Insurance

New IBHS Report Rates Building Codes in 18 Coastal States

Austin, Tex. – April 1, 2015 – (RealEstateRama) –¬†At the National Hurricane Conference today,¬†Insurance Institute for Business & Home Safety¬†(IBHS) President and CEO Julie Rochman announced the release of the second edition of the Institute‚Äôs¬†Rating the States¬†report. The study assesses the progress of 18 hurricane-prone coastal states along the Gulf of Mexico and the Atlantic [...]

Nationwide Unveils Broad Measure of U.S. Housing Landscape That Signals Healthiest Outlook Since 2001

A new and forward-looking index of the U.S. housing market is at its healthiest level since 2001. Nationwide, a leading insurance and financial services organization, unveiled its new housing market barometer today, which evaluates the housing health outlook for the U.S. and 373 metropolitan areas.

IBHS Hurricane Research to employ HWind Scientific Data

The Insurance Institute for Business & Home Safety (IBHS) today announced it is working with HWind Scientific (HWS) to utilize its detailed archive of significant historical hurricane data, which will help IBHS associate winds from specific storms to its building performance research

Statement By Secretary Jeh C. Johnson On Insurance Claims

WASHINGTON, D.C. - March 3, 2015 - (RealEstateRama) -- The 60 Minutes report Sunday about Hurricane Sandy insurance claims is a matter of great concern to me and FEMA Administrator Craig Fugate. We share the views expressed by FEMA Deputy Associate Administrator Brad Kieserman during the program. Any allegation of fraud is highly troubling, and especially so when it involves Americans who have lost their homes in a natural disaster

Stronger Construction Standards can Reduce Tornado Destruction, says IBHS

OKLAHOMA CITY - February 25, 2015 - (RealEstateRama) -- ‚ÄúThe devastation and damage to homes and businesses caused by tornadoes can and should be reduced by better construction methods,‚ÄĚ said Dr. Tim Reinhold, chief engineer and senior vice president of research, Insurance Institute for Business & Home Safety (IBHS).

Severe Winter Weather in Forecast throughout the Country; IBHS Offers Last-Minute Checklist for Property Owners

Tampa, FL - February 20, 2015 - (RealEstateRama) -- Heavy snowfall, icy conditions, and freezing temperatures are likely for property owners in the Rockies, southeast and northeast in the next few days. As people throughout the country prepare for the oncoming dangerous winter weathe

3 Things Consumers Should Consider When Shopping for a Title Company

WASHINGTON, D.C. - February 17, 2015 - (RealEstateRama) -- Purchasing a home is the single largest investment most consumers make in their lifetime. Soon the spring homebuying season will begin and the American Land Title Association (ALTA) reminds consumers of the three most important things to consider when shopping for a title company

NAIC RELEASES REQUESTS FOR PROPOSALS TO MODEL VALUATIONS FOR COMMERCIAL AND RESIDENTIAL MORTGAGE-BACKED SECURITIES

WASHINGTON, D.C. - February 17, 2015 - (RealEstateRama) -- The National Association of Insurance Commissioners (NAIC) released separate requests for proposals (RFP) for vendors to model expected losses on approximately 6,000 commercial mortgage-backed securities (CMBS) and 24,500 residential mortgage-backed securities (RMBS). This process will produce valuations for state insurance regulators to set risk-based capital for CMBS and RMBS owned by U.S. insurance companies

FHA ANNOUNCES REVERSE MORTGAGE FORECLOSURE ALTERNATIVE

WASHINGTON, D.C. - February 2, 2015 - (RealEstateRama) -- The Federal Housing Administration (FHA) today issued a new policy under its Home Equity Conversion Mortgage (HECM) Program giving FHA-approved lenders the option to delay calling HECMs with eligible ‚Äėnon-borrowing spouses‚Äô due and payable. A delay would postpone foreclosure normally triggered by the death of the last surviving borrower. FHA‚Äôs new guidance will allow reverse mortgage lenders to assign eligible HECMs to HUD upon the death of the last surviving borrowing spouse, thereby allowing eligible surviving spouses the opportunity to remain in the home despite their non-borrowing status

IN CASE YOU MISSED IT‚Ķ Tampa Bay Times: ‚ÄúAtwater: Stress tests may instill confidence in insurance‚ÄĚ

WASHINGTON, D.C. - January 28, 2015 - (RealEstateRama) -- Florida's top financial officer said Tuesday that creating a "stress test" will help instill public confidence in the smaller insurers that have come to dominate Florida's property insurance market

Top 3 Reasons Real Estate Transactions Depend on Title Insurance Agents

WASHINGTON, D.C. - January 16, 2015 - (RealEstateRama) -- The American Land Title Association (ALTA), the national trade association of the land title insurance industry, reminds consumers this week of the top three reasons their efficient real estate transaction depends on the work of title insurance agents.

