Housing Wire
NOVEMBER 7, 2024
It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. Some insurers say catastrophe risk is part of the business, part of the job.
Housing Wire
JANUARY 25, 2024
Homeowners in California now have even fewer choices in homeowners insurance carriers. The Hartford Financial Services Group , better known as The Hartford, announced Wednesday that it would no longer issue new homeowners insurance policies in California starting in February 2024. Unitrin Auto and Home Insurance Co.
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Housing Wire
SEPTEMBER 7, 2023
The Federal Housing Administration (FHA) on Thursday announced that it has issued a waiver to a requirement that FHA-approved lenders flag rejected loans in the FHA Connection (FHAC) system, an effort the agency says will improve access to government-insured mortgage financing for qualified borrowers.
Housing Wire
JANUARY 17, 2024
That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.
Housing Wire
MARCH 28, 2024
Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options.
Housing Wire
AUGUST 22, 2024
The Federal Housing Finance Agency (FHFA) on Wednesday updated its capital requirements for private mortgage insurers and allowed rules established during the COVID-19 pandemic to sunset. According to the USMI, private mortgage insurers held more than $26.8 Companies will have two years to fully implement the changes.
Housing Wire
JULY 30, 2024
As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. Mortgage Insurers (USMI). In terms of outstanding debt, the industry insures approximately $1.6
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