Housing Wire

JULY 25, 2023

In late June, Susan Gregory received an estimate for a new homeowner’s insurance policy on her 120-year-old St. Augustine, Florida property, after her previous insurer, United Property and Casualty, went insolvent earlier in the year. This is one of the easiest parts of Florida to insure and costs have gone up over 40%.”

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Housing Wire

AUGUST 23, 2022

According to SingleSource, under the authority of the supreme court of the state where the property is located, attorneys who issue an ACT will be protected by a comprehensive liability wrapper – enabling SingleSource to provide comparable coverage as a title insurance policy at a much lower cost to the consumer.

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Insurance Legal Mortgage Marketing 345

Housing Wire

JANUARY 18, 2021

During her second acquisition in 2008, the story was much different. The post The title insurance arms race heats up appeared first on HousingWire. The market was growing; it was exciting; companies were fighting to increase market share; hope for the future was high.

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Housing Wire

NOVEMBER 4, 2022

There has been a flurry of recent articles prognosticating a decrease to Federal Housing Administration (FHA) insurance premiums. At least 137,000 of those borrowers have FHA-insured loans. FHA’s Mutual Mortgage Insurance Fund (MMI Fund) is there to be the primary buffer against these inevitable shifts in housing and the economy.

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Housing Wire

NOVEMBER 17, 2021

Simply put, it looks at all the insured loans in the single-family business and factors in expected interest rates, home price forecast, default rates and severity rates over the entire duration of these loans, some of which will be on the books for 30 years. What is the capital reserve ratio? But two things are clear.

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Housing Wire

MAY 24, 2024

Founded in 2008 and based in Fort Mill, South Carolina , Movement Mortgage offers a range of products including conventional, jumbo and government-insured loans, as well as a dedicated reverse mortgage division. The lender also provides rate-and-term and cash-out refinancing, along with construction and renovation loans.

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Housing Wire

APRIL 12, 2024

But more broadly, since the Great Recession in 2008, there has been a greater implementation of standardized loss-mitigation measures designed to prevent a foreclosure crisis. Aside from taxes, property insurance costs have also risen, and coverage may even be difficult to find in some areas. foreclosure rate at 0.3%

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Property Taxes Insurance Mortgage Home Value 343

Housing Wire

NOVEMBER 27, 2023

Investors featured leading Israeli institutional investors, such as Migdal Insurance , Psagot Investment House , More Investment House , and Shavit Capital. Veev was founded in California, in 2008 by Amit Heller, Ami Avrahami, and Dafna Akiva. In March 2021, it raised $100 million through the Tel Aviv Stock Exchange’s TASE UP platform.

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Inspection Investors Investing Insurance 419

Housing Wire

JULY 21, 2023

Under the FHA Modernization Act of 2008 , sellers, lenders and others with a financial interest in a real estate transaction are prohibited from providing DPA to FHA borrowers. If this change were made, the FHA program would join the other government-insured programs offered by the U.S. Bush administration in 2004. “If

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Housing Wire

NOVEMBER 13, 2023

In recent years, the value proposition of title insurance has come under attack following Fannie Mae’s announcement that it would accept attorney opinion letters in lieu of title insurance, as well as Fannie Mae and Freddie Mac’s title waiver programs , which were eventually scrapped. “If

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Insurance Real Estate Agents Real Estate Agent 379

Housing Wire

MAY 13, 2024

In 2022, they originated nearly two-thirds of mortgages, compared to 38% in 2008. Meanwhile, they owned servicing rights on 54% of mortgage balances in 2022, up from 4% in 2008. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

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Finance Government Mortgage Legal 394

Housing Wire

MARCH 27, 2023

Shortcuts to well-established processes do not end well — as the 2008 financial crisis demonstrated. The title insurance industry continued to pay out claims, many fraud-related, despite a severe recession. According to Politico , Fannie Mae would waive title insurance requirements for certain transactions under the pilot program.

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Insurance Government Home Value Real Estate 270

Housing Wire

JULY 27, 2021

Unlike lenders or servicers for Fannie Mae and Freddie Mac , Ginnie Mae issuers are responsible for passing along payments to investors after borrower equity, federal agency and mortgage insurance resources are exhausted. If those issuers fail, Ginnie Mae is ultimately responsible for making those investor payments.

