Housing Wire

AUGUST 23, 2022

According to SingleSource, under the authority of the supreme court of the state where the property is located, attorneys who issue an ACT will be protected by a comprehensive liability wrapper – enabling SingleSource to provide comparable coverage as a title insurance policy at a much lower cost to the consumer.

Insurance 370

Insurance Legal Mortgage Marketing 370

Housing Wire

JANUARY 27, 2025

But the bureau added that many of the touted features of home equity contracts are risky, with the CFPB comparing them to loan features that were prominent in the run-up to the 2008 housing crisis. But HECM loans are insured and regulated by the FHA, and they are only available for homeowners who are at least 62 years old.

Contracts 370

Contracts Mortgage Property Taxes Law 370

Housing Wire

JULY 26, 2023

We immediately reach out to an insurance agent to see the insurability of the house because it is becoming more and more of a problem,” Armstrong, a Compass agent in San Diego, told HousingWire’s Brooklee Han in a feature we published Tuesday. Insurance policies for homeowners are skyrocketing. The result?

Insurance 370

Insurance Housing Market Supply Chain Marketing 370

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%.”

Insurance 370

Insurance Housing Market Marketing Agents 370

Housing Wire

JULY 27, 2021

Unlike lenders or servicers for Fannie Mae and Freddie Mac , Ginnie Mae issuers are responsible for passing along payments to investors after borrower equity, federal agency and mortgage insurance resources are exhausted. If those issuers fail, Ginnie Mae is ultimately responsible for making those investor payments.

Insurance 459

Insurance Finance Government Mortgage 459

Housing Wire

JANUARY 14, 2025

Obtain insurance Most states will require you to carry both liability insurance and errors and omissions (E&O) insurance for your brokerage. During the Great Recession of 2008, my brokerage faced declining production that forced some of our agents to leave the industry completely. Be adaptable and keep learning.

Real Estate 370

Real Estate Brokerage Agents Real Estate Agent 370

Housing Wire

MAY 24, 2024

Founded in 2008 and based in Fort Mill, South Carolina , Movement Mortgage offers a range of products including conventional, jumbo and government-insured loans, as well as a dedicated reverse mortgage division. The lender also provides rate-and-term and cash-out refinancing, along with construction and renovation loans.

Mortgage 448

Mortgage Renovations Loan Officers Retail 448

Housing Wire

NOVEMBER 27, 2023

Investors featured leading Israeli institutional investors, such as Migdal Insurance , Psagot Investment House , More Investment House , and Shavit Capital. Veev was founded in California, in 2008 by Amit Heller, Ami Avrahami, and Dafna Akiva. In March 2021, it raised $100 million through the Tel Aviv Stock Exchange’s TASE UP platform.

Inspection 482

Inspection Investors Investing Insurance 482

Housing Wire

OCTOBER 4, 2022

Even with a sharp rise in interest rates toward the end of the second quarter, the title insurance industry still recorded a relatively strong fiscal quarter, according to the American Land Title Association’s Market Share Analysis. billion in title insurance premium volume, only slightly down from the $6.54

Marketing 448

Marketing Insurance Real Estate Housing Market 448

Housing Wire

OCTOBER 16, 2024

But one analysis from the 2008 mortgage crisis found that “loans in majority-Black ZIP Codes were more likely to be FHA loans, suggesting that FHA played an outsized role in post-crisis homeownership in majority-Black neighborhoods,” the paper explained.

Tenants 488

Tenants Investing Housing Market Mortgage 488

Housing Wire

JULY 21, 2023

Under the FHA Modernization Act of 2008 , sellers, lenders and others with a financial interest in a real estate transaction are prohibited from providing DPA to FHA borrowers. If this change were made, the FHA program would join the other government-insured programs offered by the U.S. Bush administration in 2004. “If

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Modernization Insurance Sellers Real Estate 370

Housing Wire

MAY 5, 2021

Genworth Holdings announced an initial public offering for its mortgage insurance arm, Genworth Mortgage Holdings, after a long-delayed $2.7 In 2008, Blackstone Group acquired a 46% stake in Bayview, which now has $14.9 The company also said it settled existing litigation with AXA , the french insurance firm, in July 2020.

