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NAR runs out of liability insurance coverage: Sources

Housing Wire

Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. NAR’s insurance policy is tapped out, and there are no funds available for REALTOR Associations and MLSs for legal defense costs,” Hahn wrote.

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As insurers flee disaster-prone areas, homeowners turn to ‘last resort’ insurers

Housing Wire

As major home insurance carriers are increasingly pulling back their coverage options in disaster-prone areas, hundreds of thousands of people are moving to state-sponsored “last resort” insurance plans originally designed to offer a temporary fix. The plans were designed to be temporary safety nets,” the Journal report reads.

Insurance 433
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Insurance Office of America’s SimplyIOA Platform Designed for Mortgage Industry

Appraisal Buzz

Insurance Office of America (IOA) is integrating SimplyIOA, an insurtech company with a fully integrated digital platform for comparing, quoting and purchasing homeowners insurance online quickly. SimplyIOA is designed for seamless integration into point-of-sale systems, loan origination servicing and self-servicing platforms.

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Homeowners are getting worried about flood insurance costs

Housing Wire

Homeowners are increasingly concerned with flood insurance premium hikes impacting affordability, Fannie Mae ‘s latest national flood survey showed. The latest survey is an expansion from its 2020 version and compared how homeowners’ and renters’ awareness and attitudes towards flood risk and flood insurance changed over the years.

Insurance 414
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HUD to allow borrowers of FHA mortgages to obtain private flood insurance

Housing Wire

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. . billion, did not have the required NFIP coverage.

Insurance 370
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Radian expands its online title insurance platform

Housing Wire

Radian Group recently announced the launching of its title insurance and closing services platform, titlegenius, in Arizona, California, Nevada, Ohio and Pennsylvania. The mortgage insurance and real estate services company first introduced titlegenius in Florida this past May. Presented by: FundingShield.

Insurance 381
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Fudge won’t cut mortgage insurance premiums

Housing Wire

Housing and Urban Development Secretary Marcia Fudge put an end to speculation that the agency would move to reduce the Federal Housing Authority ‘s mortgage insurance premiums by 25 basis points. During her nomination , Fudge was noncommittal about potential cuts to the mortgage insurance. Mortgage Tech Demo Day.

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