In case the Terrorism Risk Insurance Act is not renewed this year, Fitch Ratings plans to look more closely at fusion deals, according to Fitch managing director Daniel Chambers, who was a panelist at the Commercial Mortgage Securities Association's annual convention in New York.Mr. Chambers said he believes there is less likelihood of force-placement of terrorism insurance coverage because some loan documents now have caps in place on the cost of insurance that has to be taken out. Stacey Berger, executive vice president of Midland Loan Services, is seeing more flexibility in loan documents. Although there will be "constraints on the availability of insurance," he said he expects the market to stabilize over time. "The question is, will the transition be relatively benign?" Mr. Berger noted. The litigation that servicers have been involved in since 9/11 relating to force-placement of terrorism insurance has clearly put them "in a better place," according to Mr. Berger. Tricia Hall, a senior vice president at Lehman Brothers, also agreed that loan documents are "dictating what to do" since 9/11.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
23m ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
2h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
2h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18