Archives

WASHINGTON, D.C. - February 18, 2013 - (RealEstateRama) -- There could be a disaster ahead for insurance consumers or not. Should they count on their insurance? They can, according to consumer advocate Antone P. Braga. "Most people think they are financially prepared for a disaster simply because they carry insurance.

WASHINGTON - February 14, 2013 - (RealEstateRama) -- Financial Services Committee Chairman Jeb Hensarling released the following statement today after the Government Accountability Office (GAO) added the Federal Housing Administration (FHA) to its list of government programs identified as “high risk due to their greater vulnerability to fraud, waste, abuse and mismanagement or the need for transformation”.

WASHINGTON, D.C. - February 13, 2013 - (RealEstateRama) -- Advocates at the Consumer Federation of America, the National Consumer Law Center, the Center for Economic Justice, Consumer Watchdog, the Neighborhood Economic Development Advocacy Project and the Center for Responsible Lending strongly oppose the decision of the Federal Housing Finance Agency (FHFA) – the federal regulator that oversees Fannie Mae and Freddie Mac – to halt Fannie Mae’s recent efforts to reduce the cost of force-placed insurance (FPI) for taxpayers and borrowers by over $1 billion a year

WASHINGTON, D.C. - February 12, 2013 - (RealEstateRama) -- The Federal Housing Administration (FHA) has announced new regulations which go into effect on April 1, 2013. These regulations were developed to provide additional revenues for the insurance fund (making more moneys available for any future housing" bubble") and to add additional underwriting standards for specific insured loans (see below).

WASHINGTON, D.C. - February 5, 2013 - (RealEstateRama) -- A torched office building injures seven firefighters; a nose doctor buys a yacht with insurance money from damaging and worthless surgeries; cohorts cut off a mentally disabled man’s hand for an insurance payout.

WASHINGTON, D.C. - January 24, 2013 - (RealEstateRama) -- With a mild winter, relatively warmer weather in general, and drought conditions expected to continue in 2013, the Insurance Institute for Business & Home Safety (IBHS) urges home and business owners to take action now to effectively reduce their wildfire risk

Washington, DC - January 17, 2012 - (RealEstateRama) -- Rep. Louie Gohmert (TX-01) released the following statement today concerning President Obama’s sweeping gun proposals which include banning the sale of certain guns and preventing the ability of...

TRENTON, N.J. - January 14, 2012 - (RealEstateRama) -- If your house is not livable and you have insurance, the Federal Emergency Management Agency may be able to provide temporary housing or rent under certain circumstances

New York, NY - January 14, 2012 - (RealEstateRama) -- In the wake of the devastating and unprecedented damage caused by Superstorm Sandy, Assembly Speaker Sheldon Silver (D-Manhattan) today announced a bill (A-2287)) to create the Homeowners Bill of Ri...

LAKELAND, FL - January 11, 2012 - (RealEstateRama) -- U.S. Rep. Dennis Ross (FL-15) will introduce the Homeowners’ Insurance Protection Act next week. This bill will create a federal catastrophe reinsurance program to back up federal reinsurance prog...

TRENTON, N.J. - January 11, 2012 - (RealEstateRama) -- Renters who need to repair or replace essential items lost in Hurricane Sandy can get help from the Small Business Administration.

Washington, D.C. - January 08, 2012 - (RealEstateRama) -- Congresswoman Virginia Foxx, R-NC, today issued the following statement regarding her vote against H.R. 41, legislation that would increase federal deficit spending by granting additional borro...

December 21, 2012 - (RealEstateRama) -- Washington County flood insurance questions will be addressed at five public meetings in Waterbury, Barre City, Northfield, Marshfield, and Montpelier. The meetings will focus on newly revised flood hazard maps a...

Albany, NY - December 12, 2012 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that major banks and mortgage servicers will take action to expedite insurance payments to New York homeowners. Currently, insurance claim checks must be endo...

WASHINGTON, DC - December 12, 2012 - (RealEstateRama) -- The cost to insure apartments increased by 9.5 percent between 2011 and 2012, marking the second consecutive year of rising insurance expenditures according to the National Multi Housing Council’s (NMHC) Apartment Cost of Risk Survey (ACORS). The survey covers data from more than one million apartment units, the largest number of units covered by the survey to date, operated by 55 apartment firms, tracking three principal components of insurance premiums: property, general liability and workers’ compensation. The 9.5 percent increase in 2012 came entirely from property risk costs, with general liability and workers’ compensation costs staying virtually unchanged from 2011.

Washington, D.C. - December 10, 2012 - (RealEstateRama) -- Reviewing a homeowners’ insurance policy can be challenging, but with more insurers inserting provisions to shift risk and costs to homeowners, a careful read is more important than ever. To help with the process, the Consumer Federation of America (CFA) and United Policyholders (UP) released a list of the top seven things that all homeowners should know about their policies.

WASHINGTON, D.C. - December 6, 2012 - (RealEstateRama) -- Delinquency rates decreased for commercial and multifamily mortgage loans in the third quarter, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.

New York, NY - December 3, 2012 - (RealEstateRama) -- “With winter at hand, we’re intensifying our efforts to help all the New Yorkers still suffering from Hurricane Sandy. Last week, we took new steps to protect thousands of New Yorkers who still ...

WASHINGTON, D.C. - November 30, 2012 - (RealEstateRama) -- Today, Congresswoman Doris Matsui (D-CA) introduced legislation to help homeowners who live in FEMA Special Flood Hazard Areas and whose homes have sustained major damage from a fire or other u...

Washington D.C. - November 30, 2012 - (RealEstateRama) -- In response to Governor Cuomo’s request for strategies to ensure that the State of New York is resilient in the face of future natural disasters, the Consumer Federation of America (CFA) called for state regulators to immediately identify coverage gaps that could result in consumer frustration and to adopt policies that clarify coverage and prevent unjustified denial of claims.