Happy Wednesday! In this week's Big I Buzz, we discuss NAMIC & IIABA's response to the recent revisions to mortgage requirements, and how to get started with generative AI through Catalyit's webinar series during AI Month.

NAMIC & IIABA Submit Joint Letter to FHFA Administrator

The National Association of Mutual Insurance Companies (NAMIC) and the Independent Insurance Agents and Brokers of America (IIABA) submitted a letter regarding the property insurance impacts of the recent revisions to mortgage requirements by Fannie Mae and Freddie Mac, which were indicated as being made at the direction of the Federal Housing Finance Agency.

The letter focuses on three primary messages: 1) The urgent need to halt implementation of the new guidance while engaging a broader range of stakeholders and considering the far-reaching implications of the requirements; 2) Concerns with the across-the-board mandate that consumers secure complete replacement cost, which is not available in all instances; 3) Problems associated with the annual verification process outlined in the guidance. Read the letter here.

May is AI Month at Catalyit

May is dedicated to Artificial Intelligence (AI) at Catalyit. This month, you can learn how to incorporate Generative AI (GenAI) into your agency’s operations.

Catalyit will publish weekly articles covering a wide range of topics, from how-tos to best prectices. Additionally, you can join a four-part webinar series hosted by Steve Anderson to engage in interactive sessions. They will showcase new solutions, helping you get to know the players. Take a look at reviews, listen to the opinions of experts, and more! Learn more here.

For more news, check out the Action News section of our weekly e-newsletter, Big i Buzz. If you aren't subscribed, click here to add your email to our emailing list.