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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.

Insurance 434
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The title insurance professional’s ultimate resource guide

Housing Wire

But when we say this is the Ultimate Resource Guide for title insurance professionals, we mean it! Associations American Land Title Association (ALTA) ALTA serves as the national trade association and voice for the title insurance industry, representing over 6,000 title insurance companies, agents and real estate attorneys.

Insurance 311
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Nearly half of loans processed in Q1 showed fraud risks: FundingShield

Housing Wire

However, CPL Validations issues, including agent good standing, issuance limits or title file order registered in title insurer systems, recorded the largest increase, jumping 29.32%. of transactions having errors, as well as a higher rate of insurance coverage issues, at 2.2% up 60% compared to non-attorney only states.

Insurance 476
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The housing industry’s disparate impact hopes

Housing Wire

A homeowners insurer trade group, which has mounted successful legal challenges of the standard in the past, said it sees no reason the rule should apply to its industry. Exclusive access to the HW+ Slack community and virtual events. Start an HW+ Membership now for less than $1 a day. Become a member today. Already a member?

Legal 415
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Opinion: Lack of conformity in title fees facilitates predatory lending

Housing Wire

Title insurance protects borrowers from financial loss if the lender discovers a defect in the title to the property (for example, a previous mortgage) and demands a borrower to pay back the loan. Perhaps the interesting part regarding conformity in title insurance fees is found in Section 8 of RESPA (12 U.S.C.

Lending 384
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Crisis management in real estate: 8 tips for handling difficult situations

Housing Wire

This might consist of concrete steps to take in the event of: Financial difficulties. Legal disputes. Address other important items, including relevant contact information for support professionals, such as legal counsel, insurance providers and emergency services. Natural disasters. Public relations crises. Even better?

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DOJ, Nutter Home Loans reach $2.4M settlement over False Claims Act allegations

Housing Wire

aka Nutter Home Loans , to resolve allegations that the lender had underwritten ineligible reverse mortgages to be insured by the Federal Housing Administration (FHA). Lenders must ensure that the loans they take on are eligible for government insurance. Nutter & Co. , The lender “has agreed to pay $2.4 government. Nutter & Co.

Insurance 259