Foreclosure filings fell 5 percent in the first half of the year but still exceed the first six months of 2009 by 8 percent, according to figures released today by RealtyTrac. One in 78 homeowners received a foreclosure notice in the first half.
Posted via email from Title Insurance Fitch Ratings’ 2009 U.S. title insurance industry’s risk-adjusted capital (RAC) ratio of Posted via email from Title Insurance Insurance Networking News, July 2, 2010
While passing a bill that would create a consumer protection agency has proved challenging enough, that task may pale in comparison to actually setting up the new regulator. The regulatory reform bill lays out an ambitious agenda for the Consumer Financial Protection Bureau, including quickly detailing the scope of its powers and harmonizing regulations that implement two of the most complex lending laws on the books. But the legislation largely leaves the new regulator on its own for how to accomplish those goals in addition to hiring needed personnel and getting itself up and running. “While Congress has laid out the structure, it’s going to take a long time and be very complicated to translate the concept into something that works,” said Andrew Sandler, a partner at Buckley Sandler LLP. Under the final bill, which was approved by the House this week but must still be passed by the Senate, the Treasury secretary must transfer consumer protection powers to the bureau between six months to a year after enactment of the legislation, with the option to extend it to 18 months if necessary. Posted via email from Title Insurance
Continuing Ed for Title Agents
Title Insurers’ Risk-Adjusted Capital Adequacy at Year-End 2009
133% was a significant improvement over the 2008 RAC ratio of 105%. However, from a
historical perspective, 2009’s ratio is the second lowest since Fitch began calculating
the ratio in 1997. Fitch calculates the industry RAC ratio on a weighted average basis,
thus Fidelity National Financial, Inc. (Fidelity) and First American Financial Corp (First
American), whose market shares are 42% and 27%, respectively, have a great influence
on the industry ratio.
Continuing Ed for Title Agents
Bill Provides for Creation of Consumer Agency, But Little Else
Bill Provides for Creation of Consumer Agency, But Little Else
The bill lays out an ambitious agenda for consumer protection, but leaves the new regulator on its own for how to accomplish those goals in addition to getting itself up and running.
Continuing Ed for Title Agents
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