HOMEOWNERS INSURANCE – After two days of Florida Senate panel hearings, it appears some of the state’s biggest insurers used loopholes to skirt a requirement that they pass on savings from a state-backed financial safety net to homeowners.
Two Florida lawmakers this week reviewed findings of a national study from the James Madison Institute, which examined insurance markets across the nation. According to the study, insurance reforms in Florida did nothing to achieve lower premiums for policyholders, and it concluded the state could see a reduction or elimination of private insurers from the market as a result of those reforms.
MORTGAGE FRAUD – Did mortgage fraud contribute to the current housing meltdown? One study that looked at 45 subprime mortgage defaults found that two-thirds of them involved owners who lied about their intention to live in the house.
ECONOMIC STIMULUS – Groups are leaning on wavering Republicans in the U.S. Senate to support a $200 billion-plus economic aid package, set for a vote Thursday included is a provision that increases loan limits guaranteed by Fannie Mae and Freddie Mac.
Comments on this entry are closed.