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. An overhaul of the homeowners insurance market is in order to prevent an impending catastrophe in the mortgage market. And that’s where policies are available.

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Housing Wire

OCTOBER 4, 2023

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. “As

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Housing Wire

SEPTEMBER 19, 2022

Mortgage tech startup Staircase says it has launched a tool that enables mortgage insurers to automate the underwriting of non-delegated mortgage insurance (MI) policies for lenders at about half of the typical cost. Which mortgage tech advancements are making the biggest impact? Presented by: Stavvy.

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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

JULY 7, 2022

the holding company for Enact Mortgage Insurance Co. , The credit facility will be used for working capital and other corporate purposes as well as for capital contributions to its insurance subsidiaries. Enact (Nasdaq: ACT), formerly known as Genworth Mortgage Insurance Corp., Enact Holdings Inc.,

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Housing Wire

OCTOBER 4, 2023

Senate and the House of Representatives introduced new bills requiring title insurance on mortgages purchased by government-sponsored enterprises (GSEs). The new language prohibits GSEs from purchasing conventional mortgages for one- to four-unit properties unless the loans have primary-lien title insurance.

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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. Those loans, totaling close to $4.5

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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

JULY 25, 2023

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? Back in 2020, insurance premiums averaged $1,637 in Texas.

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Housing Wire

DECEMBER 16, 2022

For most real estate industry professionals, title insurance needs no introduction. A trusted product , title insurance has been used to protect real estate transactions and property rights for over a century. Title insurance is different than most other insurance products. Diane Tomb, ALTA CEO Contributor.

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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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Housing Wire

NOVEMBER 16, 2020

If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. Home insurance is also called homeowner’s insurance or hazard insurance. But mortgage insurance? What mortgage insurance does.

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Housing Wire

MAY 16, 2022

Polly , a software-as-service mortgage technology firm that operates a loan-trading platform, integrated with six mortgage insurance providers to streamline the mortgage process for loan officers and mortgage lenders. . Polly raised about $57 million from three rounds of funding since its launch in 2019.

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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 19, 2023

Title premium volume continued to trend downward during the second quarter of 2023 as high mortgage rates and low housing inventory continued to plague the real estate industry. billion in title insurance premiums, down from $6.21 billion in title insurance premiums, down from $6.21 Commonwealth Land Title Insurance Co.

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Housing Wire

OCTOBER 11, 2023

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. In August, however, news broke that Fannie had decided to scrap the pilot program before it had even launched.

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Housing Wire

MARCH 8, 2024

The Desjardins Group , a Quebec-based lender, is no longer issuing mortgages in high-risk flood areas, multiple media outlets reported this week. According to the Insurance Bureau of Canada , roughly 1.5 According to the Insurance Bureau of Canada , roughly 1.5 In addition, Canada doesn’t have a national flood insurance program.

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Housing Wire

OCTOBER 2, 2023

Passage allows Congress to fund the government for 45 days, provide $16 billion in disaster assistance, and temporarily extend the National Flood Insurance Program. In the meantime, Congress continues to work on a long-term reauthorization of the program, the National Association of Realtors (NAR) said in an FAQ document released last week.

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Housing Wire

APRIL 24, 2024

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a new edition of its Supervisory Highlights publication, which includes the agency’s actions to combat what it calls “ junk fees charged by mortgage servicers , as well as other illegal practices.”

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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

AUGUST 9, 2023

Homeowners in the United States have experienced a precipitous drop-off in the availability of home insurance policies this year, with the availability of certain policies having dropped by more than half, according to a report commissioned by insurance agency Matic Insurance.

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Housing Wire

AUGUST 17, 2023

With the housing industry down across the board, upstart title insurance firms couldn’t maintain strong growth rates in 2023. Just three title insurance firms made the annual Inc. Nine title insurers made the list in 2022. The title insurance firm ranked No. The Plano, Texas-based title insurance firm was ranked No.

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Housing Wire

SEPTEMBER 7, 2023

The Mortgage Bankers Association (MBA) on Thursday sent a letter to leaders of the U.S. Senate Committee on Banking, Housing and Urban Affairs to address the availability of flood insurance. MBA members are very concerned that private property insurance has reached a point of critical market dislocation,” the letter said.

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Housing Wire

MAY 13, 2021

Genworth Financial said it will delay the initial public offering of its recently rebranded mortgage insurance arm, Enact Holdings. ” The Richmond, Virginia-based company initially considered taking its mortgage insurance arm public to pay down $1 billion in debt coming due this year. .

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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

MARCH 22, 2023

HousingWire recently spoke to Tom Kriby, vice president of client development and partnerships at Westwood Insurance Agency, about how working with an insurance agency can simplify the closing process for their customers, even in times of interest rate uncertainty. Take insurance, for example.

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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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Inman

APRIL 19, 2024

With new clients including USA Mortgage and New American Funding, Matic says it's doing business with more 100 mortgage lenders and servicers that together process 20 percent of U.S. home loans.

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Housing Wire

JULY 29, 2022

vertical manager of strategic partnerships at Liberty Mutual, to discuss how partnering with a nationally recognized insurance company improve borrower engagement for lenders. HW: How can partnering with a nationally recognized insurance company improve borrower engagement for lenders?

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Housing Wire

DECEMBER 14, 2022

Slower housing market conditions , mortgage rate volatility and rising affordability challenges took their toll on the title insurance industry during the third quarter of 2022. During the quarter, the title insurance industry generated $5.4 billion in title insurance premiums, down 20.6% The industry paid $438.7

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Housing Wire

MAY 24, 2023

methodology in October 2021, thousands of homeowners in low-elevation coastal areas of the United States braced for federal flood insurance hikes. Recently released data from the agency shows that annual flood insurance premiums will eventually double or even triple for homeowners in some U.S. When FEMA released its Risk Rating 2.0

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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

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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Appraisal Buzz

DECEMBER 2, 2021

The post Mortgage Insurance Deduction Legislation Introduced appeared first on theMReport.com. The post Mortgage Insurance Deduction Legislation Introduced appeared first on Appraisal Buzz. New bipartisan measure aims to make permanent a deduction for MI premium payments for middle-class homeowners.

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Housing Wire

MAY 9, 2022

The American Land Title Association saw a nearly 36% year-over-year increase in title insurance premium volume in 2021 for a staggering $7 billion spike, according to the trade group’s Market Share Analysis , published Friday. The title insurance industry generated $26.2 with 20.5%; Old Republic National Title Insurance Co.,

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Housing Wire

DECEMBER 9, 2021

year-over-year increase in title insurance premium volume during the third quarter of 2021 according to ALTA’s Market Share Analysis , published on Thursday. During Q3 2021, the title insurance industry generated $6.8 billion in title insurance premium, marking the industry’s best quarter on record. Presented by: ServiceLink.

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Housing Wire

JANUARY 21, 2022

According to the regulator, the bank violated the FDPA to “make, increase, extend, or renew loans” secured by properties in special flood hazard areas until after it obtained proof of adequate insurance. Flagstar Bank originated almost $40 billion in mortgage loans from January to September 2021, an 11.4% The post Flagstar to pay $3.6M

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