FHFA's New Aim At Lender-Placed Insurance

Law360, New York (June 12, 2013, 12:43 PM EDT) -- On March 29, 2013, the Federal Housing Finance Agency (the FHFA) proposed consideration of new regulations for lender-placed insurance. The FHFA requested public input on two issues — sales commissions and reinsurance activities. The FHFA also indicated that it plans a broader review of lender-placed insurance issues.

These FHFA actions follow insurance regulatory efforts in California and New York to impose more stringent limitations. Lender-placed insurance has long-raised regulatory and litigation concerns, and the prospect of new FHFA regulations is an important issue for lenders....
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