Between 2015 and 2022, the private mortgage industry transferred more than $20.8 billion of risk exposure via the issuance of 51 insurance-linked notes through the capital markets.
State Farm, the nation’s largest writer of home insurance, cited inflation, wildfire risk and a challenging reinsurance market as reasons for its exit from the home insurance business in California.
The Mortgage Bankers Association this week raised concerns with the Department of Housing and Urban Development about its proposed property standards for new construction and substantial renovations of FHA-insured properties located in a floodplain.
There's some uncertainty on how revisions to Community Reinvestment Act standards will treat repurchases of delinquent loans pulled from Ginnie Mae pools.
The Mortgage Bankers Association and the Housing Policy Council asked the Department of Veterans Affairs to carefully consider the specifics of a new loss-mitigation program.