state_legiscan_drain · NY
Relates to mortgage guaranty insurance; allows for withdrawals from the contingency reserve if the superintendent determines that such withdrawals will not be harmful to policy holders.
February 20, 2025
Summary
If enacted, this bill would allow mortgage guaranty insurers in New York to withdraw funds from their contingency reserves upon superintendent determination that such withdrawals are not harmful to policyholders. This could increase insurer liquidity and potentially affect premiums or risk capacity, indirectly impacting lenders who rely on mortgage insurance for high-LTV loans.
Source: https://www.nysenate.gov/legislation/bills/2025/S5311
Common questions
- What does "Relates to mortgage guaranty insurance; allows for withdrawals from the contingency reserve if the superintendent determines that such withdrawals will not be harmful to policy holders." cover?
- If enacted, this bill would allow mortgage guaranty insurers in New York to withdraw funds from their contingency reserves upon superintendent…
- When was it published?
- It was published on February 20, 2025.
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