Fitch Ratings is advocating the extension of the Terrorism Risk Insurance Act for two more years, arguing that market disruptions are likely if the backstop is not extended beyond its Dec. 31, 2005 expiration."There are no guaranties that availability of coverage will not be as serious a problem as it was before TRIA passed, which underscores the importance of a long-term solution," said Richard Carlson, a Fitch director. Mr. Carlson said he expects that, in the absence of the federal backstop, pricing could become an issue again and cause the price of the insurance to rise. This would especially affect high-profile "trophy" properties in major cities. And commercial mortgage servicers could have a more difficult time enforcing terrorism insurance coverage requirements, he said. The rating agency can be found online at http://www.fitchratings.com.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
2h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
9h ago -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
April 23 -
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
April 23