Insurance 396

Insurance Investing Real Estate Finance 396

Housing Wire

NOVEMBER 13, 2023

In recent years, the value proposition of title insurance has come under attack following Fannie Mae’s announcement that it would accept attorney opinion letters in lieu of title insurance, as well as Fannie Mae and Freddie Mac’s title waiver programs , which were eventually scrapped. “If

Insurance 448

Insurance Real Estate Agents Real Estate Agent 448

Housing Wire

MAY 1, 2023

The Federal Deposit Insurance Corporation (FDIC) and JP Morgan are also entering into a loss-share transaction on single family, residential and commercial loans it purchased from the former First Republic Bank. The FDIC estimated that its insurance fund would have to pay out about $13 billion to cover First Republic’s losses.

Insurance 397

Insurance Finance Government Mortgage 397

Housing Wire

JULY 12, 2024

It accused the lender of ”forging certifications and using unqualified underwriters to approve Federal Housing Administration (FHA) insured Home Equity Conversion Mortgages (HECM),” according to the original announcement. DOJ had alleged in a civil complaint that from 2008-2010, Nutter failed to comply with U.S.

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Government Insurance Development Law 447

Housing Wire

NOVEMBER 2, 2020

There’s a growing sense that affordable housing is a stable investment class for banks and insurance companies; even in the 2008 – 2009 recession, it held up well.”. “We’re seeing statistics from our developers across the country that their portfolios are holding up well,” he said.

Investors 459

Investors Transportation Property Taxes Investing 459

Housing Wire

MARCH 27, 2023

The North Carolina-based First Citizens announced on Monday an agreement with the Federal Deposit Insurance Corporation (FDIC) to acquire all of SVB’s deposits and loans that were moved to an FDIC-created bridge bank after the collapse. “We since the 2008 financial crisis.

Insurance 83

Insurance Loan Officers Mortgage Clients 83

Housing Wire

MARCH 27, 2023

Shortcuts to well-established processes do not end well — as the 2008 financial crisis demonstrated. The title insurance industry continued to pay out claims, many fraud-related, despite a severe recession. According to Politico , Fannie Mae would waive title insurance requirements for certain transactions under the pilot program.

Insurance 321

Insurance Government Home Value Real Estate 321

Housing Wire

JULY 18, 2024

In a final rule titled “Strengthening the Home Equity Conversion Mortgage Program,” FHA codified several significant changes to the HECM program that were previously issued by HUD under the Housing and Economic Recovery Act (HERA) of 2008 and the Reverse Mortgage Stabilization Act of 2013.

Mortgage 445

Mortgage Design Insurance Lending 445

Housing Wire

MAY 13, 2024

In 2022, they originated nearly two-thirds of mortgages, compared to 38% in 2008. Meanwhile, they owned servicing rights on 54% of mortgage balances in 2022, up from 4% in 2008. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

Finance 476

Finance Government Mortgage Legal 476

Housing Wire

JUNE 3, 2024

RMD already examined the study’s sections related to borrower trends and various program policy impacts, but the section on economic impact attempts to assess the value provided to taxpayers, as well as the HECM program’s impacts on the Federal Housing Administration ’s (FHA) Mutual Mortgage Insurance (MMI) Fund.

Insurance 445

Insurance Development Mortgage 445

Housing Wire

JUNE 9, 2021

Following the 2008 financial crisis, the federal commission examining the causes concluded that loans made by CRA-regulated lenders in neighborhoods in which they were required to lend were half as likely to default as similar loans made in the same neighborhoods by independent mortgage originators not subject to the law.

Lending 516

Lending Development Government Finance 516

Housing Wire

OCTOBER 1, 2020

The complaint announced on Friday alleges that in order to significantly increase its loan production, Nutter used unqualified underwriters lacking the requirements established by HUD to review and approve HECMs that Nutter ultimately insured with the FHA. When reached for comment, Edward T.

Legal 429

Legal Insurance Law Mortgage 429

Housing Wire

JANUARY 20, 2023

Big Four title insurer Old Republic is on the lookout for a new CEO after Mark Bilbrey announced on Thursday that he would be retiring at the end of January. Bilbrey joined Old Republic in 2007, was appointed executive vice president in 2008 and named president of Old Republic National Title Holding Co.

Insurance 397

Insurance Investors Marketing 397

Housing Wire

APRIL 25, 2024

This program provides counseling to all applicants of the federally insured reverse mortgage program, the Home Equity Conversion Mortgage program,” the report stated. Bush in 2008, established the Financial Literacy and Education Commission. The Financial Literacy and Education Improvement Act, signed into law by President George W.

