Most mortgages contain a requirement that the collateral property carry adequate insurance to cover repayment of the mortgage in the event of a loss. However, Edward Martinez, a technical trainer in CoreLogic's Insurance & Spatial Solutions department, writes in the company's Insights blog that what satisfies a lender may not be the best solution for the homeowner. The required insurance, generally called homeowner's insurance, is a package policy that covers both damage to property and legal liability for any injuries or property damage a homeowner, family members, or household pets may cause to other people. Martinez explains that there are eight levels of homeowner insurance . The most basic is HO-1 which covers only specific named perils; HO-8 is designed for older homes and usually

February 16, 2017 Download our Mobile App: Download our Mobile App: Housing News Do You Have the Right Homeowners' Insurance? Most mortgages contain a requirement that the collateral property carry adequate insurance to cover repayment of the mortgage in the event of a loss. However, Edward Martinez, a technical trainer in CoreLogic's Insurance & Spatial Solutions depar... (read more) Rob Chrisman Merger Mania: PHH, G-Rate, LenderLive and More; FHA/VA Changes Bank of America has opened 3 completely automated branches without any employees. Customers can use ATMs or have video conferences with employees at other branches, and the branches are about 25% the size of a normal branch. Bank of America indicates... (read more) Mortgage Rate Watch Mortgage Rates Approach 3-Week Highs Mortgage rates rose for the 5th day in a row following a higher reading in this morning's inflation data and an upbeat Retail Sales report. In general, stronger economic data and higher inflation motivate investors to move money out of the bond marke... (read more) Housing News Building Permits Approaching Post-Meltdown Highs Results from this morning's residential construction report from the U.S. Census Bureau and the Department of Housing and Urban Development were mixed . Construction permits made a strong showing while housing starts were down, continuing the see-saw... (read more) MBS Commentary MBS Live Day Ahead: Longer-Term Bonds Trying to Resist Today begins with another glut of economic data at 8:30am, although it's fairly tame compared to yesterday's CPI/Retail Sales duo.  Housing Starts are expected to come in at 1.222 mln after last month's 1.226 mln reading.  The analogous nu... (read more) MBS Commentary MBS Live Recap: Trend Remains Unfriendly, but Bonds Find Support When it comes to the most simplistic charts of bond market trends, there are two "bad things" that rates could do in the current context.   One of the two bad things happened today.  10yr yields broke above the upper boundary of the consol... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.02% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.02% +0.01 0.00 15 Yr. Fixed 6.37% 0.00 0.00 30 Yr. FHA 6.30% -0.02 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.99% +0.04 0.00 30 Yr. VA 6.32% -0.02 0.00 Updates Daily - Last Update: 11/14 15 Yr. Fixed Rate 6.37% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.01 0.00 15 Yr. Fixed 5.99% -0.01 0.00 Updates Weekly - Last Update: 11/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 98.86 -0.07 Price / Yield Change MBS UMBS 5.5 98.82 -0.11 UMBS 6.0 100.48 -0.09 GNMA 5.5 99.45 -0.11 GNMA 6.0 100.62 -0.09 Pricing as of: 11/14 9:41PM EST 10 Year US Treasury 4.4473 +0.0085 Price / Yield Change US Treasury 2 YR Treasury 4.361 +0.011 5 YR Treasury 4.345 +0.019 7 YR Treasury 4.405 +0.018 10 YR Treasury 4.460 +0.021 30 YR Treasury 4.606 +0.023 Pricing as of: 11/14 9:41PM EST Latest Video Housing starts down 2.6% in January Volatility hits 55-year low NY Fed: US household debt at highest level since 2008 Around the Web Freddie Mac Mortgage Rates Continue Holding Pattern Calculated Risk Blog Comments on January Housing Starts Bloomberg ECB Willing to Bend Its QE Rules in Push to Keep Up Stimulus NAHB Eye on Housing Housing Affordability Remains Favorable Even as it Hits an Eight-Year Low CNBC NY Fed: US household debt at highest level since 2008 Market Watch Fed's Lockhart says Yellen kept March meeting live for interest-rate hike Reuters JPMorgan moving mortgages online to please paper-weary customers CNBC 'March is a done deal' for the Fed's next rate hike, Peter Boockvar says Redfin Home Prices and Sales Showed Steady Growth in January While Inventory Continued to Decline Freddie Mac Freddie Mac Reports Fourth Quarter and Full-Year 2016 Financial Results builderonline.com Financing Options Increase for Home Flippers Reuters Fed accommodative and moving on right path, Fischer says: Bloomberg CNBC Trump Reversal of Dodd Frank Could Trigger Massive Treasury Selling

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