The House Financial Services Committee agreed to make key changes to flood insurance reform legislation clearing the way for industry groups to endorse the bill. The committee’s most recent draft includes provisions that would retain “grandfathering,” a policy that protects policyholders from significant rate increases when the Federal Emergency Management Agency periodically revises its flood maps, and allow federal flood insurance coverage of new homes built in 100-year floodplains. The committee also proposes...
Only two lenders have consistently provided more than 5.0 percent of the dollar volume in jumbo MBS Redwood has issued this year: First Republic Bank and Quicken Loans.
The U.S. House of Representatives is scheduled to vote Tuesday afternoon on whether to overturn the Consumer Financial Protection Bureau’s controversial arbitration rule.