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Insurance, Mortgage, and Annuity News:

  • State Web site aims to simplify insurance shopping  In the market for home or auto insurance? The Texas Department of Insurance on Thursday launched a revamped Web site that could better help you pick a policy.
  • FHA raises mortgage insurance fee to 1.75%  Borrowers who take out government-insured mortgages will have to pay higher fees under new rules announced this week. Effective Oct. 1, the Federal Housing Administration will raise its mortgage insurance fee to 1.75 percent for a new mortgages and many...
  • Insurance companies "on-call," prepare for Gustav  As Tropical Storm Gustav spun toward the Gulf of Mexico Thursday, insurance companies were ready to send adjusters and appraisers to assess damage from the storm if it does make landfall in the United States.
  • Insurance officials set for Gustav  After the experience of dealing with Hurricane Katrina, the Louisiana Department of Insurance and insurance companies say they're ready to handle Gustav.
  • Insurance Dept. prepares for storm  BATON ROUGE -- The Louisiana Department of Insurance is ready to activate a consumer affairs call center and an emergency process to bring in large numbers of claims adjusters if warranted by the impact of Gustav, Commissioner Jim Donelon said Thursday.
  • Fixed Annuity Sales Reach a Six-Year High—Beacon Research  With an estimated $24.6 billion in premiums, U.S. sales of fixed annuities soared to their highest levels since 2003 in the second quarter of 2008, according to a Beacon Research Fixed Annuity Premium Study based on sales of more than 400 products by 50 insurance companies representing almost 90% of the market.
  • Update Your Variable Annuity With Section 1035  Thanks to a special tax code clause, you can surrender a variable annuity without paying income tax.
  • Update Your Variable Annuity With Section 1035  Do you own a variable annuity ? You may have thought about surrendering it because of poor performance, or because you found another investment that looks better. But before you cash in your contract, let's take a close look at what that move could cost you.
  • Fitch Affirms Teachers Insurance & Annuity at 'AAA'  Fitch Ratings has affirmed the ratings of Teachers Insurance and Annuity Association TIAA and its wholly owned subsidiaries, TIAA-CREF Life Insurance Company TIAA-CREF Life, and TIAA Global Markets, Inc. as listed below. The Rating Outlook for all ratings is Stable.
  • Penn Mutual Introduces New Variable Universal Life and Annuity Products for Today's Consumer Needs  The Penn Mutual Life Insurance Company announces the introduction of Diversified GrowthSM VUL, its new variable universal life product VUL designed to maximize accumulation potential and ensure protection from significant financial risk, key considerations in today's economy. Additionally, Penn Mutual has strengthened its current variable annuity products with new and enhanced optional ...
  • U.S. Mortgage Meltdown Slams Bank Of China  Bank of China was the most vulnerable of its peers, thanks to the U.S. subprime mortgage crisis.
  • FHA raises mortgage insurance fee to 1.75%  Borrowers who take out government-insured mortgages will have to pay higher fees under new rules announced this week. Effective Oct. 1, the Federal Housing Administration will raise its mortgage insurance fee to 1.75 percent for a new mortgages and many...
  • Darling, Flint May Announce U.K. `Mortgage Rescue,' Times Says  Aug. 29 -- Chancellor of the Exchequer Alistair Darling and Housing Minister Caroline Flint are proposing next week to announce emergency measures for the U.K. mortgage market, the London-based Times reported, without saying where it got the information.
  • Discrimination Suit Against Subprime Mortgage Lender Remanded to State Court  Subprime mortgage lender Option One Mortgage Corp. and former parent company H&R Block will face a groundbreaking discrimination case over its lending practices to blacks and Latinos in Massachusetts state court instead of its preferred venue, federal court. The Massachusetts attorney general's office filed the lawsuit against Option and H&R Block for allegedly selling predatory loan products to ...
  • FHA mortgage insurance fee will increase to 1.75 percent  WASHINGTON Borrowers who take out government-insured mortgages will have to pay higher fees under new rules announced this week. Effective Oct. 1, the Federal Housing Administration will raise its mortgage insurance fee to 1.75 percent for a new mortgages and many refinanced loans. That's up from 1.5 percent. For a borrower with a $200,000 loan, that means a fee of $3,500, up from $3,000 in the ...
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