Housing Wire

SEPTEMBER 20, 2023

The same home insurance scenario being played out in states like Florida and California due to elevated risk of natural disasters is becoming more pronounced in the Pacific Northwest according to a new report from the Seattle Times. No violation found.”

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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. Like its peers, Movement has the authority to originate and underwrite loans without first having the government review them.

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Inman

MARCH 22, 2024

trillion funding bill passed by the House Friday averts a partial government shutdown and extends a critical insurance program that protects 4.7 million homes through the end of September.

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Housing Wire

SEPTEMBER 15, 2023

government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year.

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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

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 24, 2022

The Federal Housing Administration insured thousands of mortgages in 2020 without the mandatory flood insurance coverage. According to the watchdog, at least 31,500 FHA-insured loans insured did not have the required National Flood Insurance Program coverage. The potential loss on these loans could amount to $1.5

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Housing Wire

JUNE 21, 2022

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives. Why is a title search necessary for refinancing?

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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

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. We haven’t seen any real data based on the conversation that it is going to save money.

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Housing Wire

APRIL 14, 2022

Fannie Mae generated some buzz last week when it announced it would be accepting written attorney opinion letters in lieu of a title insurance policy “in limited circumstances.”. Title insurance came to be because attorney title opinions were not adequate for the marketplace.

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Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

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Real Estate News

FEBRUARY 22, 2023

The government announced a plan to cut mortgage insurance rates by 0.3 percentage points, which could save eligible homeowners an average of $800 a year.

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Housing Wire

MARCH 5, 2024

The Treasury Department will continue to advocate for state and local governments to use these funds to support affordable housing, but it will also seek to “give these jurisdictions the flexibility needed to meet their most pressing housing needs,” he explained.

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Housing Wire

MARCH 8, 2024

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings.

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Housing Wire

MARCH 1, 2024

For example, recently, Fannie Mae has focused on expanding alternatives to title insurance as a way to supposedly increase homeownership affordability. However, Fannie Mae’s own research from 2022 found that title insurance is not a significant component of the overall closing costs when buying a home.

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Housing Wire

FEBRUARY 26, 2024

The cost of homeowners insurance has surged in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. And homeowners insurance costs are three times higher in Florida than the national average.

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HOA Law Insurance New Listings 485

Eppraisal

JULY 7, 2023

In this final installment of our three-part series, we will explore government-insured mortgage loans. These loans, backed by government agencies, offer certain benefits and opportunities for homebuyers who meet specific criteria. What are Government-Insured Mortgage Loans?

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Housing Wire

APRIL 18, 2024

It is configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point The government-sponsored enterprise Freddie Mac approved Truv as a lender tool for payroll verifications and consumer-permissioned income data in December 2023.

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Housing Wire

NOVEMBER 8, 2023

The National Association of Realtors (NAR) on Wednesday unveiled its state flood disclosure tracker tool , aiming to offer clarity and access to survey existing state disclosure requirements for flood insurance. A lapse in NFIP will take place if the government enters a shutdown, which will take place on Nov. 17 unless Congress acts.

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Housing Wire

DECEMBER 14, 2023

In an update to its selling guide , Fannie Mae announced Wednesday that it was expanding the use of attorney opinion letters in lieu of title insurance. Fannie Mae first announced that it would accept loans secured with an AOL in lieu of title insurance in limited circumstance in April 2022.

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Housing Wire

DECEMBER 6, 2023

In the letter addressed to FHFA Director Sandra Thompson , the CHLA says that it supports the use of AOLs in lieu of title insurance , “in conjunction with Enterprise mortgage loans, subject to reasonable standards.” We are not asking [to] supplant title insurance, we are asking to try to create this as an option.”

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Insurance Finance Government Mortgage 410

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB).

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Housing Wire

JANUARY 18, 2024

“Because that was one of the things I mentioned in my paper: one thing that’s urgently needed is to have this liquidity facility so that lenders — when they buy loans out of pools at ninety-eight percent — they can actually turn around and use them as collateral, again, for a government-guaranteed security.” That’s all it says.”

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Housing Wire

APRIL 25, 2024

Older adults and people with disabilities are often prone to financial distress, and they may require more resources to better understand their circumstances and options, according to a new report from the Government Accountability Office (GAO). Among a series of 24 examples of federal financial literacy programs for these groups, the U.S.

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Housing Wire

APRIL 14, 2023

Nearly 12 months have passed since Fannie Mae first announced it would in limited circumstances be accepting attorney opinion letters in lieu of title insurance. We will continue to share our concerns about Fannie Mae moving beyond its mission and into the business of title insurance.

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Urban

JUNE 16, 2021

Data show that flat-out rejection of buyers seeking government-backed loans disadvantages households with lower incomes, lower credit scores, and less wealth, many of whom are people of color.

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Housing Wire

NOVEMBER 30, 2023

Fidelity initially notified the public two days after the attack, revealing the firm experienced disruptions to title insurance, escrow and other title-related services, as well as mortgage transactions and technology for the real estate and mortgage industries.

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Housing Wire

OCTOBER 18, 2023

. “We’re hoping to have a final policy [for the payment supplement partial claim] out before the end of the year, although I will say keep your fingers crossed that we don’t face any lapse in appropriations that would shut down the government.” 14-17 in Philadelphia. ”

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Housing Wire

APRIL 1, 2024

ALTA, the national trade association of the title insurance industry, and the AARP lauded the Kentucky General Assembly on Monday for passage of House Bill 88. The property rights of American homebuyers must be protected,” Elizabeth Blosser, ALTA vice president of government affairs, said in a statement. “A

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Housing Wire

AUGUST 14, 2023

The American Land Title Association (ALTA) is celebrating a huge win in its ongoing war against title insurance alternatives. News of the rumored pilot program came in March, roughly a year after Fannie Mae first announced that it would be accepting attorney opinion letters (AOLs) in lieu of title insurance in limited circumstances.

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Insurance Finance Technology Government 370

Housing Wire

MAY 31, 2023

Last week we talked about the cost of flood insurance going up by over 200% for some homeowners in the Southeast as both the federal government and private insurers determine how to price the soaring cost of climate risk, or abandon insuring them altogether. What does this all mean for Californians?

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Insurance Clients Marketing Housing Market 384

Housing Wire

MARCH 5, 2024

Ginnie Mae has introduced new cybersecurity incident reporting requirements, the government-owned enterprise announced on Monday. Valverde said these problems affect homeowners, investors and insurance companies, and Ginnie Mae is “a bridge for all those counterparties.”

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Housing Wire

MARCH 1, 2023

And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.

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Housing Wire

FEBRUARY 12, 2024

FFIEC is a federal interagency coalition consisting of the Federal Reserve Board of Governors (FRB), the Federal Deposit Insurance Corp. The Federal Financial Institutions Examination Council (FFIEC) on Monday issued a statement outlining examination principles related to valuation and appraisal discrimination or bias in residential lending.

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Housing Wire

OCTOBER 4, 2023

Other updates include the clarification of value acceptance and property data, with Fannie Mae clarifying “to specifically state that property data collection must be obtained and submitted to Property Data API prior to the note date.”

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Housing Wire

FEBRUARY 23, 2024

TCB claims that it dealt with Ginnie Mae in good faith, having lent “millions of dollars in much-needed financing to help the collapsing [RMF] continue making payments to senior citizens as part of a mortgage program critical to the federal government.” TCB was thus left with no alternative but to file this action,” the bank concluded.

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