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Severe storm fallout could destabilize the intersection of mortgage and insurance

Housing Wire

The home insurance marketplace has been facing a reckoning. With the death toll from Helene crossing the grim milestone of 230 this week — and with thousands of impacted homes without flood insurance wiped away — this could lead to a ripple effect that drives homeowners insurance premiums even higher.

Insurance 441
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Can the National Bank Act be Preempted by State Law? 

Appraisal Buzz

On May 30, 2024, the Supreme Court of the United States (SCOTUS) issued its opinion on a matter of far-reaching consequence—whether the National Bank Act preempts a New York State consumer financial law requiring payment of interest on mortgage escrow accounts in the case of Cantero v. Nelson, Florida Insurance Commissioner, et al.,

Law 221
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Incenter Adds New Chief Legal Counsel

Appraisal Buzz

from Penn State Dickinson Law, her LL.M. in Taxation from Villanova University Charles Widger School of Law, and a Bachelor’s Degree in Political Science from La Salle University. Dutill earned her J.D. The minute I met Incenter’s leadership, I was ready to join,” said Dutill.

Legal 390
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In its war on ‘junk fees,’ CFPB targets mortgage servicing

Housing Wire

“Since mortgage borrowers are captive to a company they never chose to do business with, we are working hard to detect and deter violations of law.” The agency also asserted that deadlines to pay property taxes and homeowners insurance were impacted.

Mortgage 456
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Reverse educators take on more HECM misconceptions

Housing Wire

A reverse mortgage itself is not a tax-free financial instrument, he explained. He referred to a recent move in Florida, where state tax stamps were reduced following legislation signed into law in May. And intangible tax, depending on who you talk to or what county in Florida, may be taxed at a higher level,” he added. “So,

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What Metaverse real estate means for mortgage professionals

Housing Wire

Today, the law is not yet clear on whether or not virtual land in the Metaverse is “actual” real estate. There is no public guidance from state or federal regulators at the time of this writing as to whether mortgages for virtual real estate are governed by traditional laws and regulations that govern traditional mortgages.

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Understanding Property Taxes and Additional Charges

Eppraisal

As homeowners, we're familiar with the annual ritual of receiving our property tax bill. We'll try to help by shedding some light on the various components that make up your property tax bill, providing you with a comprehensive understanding of what you're paying for. or more of your property's value.