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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 348
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Fannie Mae and NAR at odds over flood-risk disclosures

Housing Wire

housing entities are at odds over the future of the federal government’s cash-strapped flood insurance program. But Fannie Mae , the government-sponsored entity that backstops a significant portion of the country’s mortgages, does not seek an exception to the 1974 Federal Privacy Act. Two of the most powerful U.S.

Insurance 354
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The Complete Guide to Buying a Home As a Government Employee

Raleigh Realty

Buying a Home As a Government Employee Are you a government employee preparing to buy a home? With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Who Is a Government Employee?

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Reverse mortgage originator: real estate CE helps close more purchase loans

Housing Wire

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents.

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The differences between FHA, VA, and USDA mortgages

Housing Wire

FHA mortgages are insured by the Federal Housing Administration. Top five questions to ask a potential real estate agent. The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. Are you confused about your mortgage options?

Mortgage 485
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Could online mortgage lenders reduce discrimination against Black homebuyers?

Housing Wire

Government-backed New Deal programs of the 1930s openly discriminated against minority borrowers and neighborhoods. Historic government institutionalized discrimination includes actions like “redlining,” where the Federal Housing Administration would refuse to insure mortgages in and around Black neighborhoods.

Mortgage 504
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Everything You Need to Know About Lender-Placed Insurance (LPI)

PennyMac

One of those documents likely included an agreement to maintain continuous homeowners insurance coverage. If your insurance lapses or gets canceled, your lender may step in and obtain lender-placed insurance (LPI) — also known as forced-placed insurance — to safeguard the property. What Is Lender-Placed Insurance?