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News:Latest InformationImportant News For WNC Clients
NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES
SIXTH AMENDED ORDER REGARDING SUSPENSION OF CERTAIN INSURANCE AND BANKING LAW PROVISIONS WHEREAS, the Superintendent of Financial Services ("Superintendent") on November 3, 2012, entered an Order Regarding Suspension Of Certain Insurance And Banking Law Provisions that was effective October 26, 2012; and [click here for more] NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES
AMENDED ORDER REGARDING SUSPENSION OF CERTAIN INSURANCE AND BANKING LAW PROVISIONS WHEREAS, in anticipation of extensive power outages, loss of life and property, and ongoing harm to public health and safety expected to result from then-Hurricane Sandy, Andrew M. Cuomo, Governor of the State of New York, issued Executive Order 47 on October 26, 2012, declaring a State of Disaster Emergency for all 62 counties within the State of New York; and [click here for more]
March 16, 2012 FEMA MEMORANDUM FOR: Write Your Own (WYO) Company Principal Coordinators National Flood Insurance Program (NFIP) Servicing Agent SUBJECT: Non-Federal Flood Insurance Policies - FEMA recently provided clarification of our position regarding non-Federal flood insurance and how such insurance policies should be evaluated by lending institutions. [click here for more] WNC Insurance Services, Inc.’s 2011 Comment to the Interagency Questions and Answers, Question Numbers 60 and 62 – Read the full text of the official comment from WNC Insurance Services, Inc. to the Federal Agencies Flood Q & A, Questions 60 and 62. [click here for more] Federal Register, Vol. 76, No. 200, Monday, October 17, 2011, Loans In Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance – Read the official text of the Federal Agencies Flood Q & A. The Agencies invite public comment on the changed answers to Questions 60 and 62, and on the changed answer to Question 57. [click here for more] WNC Insurance Holdings Corp. Completes Strategic Investment Kiln buys 49 per cent stake in US-based WNC Holdings Kiln, the specialist international insurance and reinsurance underwriting group, today announced that it has bought a 49 per cent share in WNC Holdings – a market leading provider of specialty insurance products and services to US-based financial institutions and their customers.
[click here for more] NOAA Expects Busy Atlantic Hurricane Season May 27, 2010 An “active to extremely active” hurricane season is expected for the By: Jordan N. Gray, Esq., SVP Compliance and Legal Affairs As I write this, the NFIP Reauthorization time clock is ticking away in Congress. If you will recall, on April 15, 2010, a bill extending the NFIP through May 31, 2010, was passed by Congress and then signed into law by the President on the following day.
The NFIP Has Lapsed – So Now What? As many of our clients know, the authority of the Federal Emergency Management Agency (FEMA) to issue flood insurance contracts under the National Flood Insurance Program (NFIP) lapsed at midnight on March 28, 2010. In an effort to maintain an orderly process, at least two of the six federal lending regulators have each issued “Informal Guidance” on the subject – the Office of Thrift Supervision (OTS) and the Federal Reserve System (Fed). So now what? [click here for more] March 29, 2010 Federal Reserve Board: Consumer Affairs Letter CA 10 - 3 TO: THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS SUBJECT: Lapse of FEMA's Authority to Issue Flood Insurance Contracts - The authority of the Federal Emergency Management Agency (FEMA) to issue flood insurance contracts under the National Flood Insurance Program (NFIP) lapsed at midnight on March 28, 2010. The attached informal guidance provides information on issues that may arise during a period of lapsed authorization for lenders and borrowers concerning loans that are or will be secured by property located in a Special Flood Hazard Area. March 29, 2010 FEMA MEMORANDUM FOR: Write Your Own Company Principal Coordinators and the National Flood Insurance Program Servicing Agent SUBJECT: Lapse in NFIP Authority - While we await legislative action to reauthorize the NFIP, the attached Frequently Asked Questions may be useful to you. Two versions are provided: (a) a consumer-oriented version, and, (b) a more technical version. March 4, 2010 OFFICE OF THRIFT SUPERVISION MEMORANDUM FOR: Chief Executive Officers SUBJECT: Lapse and Extension of FEMA Authority to Issue Flood Insurance Contracts - This memorandum provides guidance to assist thrifts in dealing with the period during which the authority of the Federal Emergency Management Agency (“FEMA”) to issue flood insurance contracts under the National Flood Insurance Program (the “NFIP”) lapsed (March 1-2, 2010). October 27, 2009 FEMA MEMORANDUM FOR: Write Your Own Company Principal Coordinators and the National Flood Insurance Program Servicing Agent SUBJECT: Recommendations/Guidance for Possible NFIP Authority Lapse and Hiatus - As Congress continues passing resolutions for short-term extensions of the National Flood Insurance Program (NFIP), the possibility of an NFIP authority lapse remains. FEDERAL AGENCIES FLOOD Q & A: CHANGE IN POLICY? The Agencies Flood Q & A is “Informal Guidance”. On September 16, 2009, WNC filed its official comment on the Federal Agencies’ Flood Q & A. For those who don’t know, the buzz is over the latest proposed Supplemental Questions and Answers issued by the six federal lending regulators – the Office of the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the Farm Credit Administration and the National Credit Union Administration. [click here for more] WNC Insurance Services, Inc.’s 2009 Comment to the Interagency Questions and Answers, Question Numbers 60 and 62 – Read the full text of the official comment from WNC Insurance Services, Inc. to the Federal Agencies Flood Q & A, Questions 60 and 62. [click here for more] WNC’s REOSelect ™ for Foreclosed Real Estate Well Received by Mortgage Industry South Pasadena, CA – August 24, 2009 – Since its official launch in May this year, WNC Insurance Services, Inc. has seen positive acceptance of its REOSelect™ product – especially created to help protect a mortgage lender or servicer’s foreclosed and Real Estate Owned (REO) properties. [click here for more] Federal Register, Vol. 74, No. 138, Tuesday, July 21, 2009, Loans In Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance – Read the official text of the Federal Agencies Flood Q & A. Find Question 62, regarding the 45 Day notice, on page 35934. [click here for more] Confused On Lender 45-day Flood Notice Requirements? You’re not alone. WNC often receives inquiries regarding flood lender placement process. Following are three of the most common questions, and our responses: [click here for more] In December 2008, the Federal Emergency Management Agency (FEMA) revised its Flood Insurance Rate Maps (FIRMs) for five communities located in Northern California. [click here for more] National Insurance Regulation On The Horizon?
Just days after the official close of the busiest Atlantic hurricane season on record and with one hurricane still churning in the Atlantic, the first 2007 forecast is out already. To the surprise of no one it predicts an active season.
There's some modestly good news, however. [click here for more] WNC First Relocates to New Corporate Home September 2003 [click here for more] |
