Housing Wire

APRIL 30, 2024

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.

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Housing Wire

OCTOBER 25, 2023

A brewing crisis is emerging around homeowners insurance and thus far the finance and insurance community has not offered any viable solutions. Homeowners in affected markets have experienced increases in premiums that threaten their financial soundness or are finding cancellation notices in their mailboxes.

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Housing Wire

MARCH 4, 2024

The mayor of Miami-Dade County wants to leverage the bond market to create a fund that will finance affordable housing projects, according to a Bloomberg report published Monday. Over the past five years, home prices in the Miami area have surged by 82%, according to data from the Federal Housing Finance Agency ( FHFA ).

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Housing Wire

APRIL 29, 2024

Rising mortgage rates and a slower housing market than anticipated contributed to the weaker financial performance of the title segments of some of the nation’s largest title firms during the first quarter of 2024. Market conditions in the real estate and mortgage industries continued to be a challenge in the seasonally weak first quarter.

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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

MARCH 25, 2021

Private mortgage insurance helped over 2 million low downpayment borrowers secure mortgage financing in 2020, a 53% increase from 2019, according to data from the government sponsored entities. The private mortgage insurance industry also supported $600 billion in mortgage originations. Mortgage Insurers.

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Housing Wire

NOVEMBER 2, 2023

New York-based digital lender Better Home & Finance Holding Company launched Better Insurance to allow customers to shop for homeowners insurance through a fully digital platform. Better Insurance is fully autonomous. The goal for Better Insurance is to offer the service to all 50 states by 2024.

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Housing Wire

OCTOBER 6, 2023

New American Funding ’s partnership with Matic Insurance and OneSource Solution will provide insurance and home setup services for existing and new customers while NAF is processing the loan. Mortgage customers can bundle food, wind, auto, pet, life and other personal lines of insurance through NAF Insurance, which is powered by Matic.

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Housing Wire

DECEMBER 12, 2023

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.

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Housing Wire

OCTOBER 11, 2023

As Megan Hernandez, ALTA’s director of marketing and public relations put it, “he was due for a glow up.” “We Under the waiver program, the government sponsored entity (GSE) would bypass traditional title insurance by granting certain mortgage lenders a waiver on title insurance requirements for loans sold to Fannie.

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Housing Wire

JANUARY 3, 2024

The rising cost of homeowners insurance is weighing more heavily on American homeowners and buyers, according to a survey published Wednesday by Mphasis Digital Risk , a technology services company serving the residential real estate lending industry. average, according to estimates from the Insurance Information Institute.

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Housing Wire

SEPTEMBER 26, 2023

The state’s top insurance regulator announced last Thursday that new rules are in the works to persuade insurers to remain in the state. In announcing their departure from the Golden State, the two major insurers cited the increased wildfire risks in the state and rising construction costs.

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Housing Wire

MAY 16, 2024

UWM’s TRAC+ announcement comes as the federal government pushes title insurance alternatives designed to save consumers money. Department of Veteran Affairs (V.A.) loans but only for refinances. 0% down During UWM Live! It will receive media exposure across the leagues’ platforms.

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Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. First-time homebuyers are the driving force of the housing market and typically utilize low down payment mortgages to achieve homeownership. Today, roughly $1.5

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Housing Wire

FEBRUARY 28, 2024

Rocket Companies will soon shut down Rocket Pro Originate , a mortgage origination platform for real estate agents, insurance agents, tax professionals and other financial professionals who are also licensed to originate mortgages. The lender is also providing a discount on data intelligence software Mobility Market Intelligence.

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Housing Wire

MARCH 9, 2023

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.

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Housing Wire

SEPTEMBER 19, 2023

billion in title insurance premiums, down from $6.21 billion from a year ago, according to the American Land Title Association’s Market Share Analysis , released Monday. Top underwriters for the quarter by market share included First American Title insurance Co. with 22.3%; Old Republic National Title Insurance Co.

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Housing Wire

DECEMBER 26, 2022

With the housing market slowing down from its pandemic-fueled frenzy, wire fraud threats, regulatory challenges and the perennial challenge of an aging workforce, the title insurance industry will have a lot to juggle in the new year. It was too darn hot: the housing market slows down. What happened to the market?’”.

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Housing Wire

APRIL 11, 2022

In a selling guide announcement released last week, Fannie Mae announced that it would be accepting written opinion letters from an attorney in lieu of a title insurance policy “in limited circumstances.”. If a lender receives an AOL in lieu of a title insurance policy, the lender must report Special Feature Code 155 when delivering the loan.

