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Volume 7 - Number 5

February 28, 2014

Around the Industry

House Weighs Bill to Restore Grandfathered Flood Insurance Rates. There is a possibility that the House of Representatives will vote next week on the amended version of H.R. 3370, the Homeowner Flood Insurance Affordability Act, as Republicans and Democrats continued to negotiate on proposed changes and further protection for homeowners who face hefty rate increases. H.R. 3370 builds on bipartisan legislation the Senate passed last month to delay flood insurance rate increases. Specifically, the substitute bill would make permanent the grandfathering of lower rates, which means catastrophic rate increases would no longer occur because of Federal Emergency Management Agency remapping. The Senate bill would only delay the changes for four years. In addition, the House bill would repeal the home sale/new policy triggers in the Biggert-Waters Act for all properties, including the ...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.