Live Insurance News

FHA set to reduce mortgage insurance premiums

January 14, 2015January 13, 2015 Marc

Federal agency has plans to significantly reduce mortgage insurance premiums in the near future The U.S. Federal Housing Administration (FHA) has announced plans to cut mortgage insurance costs. The move is part of a larger endeavor that involves making it easier for families to purchase homes throughout the country. The FHA has a program that offers those with modest incomes the chance to purchase homes. This program is designed to support those that do not have enough money to make a significant down payment on a property. Insurance coverage for…

FHA mortgage insurance rates to be slashed in 2 weeks

January 13, 2015January 11, 2015 Julie Campbell

homeowners mortgage insurance credit score

As of January 26, premiums on a loan from the Federal Housing Administration could be cheaper. The Federal Housing Administration has now released the details of its intentions to lower the premiums on mortgage insurance, in an announcement that followed closely on the heels of the unveiling of President Barack Obama’s intentions to give the first time home purchasing market a boost. There will be considerable reductions in the insurance rates that will be charged on FHA-insured loans. For instance, when it comes to 30 year mortgages that have been…

Mortgage insurance to be underwritten less often by CMHC

May 9, 2014May 6, 2014 G. Turner

This federal housing agency in Canada has made the announcements as added restrictions are made. Canada’s federal housing authority has now officially announced that it will be underwriting a smaller amount of mortgage insurance, as of this year, as the government has increased the restrictions that apply to the type of coverage that is available. This move is designed to help to maintain the current healthy level of the Canadian housing market. The Canada Mortgage and Housing Corporation (CMHC) first made this announcement on Monday. As was already reported by…

Insurance fraud rapidly growing among mortgage policies

April 11, 2013April 30, 2013

The rate of fraudulent cases has been rising very quickly, to the point of doubling in five years. The latest report based on Experian data has revealed that the rate of mortgage and insurance fraud has risen to 38 cases out of every 10,000 applications as of last year in the United Kingdom. This is over double the rate of the fraudulent claims that was recorded in 2007. The insurance fraud has been rapidly increasing since the start of the economic downturn and the credit crunch that was associated with…

Insurance news investigation includes accusations of kickback scheme

April 9, 2013April 8, 2013 H. Cutner

These allegations are appearing in the mortgage coverage sector and are being investigated by federal regulators. The latest insurance news has revealed that federal regulators have started a massive investigation into allegations of a mortgage coverage kickback scheme that has driven costs for homeowners skywards for nearly two decades. The first action in the investigation has been conducted around a bank and lender kickback scheme. The Consumer Financial Protection Bureau announced the first insurance news that showed that the investigation is focused specifically at a scheme where lenders and banks…