Alerts & Bulletins:

 

Latest Information


Important News for WNCFirst Clients
 



April 17, 2014

Heartbleed Exploit
 
There have been many questions to service providers relating to the recent Heartbleed bug virus which exposed a security flaw in certain types of web site security certificates which can expose those sites to malicious code. Our Cisco and Internet published servers are not impacted by the OpenSSL Heartbleed security flaw. We’ve thoroughly tested all of our internet facing sites and they are not vulnerable to the Heartbleed attack. Our Beyond Security AVDS security scanner and Qualys SSL Labs tests shows none of our services are vulnerable to this security flaw.

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Federal Register, Vol. 78, No. 210, Wednesday, October 30, 2013, Loans in Areas Having Special Flood Hazards – SUMMARY: The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), the Farm Credit Administration (FCA), and the National Credit Union Administration (NCUA)collectively, the Agencies) are proposing to amend their regulations regarding loans in areas having special flood hazards to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012.
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CFPB Final Rule on Mortgage Servicing

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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
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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

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.
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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.
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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.
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FLOOD INSURANCE: 
NFIP Reauthorization Update - And By The Way—Isn’t the Power to Contract Enough?

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.
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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.

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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.

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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.
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National Insurance Regulation On The Horizon?

The Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises of the House Committee on Financial Services recently held a mark-up session on HR 5840 – the Insurance Information Act of 2008.