TITLE

Banks Face Setback as FHFA Bans Force-Placed Commissions

AUTHOR(S)
Horwitz, Jeff
PUB. DATE
March 2013
SOURCE
American Banker;3/27/2013, Vol. 178 Issue 47, p18
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the U.S. Federal Housing Finance Agency (FHFA's) proposal to ban force-placed insurance commissions on loans owned or insured by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The article notes the cost of force-placed insurance premiums are passed on to investors and homeowners. It also notes the FHFA had previously blocked Fannie Mae's proposed plan to lower force-placed costs and ban commissions.
ACCESSION #
86435661

 

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