Insurance

Insurance
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.

American Land Title Association Supports Effort to Improve Real Estate Closing Process

The American Land Title Association (ALTA), the national trade association of the land title insurance and real estate settlement industry, sent a letter to the National Association of Secretaries of State (NASS) offering support of efforts to promote the understanding of remote electronic notarizations.

American Land Title Association Announces National Notary Association as an Elite Provider

The American Land Title Association (ALTA) has announced that the National Notary Association (NNA) has been named an ALTA Elite Provider.

American Land Title Association Statement on HUD Nominee Dr. Ben Carson

The American Land Title Association (ALTA), the national trade association of the land title insurance and real estate settlement industry, released the following statement today in response to the U.S. Senate Committee on Banking, Housing and Urban Affairs hearing to confirm Dr. Ben Carson as the next secretary of the U.S. Department of Housing and Urban Development

FHA TO REDUCE ANNUAL INSURANCE PREMIUMS ON MOST MORTGAGES

As the nation’s housing market continues to improve, U.S. Housing and Urban Development Secretary Julián Castro today announced the Federal Housing Administration (FHA) will reduce the annual premiums most borrowers will pay by a quarter of a percent. FHA’s new premium rates are projected to save new FHA-insured homeowners an average of $500 annually

House Passes Bill to Increase Transparency in International Regulatory Discussions

The House passed legislation on Wednesday that would enhance congressional oversight of international deliberations relating to insurance standards by a vote of 239-170. Sponsored by Housing and Insurance Subcommittee Chairman Blaine Luetkemeyer (R-MO), the Transparent Insurance Standards Act directs federal regulators to solicit public comments, consult with state officials, and report to Congress before adopting international capital standards or other requirements for U.S. insurance companies.

Consumer Advocacy Groups Condemn Federal Court’s Decision Regarding CFPB

The Washington D.C. Circuit Court of Appeals issued a ruling against the Consumer Financial Protection Bureau (CFPB) in PPH Corporation v. CFPB, a case dealing with the CFPB’s ability to order New Jersey mortgage-lending company PPH to pay a $109 million enforcement penalty after the corporation was found offering illegal kickbacks to mortgage insurance partners.

American Land Title Association Names Daniel D. Mennenoh as President

The American Land Title Association (ALTA), the national trade association of the land title insurance industry, announced that Daniel D. Mennenoh ITP, NTP has been installed as president for the 2016-2017 year.

Housing Subcommittee Discusses Potential Covered Agreement with the EU

The Housing and Insurance subcommittee held a hearing to examine international factors affecting domestic insurance markets.  Subcommittee members questioned hearing witnesses on the various international regulatory standards being considered by the G-20, the Financial Stability Board, the International Association of Insurance Supervisors, and other international supervisory authorities.  In addition, today’s hearing gave members the first real opportunity to examine the covered agreement negotiations between the United States and the European Union.

ALTA Consumer Survey Shows 40% Confused by Title Fee Calculation on Closing Disclosure

Over 40 percent of American homebuyers feel taken advantage of or are confused by the calculation of title insurance fees on the Consumer Financial Protection Bureau’s (CFPB) new mortgage disclosures, according to a new study by the American Land Title Association (ALTA)

Testimony of Federal Insurance Office Director Michael McRaith before House Financial Services Subcommittee on...

Chairman Luetkemeyer, Ranking Member Cleaver, Members of the Subcommittee, thank you for inviting me to testify today on the impact of U.S. – EU dialogues on insurance markets. Today’s hearing focuses on prudential aspects of international insurance matters, including the prospect of an agreement on such matters between the United States and the European Union.  With respect to these topics, Congress granted the Federal Insurance Office (FIO) the following authority

ESA Changes to National Flood Program will Harm Housing Affordability

The National Association of Home Builders (NAHB) today urged Congress to oppose the inappropriate use of the Endangered Species Act (ESA) to change the focus of the National Flood Insurance Program (NFIP) away from protecting lives and property due to flooding loss

PCI’s 5 Step Disaster Reality Check for Financial Preparedness and Insurance Readiness

Just within the last month the U.S. experienced the first hurricane hitting Florida in more than a decade, historic flooding in Louisiana, and the strongest earthquake on record in Oklahoma. Because Mother Nature has the power to change lives overnight, the Property Casualty Insurers Association of America (PCI) is urging property owners to take a “Disaster Reality Check” regarding their preparedness and ability to recover from a natural disaster or other emergency.

