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California will require home insurers to offer policies in high-risk wildfire areas

Housing Wire

The California Department of Insurance unveiled a new regulation this week that aims to increase homeowners insurance coverage in areas prone to wildfires , a response to the recent pullback in policies by several major insurers. Currently, the state has no requirements for insurers to offer coverage in these areas.

Insurance 501
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To emphasize flood insurance costs, senator cites reverse mortgage borrower

Housing Wire

With flood insurance premiums commanding ever-higher prices, a U.S. senator recently described a hardship faced by a constituent who endured challenges with higher flood insurance costs while keeping a reverse mortgage in good standing. That’s on top of what they pay for homeowners insurance.” Bill Cassidy (R-La.).

Insurance 390
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In the race to modernize title, firms double down on software

Housing Wire

So far his venture-backed title company has launched platforms that have sped up title clearance and title insurance acquisition, and they have their sights on expanding into the lending and appraisal space. As title insurers our business practices and our regulatory oversight are different in every single state,” Stone said. “So

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CHLA: Here’s how to modernize ‘short-changed’ Ginnie Mae

Housing Wire

The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.

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HUD watchdog makes 35 recommendations to shore up issues

Housing Wire

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) on Tuesday released its priority open recommendations report, submitted to HUD Secretary Marcia Fudge designed to highlight as-yet unaddressed risks in the management of the department.

Design 435
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Sagent’s Dara: Advancing mortgage loss mitigation

Housing Wire

To help overcome these obstacles, Sagent has created its Dara Loss Mitigation platform as a solution that modernizes how homeowners and mortgage servicers address financial hardship. The platform’s intelligent design is showcased by its ability to pre-populate borrower data, substantially reducing application completion time.

Mortgage 365
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Senators reintroduce bill to allow remote online notarizations

Housing Wire

.” The bill has been endorsed by a wide array of organizations, including ALTA, Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), the American Council of Life Insurers (ACLI). “It makes sense to embrace remote online notarization as a permanent innovation.” million in the U.S. –