Daily Dose

Fitch Ratings reports that U.S. homeowners’ insurance is poised to post a statutory underwriting loss for 2022 as insurers continue to deal with above-average catastrophe losses and uncertainty from persistently high inflation and macroeconomic volatility.

Attorneys T. Robert Finlay and Jonathan D. Fink explore a recent court ruling where a lender’s settlement agreement with its defaulting borrowers violated California’s usury laws by including a provision for interest at a higher rate than that allowed by state law.

Some 30% fewer new listings came on the market in March compared to pre-pandemic norms, meanwhile sales activity experienced a modest increase, according to Black Knight's latest Mortgage Monitor report.

As expected, the Federal Reserve raised rates again at the end of their May meeting by a quarter point—this is now the tenth-straight increase.

While annual home price growth fell to lows not seen in a decade, growth still increased for the 134th consecutive month in March 2023.

Nationwide, the average payment on a new mortgage is now $2,317 a month, according to a report from LendingTree, with monthly mortgage payments the most expensive in Hawaii, California, and Massachusetts.

The deal extension expands the usage of Sagent’s LoanServ fintech platform across Digital Federal Credit Union’s mortgage servicing lifecycle.

Ginnie Mae has published a new Memorandum announcing that it will transition all outstanding LIBOR Classes of Ginnie Mae Multiclass Securities after June 30.

First Republic Bank, with assets of $229B, was taken over by the FDIC and purchased by JPMorgan Chase.

A new Zillow survey reveals that roughly 92% of landlords reported that maintaining properties and screening renters are the biggest hassles of property management.