Insurance

Insurance
Financial Services Committee

Improving the Housing Choice Voucher Program

The Housing and Insurance Subcommittee met today to review the Housing Choice Voucher Program and three legislative proposals that would improve mobility among families, foster kids and individuals recovering from opioid addiction within the program.
MBA

Mortgage Bankers Close Record $530 Billion in Commercial/Multifamily Originations in 2017

Commercial and multifamily mortgage bankers closed a record $530.1 billion of loans in 2017, according to the Mortgage Bankers Association's (MBA) 2017 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
NAR

Passage of FY 2018 Spending Bill Critical Step for Affordable Housing Funding and Flood...

With six months remaining in the 2018 fiscal year (FY), the National Association of REALTORS® urges the passage of the “omnibus appropriations bill” agreed upon by U.S. House and Senate negotiators last night, which is designed to fund the federal government through September 30, 2018.
MBA

Commercial/Multifamily Mortgage Debt Rose over $200 Billion in 2017

The level of commercial/multifamily mortgage debt outstanding at the end of 2017 was $3.18 trillion, $200.3 billion higher than at the end of 2016, or an increase of 6.7 percent, according to MBA's latest Commercial/Multifamily Mortgage Debt Outstanding report released today. The fourth quarter of 2017 saw an increase of $73.6 billion, or 2.4 percent, over the third quarter, as all four of the major investor groups increased their holdings.
Financial Services Committee

Reviewing State-Based Insurance Regulation

The Housing and Insurance Subcommittee met today to review H.R. 5059, the State Insurance Regulation Preservation Act. Introduced on February 15, 2018 by Representatives Keith Rothfus and Joyce Beatty, the bill would amend the Home Owners’ Loan Act with respect to the registration and supervision of insurance savings and loan holding companies (SLHC).

VA Awards More Than $496,000 to Improve IT Infrastructure as Part of ‘Buy vs....

The U.S. Department of Veterans Affairs (VA) announced the award of a $496,405.35 task order to Favor TechConsulting (FTC) LLC to provide Identity and Access Management (IAM) services to improve and maximize cost savings to VA’s current information technology (IT) infrastructure.
DOI

Secretary Zinke announces Creation of the “Made in America” Recreation Advisory Committee

U.S. Secretary of the Interior Ryan Zinke announced the establishment of the “Made in America” Recreation Advisory Committee. The Committee will advise the Secretary of the Interior on public-private partnerships across all public lands, with the goal of expanding access to and improving infrastructure on public lands and waterways
Financial Services Committee

Examining the Availability vs. Reliability of Insurance for Non-Profit Organizations

The Subcommittee on Housing and Insurance held a hearing to examine insurance for non-profit organizations. The purpose of this hearing was to evaluate the availability of property insurance coverage for non-profit organizations and address whether Risk Retention Groups (RRGs) should be granted the authority to offer property and auto coverage.
HUD - U.S. Department of Housing and Urban Development

HUD ANNOUNCES DISASTER ASSISTANCE FOR FLORIDA STORM VICTIMS

U.S. Housing and Urban Development today announced HUD will speed federal disaster assistance to the State of Florida and provide support to homeowners and low-income renters forced from their homes due to Hurricane Irma.
NAHB

Statement from NAHB Chairman Granger MacDonald on HUD Suspending FHA Multifamily Mortgage Insurance Applications...

Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, today issued the following statement regarding the Department of Housing and Urban Development’s decision to halt new FHA multifamily mortgage insurance applications in counties impacted by Hurricane Harvey and designated as Presidentially Declared Disaster areas
NAR

With National Flood Insurance Program Expiring Soon, Realtors® Sound the Alarm

The National Flood Insurance Program is now less than one month away from expiration, raising concerns that homeowners, consumers, and commercial property owners could soon find themselves either unprotected or unable to get a mortgage.

The different types of real estate insurance

Insurance is something that has evolved over the years, to encompass a much larger area. That being said, it has also gotten very specific about what exactly it is that you’re insuring. As for what it means, the definition is in the name. Insurance is something that guarantees you will be reimbursed if something bad happens to whatever it is that you’ve insured.
Financial Services Committee

Committee Completes Markup of Bills to Reauthorize and Reform National Flood Insurance Program

The House Financial Services Committee met today to complete deliberation of and pass several measures to reform and reauthorize the National Flood Insurance Program (NFIP), which is set to expire on September, 30, 2017.
NAR

With National Flood Insurance Program Expiring in Six Months, Realtors® Sound the Alarm

On September 30, just six months from today, the National Flood Insurance Program will expire. The National Association of Realtors® is working closely(link is external) with federal regulators and members of Congress to strengthen the program(link is external) and clear the way for a private market to take hold; NAR has also issued a series of principles(link is external) to improve access and affordability for consumers.
Financial Services Committee

Subcommittee Assesses U.S.-EU Covered Agreement

Members of the Financial Services Housing and Insurance Subcommittee met on Thursday to discuss and hear expert testimony on the recently announced “covered agreement” reached between the United States and the European Union on insurance and reinsurance.

Business Real Estate Press Releases

Multi-Tenant Retail Property

Hanley Investment Group Arranges Sale of Newly Constructed Multi-Tenant Retail Property...

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm completed the sale of a 6,777-square-foot new construction multi-tenant retail pad building occupied by The Coffee Bean & Tea Leaf (with drive-thru), Chipotle, Jersey Mike’s Subs and WaBa Grill at 13916 Garvey Avenue in Baldwin Park, Calif.

Recent Gov & Nonprofit Real Estate Press Releases

Financial Services Committee

An Overview of Homelessness in America

The Housing and Insurance Subcommittee met today to examine the current state of homelessness in America, and to discuss issues regarding veteran, youth, and any other populations affected by homelessness