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Fannie Mae announces title insurance shake up

Housing Wire

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.

Insurance 427
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New American Funding partners with Matic Insurance and OneSource Solution

Housing Wire

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.

Insurance 373
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Three title insurance firms make the Inc. 5000 list in 2023

Housing Wire

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. It’s the third consecutive year that AccuTitle, founded in 2003, has made the Inc.

Insurance 335
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HUD outlines reverse mortgage wish list in budget proposal

Housing Wire

Department of Housing and Urban Development (HUD) are a few key priorities related to the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program. Of that total, $220 billion is estimated for standard forward mortgages and $17.9 Within the congressional justifications for the U.S.

Mortgage 339
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First American settles cybersecurity case with SEC

Housing Wire

The Securities and Exchange Commission announced last week a cybersecurity violation by title insurance giant First American Financial Corp. What should lenders look for when choosing mortgage technology? First American is the second-largest mortgage title and settlement company in the U.S., Presented by: SimpleNexus.

Insurance 412
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Opinion: Former Freddie Mac CEO lashes out at mortgage lenders

Housing Wire

Don Layton, the former CEO of Freddie Mac recently penned what can only be described as an attack piece on mortgage originators from his seat as a fellow at the JCHS, Harvard’s Joint Center For Housing Studies. The piece is titled, “The Policymaking Implications Of Record-High Mortgage Origination Profits During The Pandemic.”

Mortgage 439
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HUD: A racial divide exists between FHA homeownership and rental assistance programs

Housing Wire

A voucher location report published in 2003 said that white recipients of HCVs were “more likely to live outside of central cities than Black or Hispanic voucher recipients, indicating that the race and ethnicity of program participants may be determining factors for where they live.”

Tenants 414