The Federal Emergency Management Agency says it has received 149,000 claims on government flood insurance policies covering homes in the three states affected by Hurricane Katrina.A FEMA spokesman told MortgageWire that there are 270,000 flood insurance policies covering homes in the area. But many homes had no flood insurance, mortgage executives told MW. One mortgage insurance official said he learned from his research that "if a home is protected by a levee then it doesn't need a flood policy." Meanwhile, Federal Deposit Insurance Corp. Chairman Donald Powell said Monday that 95% of bank branches in the affected area are "up and running." He also said he does not anticipate any liquidity problems for banks operating in the area, including small community banks.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27