Mortgage 442

Mortgage Government Law Design 442

Housing Wire

MARCH 10, 2023

The report also points out how IMB critics bootstrap legitimate concerns about largely unregulated nonbank financial products like crypto or payday lending to claim similar risks for IMBs, even though mortgages are more extensively regulated than any other financial product in the wake of the 2008 crisis. Another 2008? Harmless myths?

Mortgage 370

Mortgage Business Insurance Lending 370

Housing Wire

MARCH 15, 2023

The Company still maintains fully insured custodial deposit accounts at Signature,” the document says. “We It is now controlled by the Federal Deposit Insurance Corporation (FDIC). Signature’s closure followed Silicon Valley Bank ’s collapse on Friday, the biggest bank failure since Washington Mutual in 2008.

Insurance 370

Insurance Investors Real Estate Mortgage 370

Housing Wire

FEBRUARY 1, 2021

House of Representatives Committee on Financial Services, including General Counsel, Parliamentarian, and, most recently, Senior Counsel for the Housing and Insurance Subcommittee. Jones was also a vice president at Fannie Mae and an attorney advisor for the U.S. Department of Housing and Urban Development.

Legal 482

Legal Law Brokerage Finance 482

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. Therefore, lenders must follow FHA and VA rules to ensure only loans that meet credit and underwriting criteria are insured or guaranteed by the government.

Government 397

Government Insurance Mortgage Legal 397

Housing Wire

MAY 17, 2021

Freddie Mac implemented the CRT structure in 2013 to reduce the taxpayer’s exposure to its mortgage risks, shifting the risk of credit losses on the mortgages they insure onto investors. In a “severely stressed” scenario, with market conditions on par with the 2008 financial crisis, the net cost to the GSEs would be $20.6

Investors 440

Investors Insurance Mortgage Finance 440

Housing Wire

NOVEMBER 26, 2024

“Given the continued, though somewhat moderated, home price appreciation across the US, this increase will expand the accessibility of the FHA-Insured HECM program for older homeowners who may need to access their home equity to augment their retirement finances.” compared to third-quarter 2023. The limit handed down by the U.S.

Lending 370

Lending Insurance Development Finance 370

Housing Wire

DECEMBER 2, 2020

FHA’s mission is to support low-to-moderate income borrowers, so why does the law permit FHA to insure mortgages up to $822,375? In approximately 65 high-cost U.S. This is a question for Congress and the taxpayers who stand behind FHA to answer,” said assistant secretary for housing and federal housing commissioner Dana Wade.

Law 534

Law Housing Market Insurance Construction 534

Housing Wire

APRIL 5, 2021

In its most recent annual report to Congress, November 2020, the Federal Housing Administration ( FHA ) published its “capital ratio,” a measure of capital reserves to insurance-in-force held within the Mutual Mortgage Insurance Fund (MMI Fund). The same report revealed FHA had amassed capital reserves in the amount of $78.9

Insurance 336

Insurance Housing Market Mortgage Government 336

Housing Wire

AUGUST 19, 2022

Since the 2008 financial crisis, a significant structural change has taken place which over time threatens the long-term stability of housing finance. To be fair, this level of regulatory oversight was needed due to the criticality of banks to the financial system and potential exposure FDIC has by way of federal deposit insurance.

Finance 370

Finance Insurance Mortgage Business 370

Appraisal Buzz

AUGUST 23, 2024

He managed and sold more than 1,000 REO properties during the 2008 housing crisis. Department of Labor’s Unemployment Insurance Weekly Claims Report (Thursday) The post The Week Ahead: Expanding Into the World of Commercial REO first appeared on The MortgagePoint.

Realty 393

Realty Loan Officers Real Estate Retail 393

Housing Wire

OCTOBER 13, 2021

Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011. The holding company will invest in finance, insurance, and real estate businesses. The company ceased operations in July 2017 after years of declining volumes. The originations went from $14.1

Mortgage 425

Mortgage Investors Investing Loan Officers 425

Housing Wire

SEPTEMBER 22, 2022

The Federal Reserve (Fed) on Wednesday raised the federal funds rate by another 75 basis points, to 3%-3.25%, bringing it back to a level last seen in March 2008. “We will likely see operators that bought in the last few years without interest rate insurance finding it tough to service the debt.”

Real Estate 417

Real Estate Housing Market Mortgage Brokerage 417