Realtors¬ģ Disappointed Senate Failed to Reauthorize Federal Terrorism Risk Insurance Program

WASHINGTON, D.C. - December 18, 2014 - (RealEstateRama) -- The following is a statement by National Association of Realtors¬ģ President Chris Polychron:

Insurance Industry Needs Support From Real Estate Sector and Governments to Mitigate Effects of Climate Change on the Built Environment

LONDON - December 3, 2014 - (RealEstateRama) -- A new white paper by the Urban Land Institute (ULI) finds that while the insurance industry is a leader in developing risk standards for natural disasters, the real estate sector and governments must also play an active role in climate change adaptation. Entitled What the Real Estate Industry Needs to Know about the Insurance Industry and Climate Change, the report draws upon data and analysis provided by Lloyd’s of London, to conclude that accurately priced insurance alone cannot mitigate the effects of climate change on the built environment.

ConsensusDocs Coalition Announces 2015 Business and Marketing Advisory Council Officers

WASHINGTON - December 2, 2014 - (RealEstateRama) -- ConsensusDocs announces the 2015 Business and Marketing Advisory Council (BMAC) leadership. E. Colette Nelson, Chief Advocacy Office for the American Subcontractors Association (ASA), was elected the 2015 BMAC Chair. Joanne S. Brooks, Esq., Vice President and Counsel for The Surety and Fidelity Association of America (SFAA), was elected the 2015 BMAC Secretary.

IBHS’ Hurricane Charley Research Still Relevant 10 Years Later

TAMPA - August 19, 2014 - (RealEstateRama) -- Hurricane Charley, which blew into southwest Florida this week ten years ago, was the start of one of the busiest hurricane seasons in the U.S., damaging one in five Florida homes. When it made landfall, Charley had the highest winds of any storm to hit the U.S. since Hurricane Andrew in 1992, and clearly demonstrated the benefits of strong building practices

Statement from NAHB Chairman Kevin Kelly on FHFA Proposal for Private Mortgage Insurance Companies

WASHINGTON, D.C. - July 14, 2014 - (RealEstateRama) -- Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del., issued the following statement on the Federal Housing Finance Agency’s (FHFA) draft eligibility requirements that private mortgage insurance companies would have to meet in order to insure loans sold to or guaranteed by Fannie Mae and Freddie Mac:

Disaster Survivors Urged to Register with FEMA Even if They Have Insurance

JACKSON, Miss. - May 22, 2014 - (RealEstateRama) -- FEMA does not duplicate benefits that homeowner or renter insurance covers, but it may be able to provide disaster assistance when insurance coverage is not enough to cover the damage. The only way to obtain that potential benefit is to register now for FEMA’s Individual Assistance program

Housing Experts Speak Out on the Senate Banking Committee’s Vote to Reform the Nation’s Housing Finance System

WASHINGTON, D.C. - May 19, 2014 - (RealEstateRama) -- Yesterday, the Senate Banking Committee voted 13-9 to approved S. 1217, a bill to reform the nation’s housing finance system. The bill winds down Fannie Mae and Freddie Mac, replacing them with a system whereby a new government entity will issue mortgage backed securities that will carry a government guarantee standing behind prescribed levels of private insurance

IBHS Featured in New Designing for Disaster Exhibit at National Building Museum in Washington, DC

TAMPA - May 8, 2014 - (RealEstateRama) -- The Insurance Institute for Business & Home Safety (IBHS) is proud to announce that video and photographs from testing conducted at the organization’s unique Research Center are part of the National Building Museum’s newest exhibit, Designing for Disaster, which opens to the public on May 11.

Landrieu: FEMA Fully Repeals Property-Sales Penalty

WASHINGTON - May 7, 2014 - (RealEstateRama) --‚ÄĒ After a phone call with National Flood Insurance Program (NFIP) Associate Administrator David Miller today, U.S. Senator Mary L. Landrieu, D-La., announced that the Federal Emergency Management Agency (FEMA) has fully repealed one of the most harmful provisions from Biggert-Waters that made it impossible for new buyers of homes or businesses to assume a property‚Äôs existing flood insurance policy. The provision, repealed by the Homeland Flood Insurance Affordability Act, had frozen real estate markets throughout the nation and threatened to wipe out the equity thousands of middle class families had built in their homes. Up to 82,000 properties in Louisiana‚ÄĒand 1.1 million nationwide‚ÄĒwill benefit from today‚Äôs announcement