Insurance

FHFA Announces Overhaul of Fannie Mae and Freddie Mac Mortgage Insurance Master Policy Requirements

Washington, DC – December 2, 2013 – (RealEstateRama) — The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac have completed the first major overhaul of mortgage insurance master policy requirements in many years. FHFA’s 2013 Conservatorship Scorecard calls for Fannie Mae and Freddie Mac to develop aligned requirements for master policies

Actual Cash Value Must Be Defined When Appraising Properties for Insurance Purposes: The Appraisal Journal

CHICAGO, IL – November 27, 2013 – (RealEstateRama) — The relationship between actual cash value and fair market value needs to be clearly defined by real estate appraisers called upon to develop an opinion of value for insurance purposes, especially in legal situations between the insurer and insured, according to an article published last week in The Appraisal Journal.

Secure your home before hitting the road for the holidays

Columbus, OH – November 20, 2013 – (RealEstateRama) — As 93.3 million Americans prepare to travel to visit loved ones or go on vacation this holiday season, Nationwide Insurance wants to ensure consumers are taking the proper precautions to protect their homes and belongings while they are away

Realtors® Demand Immediate Relief for Homeowners Impacted by Unforeseen and Exponential Increases in Flood Insurance Premiums

WASHINGTON, D.C. – November 20, 2013 – (RealEstateRama) — Homeowners across the country should not be forced to pay for the sudden and dramatic flood insurance premium increases that are the unintended consequence of the Biggert-Waters Flood Insurance Reform Act of 2012, insisted the National Association of Realtors® today in testimonybefore the U.S. House Financial Services Subcommittee on Housing and Insurance.

AIA and Bolster Work Together to Solve Issues Facing Home Remodeling

WASHINGTON, D.C. – October 30, 2013 – (RealEstateRama) — The American Institute of Architects (AIA) has entered into an agreement with Bolster, a company recently launched to simplify the process of home remodeling by providing insurance for the successful outcome of projects. The AIA and Bolster aim to combine their strengths and expertise to the benefit of homeowners, contractors and architects operating in the remodeling industry.

Realtors® Applaud Bipartisan Legislation to Delay Flood Insurance Rate Increases

WASHINGTON, D.C. – October 30, 2013 – (RealEstateRama) — “The bipartisan ‘Homeowner Flood Insurance Affordability Act’ introduced today in the Senate by Sens. Robert Mendendez, D-N.J.; Johnny Isakson, R-Ga.; and Mary Landrieu, D-La., and in the House by Reps. Michael Grimm, R-N.Y., and Maxine Waters, D-Calif., will help millions of homeowners who are facing sudden and extreme increases in flood insurance premiums, which are an unintended consequence of legislation to reform the National Flood Insurance Program

NAHB/Builders Mutual Insurance Company SAFE Awards Now Accepting Entries

WASHINGTON, D.C. – October 30, 2013 – (RealEstateRama) — The National Association of Home Builders (NAHB) is now accepting applications for the 2013 NAHB/Builders Mutual Insurance Company Safety Award For Excellence (SAFE). The awards program recognizes home builders and contractors who have developed and implemented high quality workplace safety programs, and also honors government officials and NAHB-affiliated associations who work to advance safety in the home building industry

Nationwide Insurance Renews as Official Auto, Home, Life and Business Insurance Partner of NASCAR; Becomes Presenting Sponsor of the Betty Jane France Humanitarian Award

Daytona Beach, Fl – September 18, 2013 – (RealEstateRama) — NASCAR and Nationwide Insurance have finalized a new agreement to extend Nationwide’s position as the official auto, home, life and business insurance partner of NASCAR through 2017. As part of the new contract, Nationwide Insurance also will become the presenting sponsor of the Betty Jane France Humanitarian Award.

Mortgage insurance: market structure, underwriting cycle and policy implications issued by the Joint Forum

WASHINGTON, D.C. – August 20, 2013 – (RealEstateRama) — The Joint Forum released today its final report on Mortgage insurance: market structure, underwriting cycle and policy implications.

