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The move by the government bond insurer may pave the way for waivers of late fees, forbearance, modifications and foreclosure bans as the U.S. contends with damage from recent hurricanes.

Five days after Hurricane Ian slammed into the state — bringing with it a deadly storm surge, catastrophic flooding and powerful winds — the destruction it caused is becoming clearer.

Sales of co-ops and condos dropped 3.7% in the third quarter from the previous three months and more than 18% from a year earlier, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Tuesday.

The latter company helped build a platform that served a similar purpose for a nonprofit entity during the Great Recession, and later continued to support an updated version of that technology.

Other offerings update the company's platform for hybrid and virtual closings, and allow borrowers to get an appraisal waiver pre-check before submitting a loan.

CFO Julie Booth and General Counsel Angelo Vitale will remain with the Detroit-based company in advisory roles.

While broader counterparty rules were recently reworked in consultation with the industry, questions persist regarding one subset from the government bond insurer.

Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, Black Knight Inc. said in a report Monday.

The tempering of growth is a result of mortgage rates jumping and inflation, a report found.

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