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Washington the latest state to see insurers pull back

Housing Wire

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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Title insurance premium volume dropped 37% in Q2 2023

Housing Wire

billion in title insurance premiums, down from $6.21 Top underwriters for the quarter by market share included First American Title insurance Co. with 22.3%; Old Republic National Title Insurance Co. with 14.8%; Fidelity National Title Insurance with 14.1%; Chicago Title Insurance Co.

Insurance 370
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FHA issues waiver to make government-insured mortgages more accessible

Housing Wire

The Federal Housing Administration (FHA) on Thursday announced that it has issued a waiver to a requirement that FHA-approved lenders flag rejected loans in the FHA Connection (FHAC) system, an effort the agency says will improve access to government-insured mortgage financing for qualified borrowers.

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Porch Group’s insurance carrier Homeowners of America placed under regulatory supervision

Housing Wire

Porch Group announced that its insurance subsidiary Homeowners of America (HOA) has been placed under temporary supervision by Texas regulators. Vesttoo’s alleged fraudulent activity is an unfortunate event for insurance carriers and the reinsurance industry alike,” Matt Ehrlichman, CEO of Porch Group, said in a statement.

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How lenders can help lessen home insurance shopping headaches for borrowers

Housing Wire

Getting the home insurance required to close is often more complicated than it needs to be. HousingWire recently spoke with Tom Kriby, vice president of client development and partnerships at Westwood Insurance Agency , about the home insurance shopping process and how lenders can help make it simpler for their borrowers.

Insurance 350
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Here’s why the home insurance market matters

Housing Wire

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. HousingWire: What is the current home insurance market like? In 2022, property and casualty insurers recorded a combined ratio of 102.4%

Insurance 360
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MBA stresses the long-term need for flood insurance availability as NFIP expiration looms

Housing Wire

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.

Insurance 383