Insurance Department Announces Auto and Homeowners Insurance Rates

COLUMBUS – August 20, 2013 – (RealEstateRama) — Lieutenant Governor and Department of Insurance Director Mary Taylor announced Ohio’s 2012 auto and homeowners insurance average rates, information that is annually compiled by the Department

Fannie Mae Maintains a Steady Pace of Multifamily Issuance in the Second Quarter

WASHINGTON, D.C. – July 15, 2013 – (RealEstateRama) — Fannie Mae (FNMA/OTC) announced today that the company issued approximately $7.6 billion1 of multifamily MBS in the second quarter of 2013, backed by new multifamily loans delivered by its lenders. Fannie Mae also resecuritized $3.0 billion of DUS® MBS through its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMSTM) program in the second quarter.

Governor Cuomo Deploying DFS Mobile Command Center to Herkimer County to Help Victims of Mohawk Flooding

Albany, NY – July 9, 2013 – (RealEstateRama) — Governor Andrew M. Cuomo is today deploying the Department of Financial Services’ (DFS) Mobile Command Center to Herkimer County to help homeowners and businesses affected by recent heavy rains and devastating flood damage in the Mohawk Valley region. Governor Cuomo also outlined resources and advice for victims who are dealing with their insurance company to help them get the relief to which they are entitled as quickly as possible, including the availability of a DFS Disaster Hotline at 1-800-339-1759.

FHLBank Pittsburgh Joins the Pennsylvania Association of Mutual Insurance Companies

PITTSBURGH – July 3, 2013 – (RealEstateRama) — The Federal Home Loan Bank of Pittsburgh (Bank) is pleased to announce its new membership with the Pennsylvania Association of Mutual Insurance Companies (PAMIC).

DataQuick Offers Online Resource for Local Market Analysis

SAN DIEGO – July 2, 2013 – (RealEstateRama) — DataQuick®, a Mortgage Technology Top 50 service provider, now offers its high-quality data, proprietary analytics and research expertise as an online resource through the company’s website. The site gives lenders, originators and investors convenient access to local market data and insight built from the nation’s largest independent property database

FHLBank Pittsburgh Welcomes Three New Members in First Half of 2013

PITTSBURGH – July 1, 2013 – (RealEstateRama) — The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today that in the first half of 2013, three new members joined the Bank’s cooperative of banks, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia

Nationwide Insurance Offers Tips to Protect Home and Belongings from Severe Weather

Columbus, OH – June 13, 2013 – (RealEstateRama) — As the potential for severe weather increases, Nationwide Insurance wants to remind those living in the Midwest to take a few precautionary measures to protect their home and personal belongings from damaging wind and heavy rain

Rate Increases Ahead for Some National Flood Insurance Program Policyholders

WASHINGTON, DC – May 17, 2013 – (RealEstateRama) — Changes are coming to the critically important National Flood Insurance Program that could impact real estate transactions and property owners across the country. That’s according to experts from the Federal Emergency Management Agency, which manages the government’s flood insurance program, who spoke to Realtors®

Hearing Explores Government Role in Multifamily and Health Care Facilities Mortgage Insurance and Reverse Mortgages

Washington, DC – May 17, 2013 – (RealEstateRama) — The Financial Services Housing and Insurance Subcommittee continued its examination of the troubled Federal Housing Administration (FHA) today with a hearing that focused on several of the agency’s programs that operate outside its mission

Housing Starts Slip with Multifamily Correction in April

WASHINGTON, D.C. – May 16, 2013 – (RealEstateRama) — A correction from an unsustainably high level of production on the volatile multifamily side was largely responsible for a 16.5 percent dip in nationwide housing starts to a seasonally adjusted annual rate of 853,000 units in April, according to newly released figures from HUD and the U.S. Census Bureau. However, permits for new construction headed solidly higher in the month, with a particularly strong gain in multifamily issuance

Mortgage Bankers’ Commercial/Multifamily Originations Rise to $244.2 Billion In 2012

WASHINGTON, D.C. – April 17, 2013 – (RealEstateRama) — Commercial and multifamily mortgage bankers closed $244.2 billion of loans in 2012 according to the Mortgage Bankers Association’s (MBA) 2012 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.