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Opinion: Title insurance matters. Here’s why.

Housing Wire

Last month, the Biden Administration announced the revival of a previously abandoned pilot program that would waive the requirement for lender’s title insurance on certain home refinances – part of a misdirected effort to address housing affordability. Title insurance is significantly different from other lines of insurance.

Insurance 349
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Opinion: How to avert an impending homeowners insurance crisis

Housing Wire

A brewing crisis is emerging around homeowners insurance and thus far the finance and insurance community has not offered any viable solutions. An overhaul of the homeowners insurance market is in order to prevent an impending catastrophe in the mortgage market. And that’s where policies are available.

Insurance 363
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Movement Mortgage names Joe Thompson as regional director

Housing Wire

Movement Mortgage , a multichannel mortgage lender, has appointed Joe Thompson as its new regional director. 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.

Mortgage 344
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Opinion: FHA should lower Mortgage Insurance Premium

Housing Wire

Written by an independent third-party auditing firm, the study produces a net present value of the total FHA forward and reverse mortgage portfolios. During the Great Recession of 2008, the forecast actually went negative, resulting in a mandated draw from Treasury to meet the minimum 2% capital reserve ratio requirement.

Insurance 390
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Fannie Mae rumored to be looking at forgoing title insurance

Housing Wire

The title insurance industry is often bemoaned for being antiquated and making minimal changes, but that has not been the case for the past 12 months. The program would grant certain mortgage lenders a waiver on title insurance requirements for loans sold to Fannie Mae and will be rolled out this spring, according to Politico.

Insurance 393
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SingleSource the latest to offer alternative product to title insurance

Housing Wire

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.

Insurance 358
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Insurance carrier exodus rattles California and Florida housing markets

Housing Wire

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%.”

Insurance 352