangible book value per share reached $38.80 at year-end, representing a 36 percent increase for 2020.
Flagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, today reported fourth quarter 2020 net income of $154 million, or $2.83 per diluted share, compared to third quarter 2020 net income of $222 million, or $3.88 per diluted share and fourth quarter 2019 net income of $58 million, or $1.00 per diluted share. ....

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