Finance

The consumer must purchase the flood coverage in combination with homeowners insurance. The company lays claim to being the first admitted carrier in the state to offer such coverage post-Biggert-Waters.

There have been low levels of homebuilding in Nevada, Arizona, California and Florida due to the glut of cheap, distressed homes that flooded the market during the recession.

Democrats want the new FHFA director to lift suspension on GSE funds to build and preserve affordable rental units.

A continuing stumbling block is that Fannie Mae and Freddie Mac are unhappy about having their liens on properties subordinate to PACE loans, a DBRS executive said at ABS West.

Current mortgage lending growth assessments are consistently pointing in one direction: jumbo loans, and to a lesser extent home equity credit lines. But these loans make sense only in certain areas.

GSE reports that 2013 loan acquisitions are off by less than 1% from 2012.

Players in the REO-to-rental space see a bright future in pooling the cash flows of many operators into conduit transactions, but some believe the market is getting ahead of itself.

The founder of $49 billion investment firm DoubleLine Capital LP is largely avoiding the subprime-mortgage bonds that jumped about 17% last year after home prices surged by the most since 2006.

A consortium of tribes and a central financing facility could tap the bond market for much-needed housing money.

Fannie Mae had brought claims against New York-based Lehman over mortgages the bank packaged and sold. The agreement resolves one of the “single largest remaining claims” against the Lehman parent.

Federally insured credit unions with assets of $50 million-plus and concentrations in real estate loans would have to maintain additional capital requirements under the National Credit Union Administration proposal.

The decrease was largely driven by losses at the company's mortgage banking subsidiary, George Mason Mortgage.

KB Home experienced the best gains on the day among stocks included in this publication's Mortgage Industry Equity Composite.

Refinancing dominated application activity, the Mortgage Bankers Association's report weekly report shows.

Debt service coverage ratio has been the one commercial mortgage-backed securities underwriting metric to improve, but higher rates are likely to reverse its course.

LoanLogics is rolling out a management platform that helps improve performance and seeks zero defects.

Through the end of 2014, the unpaid principal balance for this loan portfolio is a little less than $190,000.

The move will give the company a presence in Texas, where several mortgage servicers and originators are located.

Price-to-rent ratios in San Francisco, for example, are up almost 25% since 2012 and near an all-time high. Also, national prices are 15% overvalued, “in real terms,” according to the company.

Secondary market agency agrees to share securitization methods with Japan's housing finance chief.