Mortgages

Lenders need to look at both data and algorithms to avoid inadvertent redlining complaints, not just in decision making but customer contact too.

There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.

At the same time, market share among a trio of the mortgage insurers shifted, data compiled by Keefe, Bruyette & Woods found.

The Biden Administration's title waiver pilot has started a broader discussion on whether the product is worth the money paid or even needed at all and can be replaced by an alternative.

"Lax regulation and monitoring of property insurers makes Florida mortgage markets far more exposed to climate risk than people might think," said Parinitha Sastry, an author of a working paper by researchers at Harvard University, Columbia University and the Federal Reserve.

Unintended consequences of shifting the burden for title insurance to the lender could end up harming consumers, several observers said.

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.

The American Land Title Association, which represents the title insurance industry, argued that the program would not cut costs for those who really needed it.

The volume of active for-sale condo listings in the Sunshine State increased by 40% last month compared to a year earlier, Redfin said.

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.

This business, tied to the mortgage origination outlook, is becoming ly attractive for 2024, according to BTIG.

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

The digital lender's product comes amid soaring expenses for homeowner's coverage.

Lenders could gain efficiencies from advances in artificial intelligence as the related development of alternative data potentially opens up the market to more borrowers, but hurdles exist.

A combination of economic and environmental factors are sending property and flood coverage premiums soaring, which can make costs insurmountable for some.

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

The large companies are facing macroeconomic pressures because of high mortgage rates, Fitch said, but the American Land Title Association noted the industry's strong financial position.

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.