The ever-inventive finance industry has give you low-carbon indices that observe the overall market quite closely (a tracking error of 0.3% a yr) however exclude the most polluting stocks in every sector. Bank and insurer advocates dispute the contention that the trade obfuscated, but concede that Fannie has been unable to acquire particulars on its power-positioned insurance payments. When housing prices collapsed, however, tens of millions of borrowers defaulted, creating an enormous foreclosure backlog and turning force-placed insurance coverage right into a multi-billion greenback business. As guarantor of roughly 18 million house loans, it finally picks up the tab for pressure-positioned insurance when borrowers don't. Two specialty insurers — QBE and Assurant — have remodeled the drive-placed market right into a near-duopoly by locking down main financial institution clients. Insurance commissioners in California and Florida have also launched probes of the drive-placed market. Evidence of abuses and self-dealing in force-positioned insurance coverage suggests there may be far larger issues in how servicers are handling house loans than sloppy doc recording. New York's Department of Financial Services launched a probe in the fall of 2011 and held hearings on the force-placed market final May. Fannie's knowledge-gathering drawback and its value considerations stemmed from a common issue: The mortgage servicers who actually purchased the drive-positioned insurance policies weren't those paying for it.