Insurance
RealEstateRama Insurance
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.
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.
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
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 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.
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
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.
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.
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.
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.