However, the mortgage and housing industries are not happy about the potential opening of the insurance sector, noting that more realistic premium pricing could exclude some buyers. “They don’t qualify (for a loan). Imagine Joe comes on and our flood insurance quote is $2,000 and the debt ratio is 46 percent,” Kimber White, president of the National Association of Mortgage Brokers (NAMB), told mpamag.com’s Matt Sexton. “Next thing you know, it’s $6,000 and you’ve screwed up their debt ratio and their ability to qualify. So they can’t qualify.”
