Dimont reported Monday that FHA hazard claims processing had jumped 76% year-over-year.
The Dallas-based hazard claims insurance processor attributed the increase to growing demand among mortgage lenders. Fueling this demand is the need for funds to help bring properties to conveyance condition.
The Federal Housing Administration only takes back properties once they have reached conveyance condition. This means that they are completely repaired, secured and winterized.
"Hazard claims processing is extremely important to our clients because it provides them with the resources they need to restore properties into conveyance condition," said Collin Harbour, director of business development at Dimont, in an Oct. 5 news release.