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Housing Wire

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And The home equity investment is a new concept for many homeowners and is still small compared to the size of the traditional mortgage market.

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Finance Investing Real Estate Agent Real Estate 370

Housing Wire

AUGUST 17, 2023

The Department of Housing and Urban Development (HUD) has instituted a 90-day moratorium on foreclosures of mortgages insured by the Federal Housing Administration (FHA), as well as a pause on foreclosures of mortgages in the Indian Home Loan Guarantee program. A wide array of U.S. You’ve already seen that in California.”

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Housing Wire

SEPTEMBER 7, 2023

Senate Committee on Banking, Housing and Urban Affairs to address the availability of flood insurance. In the letter, MBA SVP of Legislative and Political Affairs Bill Kilmer pointed to the impending expiration of the National Flood Insurance Program (NFIP), which is currently slated to happen on September 30.

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Housing Wire

APRIL 13, 2023

The Federal Housing Administration (FHA) published a new draft version of a Mortgagee Letter (ML) on Thursday that would update the mortgage insurance requirements on single-family homes with accessory dwelling units (ADU).

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Finance Property Taxes Insurance Construction 363

Housing Wire

MARCH 4, 2022

Fannie Mae this week completed its first credit insurance risk transfer (CIRT) deal of the year as part of the agency’s ongoing efforts to share mortgage risk with the private sector. . The deal transferred millions of dollars of credit risk to a group of 22 private insurers and reinsurers. That credit risk is tied to a $26.1

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Housing Wire

NOVEMBER 21, 2022

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.

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Housing Wire

SEPTEMBER 20, 2021

Radian Group recently announced the launching of its title insurance and closing services platform, titlegenius, in Arizona, California, Nevada, Ohio and Pennsylvania. This is a strategic move as some of the hottest housing markets in the country are currently located in Nevada, California and Arizona. Presented by: FundingShield.

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Insurance Brokerage Real Estate Technology 288

Housing Wire

OCTOBER 13, 2022

Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for.

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Insurance Legal Legal Fees HOA 291

Housing Wire

AUGUST 16, 2023

A week after announcing a pivot in its business strategy , publicly traded title insurance firm Doma announced the sale of its retail operations in Florida on Tuesday. Doma’s Florida operation was purchased by Near North Title Group for an undisclosed sum. Near North Title Group purchased Doma’s Midwest locations in July.

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Appraisal Buzz

MAY 6, 2024

Does the cost of homeowners insurance affect the price of a home? In some markets, the answer is increasingly yes. In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters.

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HOA Insurance Legal Fees Valuation 370

Housing Wire

MAY 13, 2021

Genworth Financial said it will delay the initial public offering of its recently rebranded mortgage insurance arm, Enact Holdings. Tom McInerny, the president and CEO of Genworth, said that recent market volatility led the company to put off the IPO. housing market and expected tailwinds as the economy recovers from COVID-19.”

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Housing Wire

NOVEMBER 7, 2023

The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market. Nor would banks be able to improve their economics by distributing their mortgages into the mortgage-backed securities market.

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Housing Wire

APRIL 10, 2024

The Consumer Financial Protection Bureau is considering a ban on mortgage banks charging homebuyers for the lender’s title insurance policy , according to a report by Bloomberg. According to the publication, the CFPB will release a request for information on closing costs, including title insurance and other fees, as soon as late April.

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Housing Wire

MARCH 30, 2021

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.

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Insurance Mortgage Valuation Design 293

Housing Wire

APRIL 13, 2021

Title insurers wrote $19.2 ALTA officials “do not expect the same level of refinance activity” this year, even though the residential purchase market appears to be holding steady as the calendar approaches May, according to Diane Tomb, ALTA chief executive. Just how fruitful was 2020 for title insurers?

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Insurance Inventory Marketing Mortgage 367

Housing Wire

MARCH 11, 2021

Finance of America Reverse will soon debut a hybrid product that combines elements of a reverse mortgage with a forward mortgage. The new product, called EquityAvail, funds at closing and requires that the borrower make payments for 10 years but at a reduced amount, Finance of America Reverse said this week.

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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? Just look at HUD’s own data on FHA lending: 1.

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Insurance Mortgage Bracketing Government 384

Housing Wire

MARCH 8, 2024

For now, we can say the labor market isn’t tight anymore, but it’s also not breaking. From the Fed: In the week ended March 2, initial claims for unemployment insurance benefits were flat, at 217,000. At the time this would be a speedy labor market recovery, and it happened on schedule, too Total employment data 4.

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