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Press Release

For Immediate Release: March 26, 2013

STATEMENT FROM GOVERNOR ANDREW M. CUOMO ON THE FEDERAL HOUSING FINANCE AGENCY'S PROPOSAL ON FORCED-PLACED INSURANCE REFORM

"New York's reforms and the findings of the extensive investigation by the Department of Financial Services continue to serve as a national model and FHFA's new proposal appears to be another step in that direction."

For additional information on Governor Cuomo's announcement last week that a New York State Department of Financial Services investigation produced a major settlement with the country’s largest “force-placed” insurer, Assurant, Inc., which included industry-leading reforms that will save homeowners, taxpayers, and investors millions of dollars going forward through lower rates, please visit: http://www.dfs.ny.gov/about/press2013/pr1303211.htm.

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