The Federal Housing Finance Agency has no interest in revisiting a program that Fannie Mae spent a year developing to directly purchase force-placed insurance even as it solicited input last week from “stakeholders” during a two-day, closed-door working group. The invitation-only meeting, closed to the public and press, drew some 80 attendees representing big banks, insurers, insurance brokers, other regulators and representatives of industry and consumer groups who weighed in as the Finance Agency decides its policy direction on force-placed or lender-placed insurance. According to those in attendance at the meeting, the FHFA officials were cordial but the agenda was strictly focused on concerns that force-placed premiums might be too high and that the industry lacks serious competition.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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