Servicing

Cost of property coverage rose more than 55% over the last five years and it'll likely keep rising through 2024, a report from Guaranteed Rate found.

More borrowers are taking action but lack good information, Fannie Mae finds. Meanwhile, premiums are up yet insurers struggle to profit, a separate KBRA study shows.

The market could find out next year how well foreclosure prevention innovations and home equity protect borrowers from growing strains on affordability.

Since 2019, distressed loans have increased 77%, but it is just a small portion of the $691 billion currently outstanding.

The power to quickly ingest and analyze large loads of data has become more critical to many businesses that require quick turnarounds in their decision making, technology leaders said.

Reeling from four hurricanes in 2020 and 2021 that caused $23 billion in damage, the state is undergoing an insurance calamity that is harming its economy and even reducing its population.

The storm is slamming housing markets already beset by some of the nation's highest property insurance premiums.

The growth in market share comes as the national insurance program has instituted a risk-based pricing regime that's led to some fluctuation in rates.

Major firms cite costly devastating hurricanes and widespread litigation against the industry as reasons to sunset policies for an unspecified number of property owners.

The government-sponsored enterprise's chief executive managing the issue is looking at how things like roof pitch can mitigate the impact of natural disasters on homes.

The technology can mitigate project risk at job sites.

The Homeowner Flood Insurance Transparency and Protection Act would temporarily give consumers with higher rates the option to revert to previous lower pricing.

Lenders have focused on front-end cost differences since key secondary market players opened up the option, but what happens when a problem emerges down the road is worth weighing too.

Claims from a more recent storm that caused some overlapping property damage are also mounting, according to the Federal Emergency Management Agency.

The tool, which includes overlays for industry metrics like delinquencies, could be helpful to policymakers trying to size up the cost of natural disasters affecting properties.

The new product will be based on a recent revision to the Department of Veterans Affairs' handbook for lenders, according to the company.

Plans rolled out by a United Wholesale Mortgage and by Fannie Mae and Freddie Mac could cut costs, but the American Land Title Association warns that the tradeoff is less protection from certain risks.

Wind and storm surge damage to residential and commercial properties could reach $47 billion, according to a CoreLogic analysis.

A piece of legislation cleared the House this week that would allow for so-called "desktop appraisals" on properties financed by government-backed veteran loans.

Current actuarial techniques are good at quantifying in the aggregate – but less so in the detail.