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Insurance Finance Government Mortgage 423

Housing Wire

MAY 1, 2023

The Federal Deposit Insurance Corporation (FDIC) and JP Morgan are also entering into a loss-share transaction on single family, residential and commercial loans it purchased from the former First Republic Bank. The FDIC estimated that its insurance fund would have to pay out about $13 billion to cover First Republic’s losses.

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Insurance Finance Government Mortgage 305

Housing Wire

OCTOBER 4, 2022

Even with a sharp rise in interest rates toward the end of the second quarter, the title insurance industry still recorded a relatively strong fiscal quarter, according to the American Land Title Association’s Market Share Analysis. billion in title insurance premium volume, only slightly down from the $6.54

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Marketing Insurance Real Estate Housing Market 372

Housing Wire

APRIL 25, 2024

This program provides counseling to all applicants of the federally insured reverse mortgage program, the Home Equity Conversion Mortgage program,” the report stated. Bush in 2008, established the Financial Literacy and Education Commission. The Financial Literacy and Education Improvement Act, signed into law by President George W.

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Mortgage Government Law Design 298

Housing Wire

JUNE 30, 2023

million to settle allegations that it improperly originated and underwrote mortgages insured by the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) programs. Therefore, lenders must follow FHA and VA rules to ensure only loans that meet credit and underwriting criteria are insured or guaranteed by the government.

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Government Insurance Mortgage Legal 366

Housing Wire

MARCH 10, 2023

The report also points out how IMB critics bootstrap legitimate concerns about largely unregulated nonbank financial products like crypto or payday lending to claim similar risks for IMBs, even though mortgages are more extensively regulated than any other financial product in the wake of the 2008 crisis. Another 2008? Harmless myths?

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Mortgage Business Insurance Marketing 326

Housing Wire

MAY 20, 2024

Cave spent nearly three decades in executive roles at the Federal Deposit Insurance Corp. The FSOC report states that nonbank servicers increased their market share from 4% in 2008 to 54% in 2022. FDIC), including as a representative on the deputies committee of the FSOC, where he helped to build its nonbank designation program.

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Government Finance Design Insurance 332

Housing Wire

MARCH 15, 2023

The Company still maintains fully insured custodial deposit accounts at Signature,” the document says. “We It is now controlled by the Federal Deposit Insurance Corporation (FDIC). Signature’s closure followed Silicon Valley Bank ’s collapse on Friday, the biggest bank failure since Washington Mutual in 2008.

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Insurance Investors Real Estate Mortgage 312

Appraisal Buzz

DECEMBER 1, 2021

Due to the drastic increase in real estate prices over the last year, the Federal Housing Administration (FHA) has announced new loan limits for 2022 for its Single Family Title II forward and Home Equity Conversion Mortgage insurance programs.

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Insurance Real Estate Appraisal Mortgage 195

Housing Wire

JANUARY 20, 2023

Big Four title insurer Old Republic is on the lookout for a new CEO after Mark Bilbrey announced on Thursday that he would be retiring at the end of January. Bilbrey joined Old Republic in 2007, was appointed executive vice president in 2008 and named president of Old Republic National Title Holding Co.

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Insurance Investors Marketing 306

Housing Wire

JUNE 20, 2023

Prior to joining Truist, Smith led the mortgage lending, insurance and title businesses affiliated with Keller Williams. Before that, Smith was the president and chief executive officer of CitiMortgage, a subsidiary of Citibank , where he navigated the financial downturn of 2008. according to the IMF data.

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Business Mortgage Retail Lending 321

Housing Wire

FEBRUARY 10, 2023

The private New York-based company, founded in 2008, manages third-party capital on behalf of insurance companies, pension funds, hedge funds and other investors. SPS , owned by Credit Suisse , acquired certain assets and servicing personnel from Rushmore in September. residential markets over the last decade.

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Investing Investors Insurance Government 364

Housing Wire

AUGUST 1, 2023

The private New York-based company, founded in 2008, manages third-party capital on behalf of insurance companies, pension funds, hedge funds and other investors. “We The expectation was that the deal would close in the second half of 2023. The deal was announced in February.

