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Mortgage lending could be halted by flood insurance program’s expiration, experts warn

Housing Wire

Five days remain in the currently authorized National Flood Insurance Program (NFIP). If it is not reauthorized by Congress before that date, the mortgage industry could see consequences, including ceding control of certain land use policies and the cessation of some mortgage lending. The borrowing authority of NFIP from the U.S.

Insurance 424
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Ginnie Mae digs in on 250% MSR risk weight for nonbanks

Housing Wire

Ginnie Mae, a government corporation under the auspices of the Department of Housing and Urban Development , guarantees securities backed by pools of mortgages insured by FHA, as well as the Department of Veterans Affairs and the Department of Agriculture. Those securities are backed by the full faith and credit of the U.S. government.

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WFG reduces time and cost in real estate transactions

Housing Wire

WFG National Title Insurance Company (WFG) is a wholly owned subsidiary of Williston Financial Group and a national title insurance underwriter dedicated to taking time and cost out of real estate transactions. DecisionPoint offers immediate title clearance for about a third of U.S. properties. ” Patrick F.

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WFG reports its highest volume months ever during Q2 and Q3 of 2020

Housing Wire

Patrick Stone was looking both ways when he took steps to launch Williston Fina ncial Group (WFG) in January 2010. “The market remains underserved in the sense that the mortgage lending market has changed so quickly that everyone is still trying to keep up,” Stone said.

Insurance 367
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WFG’s MyHome solution brings borrowers on board early on in the real estate process, improving their experience

Housing Wire

Since its founding in 2010, WFG National Title Insurance Company has worked to advance the real estate, mortgage lending and title industries, adding greater efficiency and accuracy to processes and a vastly improved experience for consumers.

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DOJ files complaint against lender for alleged use of unqualified underwriters and forgery

Housing Wire

The complaint announced on Friday alleges that in order to significantly increase its loan production, Nutter used unqualified underwriters lacking the requirements established by HUD to review and approve HECMs that Nutter ultimately insured with the FHA. When reached for comment, Edward T.

Legal 289
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How the Basel Endgame could impact the mortgage market 

Housing Wire

agencies decided to review banks’ capital framework in response to the financial crisis, consistent with the standards issued by the Basel Committee on Banking Supervision in 2010 (Basel III). Mills particularly worries about the impacts on the MSR market and warehouse lending. To understand the context, U.S.

Mortgage 317