Hensarling: New Law Modernizes Outdated Housing Rules

House Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following comments after President Obama signed into law H.R. 3700, the Housing Opportunity Through Modernization Act

Hensarling: Attack on FHA’s Insurance Fund Must be Stopped

House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at a hearing with Housing and Urban Development Secretary Julian Castro about sudden policy changes the Secretary is making to the sale of nonperforming loans insured by the government

Builders Urge Caution as Congress Reauthorizes the National Flood Insurance Program

Extreme flood insurance rate hikes and inaccurate floodplain maps drive up the cost of homeownership and threaten small businesses, the nation’s home builders told Congress today

REALTORS® to Congress: Flood Insurance Rates Post Threat to Business, Homeownership

Flood insurance costs continue to put small businesses and homeownership at risk, but the National Association of Realtors® told U.S. Senators today that a range of solutions are on the horizon
AL BAXTER

AL BAXTER, MAINTENANCE PERSON OF THE YEAR

The United States Department of Agriculture Rural Development (USDA Rural Development) announced the winners of the National Multi-Family Housing Maintenance People of the Year for 2016. We are proud to announce Al Baxter, Maintenance Mentor at Willow Landing Apartments I & II, was one of two recipients of this award. This is the second year USDA Rural Development has given an award for Maintenance Person of the Year

Institute Testifies About Using Incentives to Reduce Cost of Disaster Response

The way to achieve resilience in U.S. communities is through an approach that incorporates input, consensus, leadership and action from a broad spectrum of stakeholders, ranging from insurance and finance-related companies, lenders and foundations; forward-thinking communities and government agencies; and important decision makers, including homeowners, businesses and utilities.

Architects Praise Introduction of National Mitigation Investment Act of 2016

Legislation will reduce disaster losses and save lives by shifting the federal focus to pre-disaster mitigation and resilient construction. The American Institute of Architects (AIA) today applauded Reps. Carlos Curbelo, R-Fla., and Albio Sires, D-N.J., for the introduction of bipartisan legislation to focus federal disaster policy on preventing losses.

Flood Insurance Legislation Promises Flexibility for Consumers

Property owners who opt to purchase flood insurance in the private market rather than through the National Flood Insurance Program may do so under current rules, but they risk paying higher rates if they return to the NFIP. H.R. 2901, the "Flood Insurance Market Parity and Modernization Act," passed the U.S. House of Representatives today by a vote of 419-0 and seeks to alleviate that concern

Freedom Mortgage Corporation Agrees to Pay $113 Million to Resolve Alleged False Claims Act...

Freedom Mortgage Corporation has agreed to pay the United States $113 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting single family mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) that did not meet applicable requirements for the FHA insurance program, the Justice Department announced today.  Freedom Mortgage Corporation is headquartered in Mt. Laurel, New Jersey.

NAMB Applauds Congressional Flood Insurance Initiative

NAMB—The Association of Mortgage Professionals has commended the House Financial Services Committee for taking up HR 2901, the Flood Insurance Market Parity and Modernization Act of 2015

National Apartment Association Reaches All 535 Congressional Offices With Strong Message: Lawmakers Must Address...

Members of the National Apartment Association (NAA) and nearly 170 affiliated associations this week turned out for their largest ever advocacy campaign, both on Capitol Hill and in congressional districts from coast to coast. Telling lawmakers that apartments work, industry members emphasized that lawmakers must enact public policies that promote rather than obstruct the industry’s ability to provide housing and jobs.

Popular Government & Nonprofit Press Releases

Congresswoman Eleanor Holmes Norton

State Department Response to Norton Letter on Run-Down Foreign Government Buildings...

Congresswoman Eleanor Holmes Norton (D-DC), who asked the U.S. State Department to address a growing number of buildings owned by foreign governments in the District of Columbia that have been vacated and fallen into poor condition, released the U.S. State Department Office of Foreign Missions’ (OFM) response to her letter, which shows heightened progress on a number of these properties.

Recent Government & Nonprofit Press Releases

DOI

Secretary Zinke Announces $94.3 Million to States for Parks and Outdoor...

U.S. Secretary of the Interior Ryan Zinke today announced that $94.3 million will be distributed for outdoor recreation and conservation projects to the 50 states, U.S. territories, and the District of Columbia from the Land and Water Conservation Fund (LWCF), which is funded through offshore oil and gas leasing. These funds are awarded through federal matching grants that leverage public and private investment in America’s state and local public parks.