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Investors Design Insurance Investing 369

Housing Wire

AUGUST 22, 2023

The housing market continues to cool amid high mortgage rates , low inventory and rising property insurance rates. bond yields hit their highest level since 2008. The National Association of Realtors (NAR) suggested a 2.2% month-over-month drop from June, a seasonally adjusted annual rate of 4.07 from one year ago to $406,700.

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Buyers Inventory Realtors Housing Market 289

Housing Wire

MARCH 11, 2024

Fudge listed a series of actions during her tenure she sees as accomplishments, including “helping two million families” either stay in their homes or avoid foreclosure; adding positive rental history to criteria for creditworthiness; and reducing the mortgage insurance premium. “I She served as chief of staff for former Rep.

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Law Development Finance Insurance 462

Housing Wire

JANUARY 2, 2024

In August 2023, the Federal Deposit Insurance Corporation (FDIC) filed a lawsuit against RealFi for contractual indemnity — which obligates one party to pay the damages or losses sustained by another party due to certain future occurrences. The FDIC was the receiver of Washington Mutual Bank after it failed during the 2008 financial crisis.

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Loan Officers Lending Mortgage Insurance 398

Housing Wire

AUGUST 19, 2022

Since the 2008 financial crisis, a significant structural change has taken place which over time threatens the long-term stability of housing finance. To be fair, this level of regulatory oversight was needed due to the criticality of banks to the financial system and potential exposure FDIC has by way of federal deposit insurance.

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Finance Insurance Mortgage Business 320

Housing Wire

MAY 5, 2021

Genworth Holdings announced an initial public offering for its mortgage insurance arm, Genworth Mortgage Holdings, after a long-delayed $2.7 In 2008, Blackstone Group acquired a 46% stake in Bayview, which now has $14.9 The company also said it settled existing litigation with AXA , the french insurance firm, in July 2020.

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Insurance Investing Real Estate Finance 258

Housing Wire

APRIL 6, 2023

The Federal Deposit Insurance Corporation (FDIC) has decided, in a “gradual and orderly” move, to sell a portfolio of $114 billion in mortgage-backed securities (MBS) it retained after seizing control of failed regional banks Signature Bank and Silicon Valley Bank (SVB).

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Insurance Investing Brokerage Mortgage 287

Housing Wire

FEBRUARY 14, 2024

Since the Federal Deposit Insurance Corporation (FDIC) insures only up $250,000, the banks’ wealthier customers panicked and demanded all of their money immediately. When interest rates shot up, their customers needed cash at the same time that the banks’ assets became less valuable.

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Mortgage Real Estate Insurance Tenants 369

Housing Wire

NOVEMBER 18, 2022

savings and loan associations, savings banks, and cooperative banks) and insurance companies. It was not until 1989 that Congress expanded membership to all federally insured depository institutions. Thus, if there is a conflict between the super lien and state insurance law, it is unclear which statutory system would prevail.

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Legal Law Insurance Finance 287

Housing Wire

NOVEMBER 28, 2022

The concern about nonbanks began following the Great Recession of 2008 and became exacerbated in the Obama administration as policymakers saw the rapid rise in market domination of the IMB (independent mortgage banker) and the similar de-emphasis of lending from the banking sector, especially in the Ginnie Mae programs.

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Lending Mortgage Insurance Investors 317

Housing Wire

MARCH 13, 2023

Following the collapse of Silicon Valley Bank last week, the biggest bank failure since Washington Mutual in 2008, two other American banks with significant roles in the housing industry were hit by a deposit run. Signature Bank closed its doors on Sunday, the same day First Republic Bank announced fresh access to capital to fund operations.

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Mortgage Marketing Insurance Real Estate 345

Housing Wire

JANUARY 18, 2021

In December, AmTrust Title Insurance Company announced the hiring of seasoned underwriter Mary Shelley as its midwest region agency underwriter. ” Shelley worked as escrow office and examiner for National Commercial Services at Stewart Title for five years, and at Precision Title from 2008 to 2015 as senior title officer.

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Mortgage Real Estate Agent Insurance Appraisal 504

Housing Wire

APRIL 5, 2021

In its most recent annual report to Congress, November 2020, the Federal Housing Administration ( FHA ) published its “capital ratio,” a measure of capital reserves to insurance-in-force held within the Mutual Mortgage Insurance Fund (MMI Fund). The same report revealed FHA had amassed capital reserves in the amount of $78.9

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Insurance Mortgage Housing Market Government 227