Lender-Placed or Force-Placed Insurance on Home Mortgages: Overview and Oversight Issues


Debra Lambert (Editor)

Series: Housing Issues, Laws and Programs
BISAC: BUS054030

Mortgage servicers use lender-placed insurance (LPI) to protect the collateral on mortgages when borrower-purchased homeowners or flood insurance coverage lapses. The 2007-2009 financial crisis resulted in an increased prevalence of LPI. Because LPI premiums are generally higher than those for borrower-purchased coverage, state insurance regulators and consumer groups have raised concerns about costs to consumers. This book addresses the extent to which LPI is used; stakeholder views on the cost of LPI; and state and federal oversight of LPI. Furthermore, this book evaluates the financial impact of the LPI market upon Fannie Mae and Freddie Mac (collectively, the Enterprises); and determines whether the Federal Housing Finance Agency (FHFA), in its role as the Enterprises’ conservator, should undertake additional LPI-related actions.
(Imprint: Novinka)

Table of Contents

Table of Contents


Chapter 1. Lender-Placed Insurance: More Robust Data Could Improve Oversight
United States Government Accountability Office

Chapter 2. FHFA’s Oversight of the Enterprises’ Lender-Placed Insurance Costs
Federal Housing Finance Agency, Office of Inspector General


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