Underwriting

State Farm General Insurance Co. said it's no longer accepting new applications for property and casualty coverage in California last week, a year after Allstate Corp. also paused new policies, worsening what FAIR Plan, a state-mandated insurance pool, called a "looming insurance unavailability crisis." 

The enterprises should offer an indemnification in lieu of the practice of a repurchase demand for all performing loans, writes the Executive Director of Community Home Lenders of America.

People in the industry use the terms interchangeably, but Washington State is warning brokers that they are not the same and other regulators could follow.

Starting June 7, the enterprise's platform will be able to analyze pay stub information.

Both Flagstar and Deephaven tout the practice of sharing their market expertise with the mortgage brokers and bankers doing business with them.

The latest forecast calls for $375 billion of lending on properties with five or more units, with total commercial originations of $654 billion.

Only one company, Doma, reported improved results from the year before, but it still took a large loss for the period.

The move cancels the fee Fannie Mae and Freddie Mac would have imposed on certain loans for which the borrower's total debt exceeded 40%.

Bank turmoil caused a reduction in adjustable-rate and refinancings, but jumbo product availability actually grew in April.

Even with lower new insurance written, the six active underwriters remained profitable.