Insurance

The announcement came after several major insurer said they would stop issuing new homeowner policies or renewing existing ones because California's current rules made it too costly to cover homes.

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 company, which is a large investor in mortgage servicing rights, hired a former MetLife executive it previously worked with to oversee the business line.

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 first and fourth-largest home insurers in the Golden State won't issue new policies because of rising construction costs and exposure to catastrophes.

Homebuilders are among plaintiffs seeking a halt to the Federal Emergency Management Agency's overhaul.

The vendor said it'll be providing "staff augmentation" supported by a cloud-based system and data it has.

New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.

State Farm General Insurance Co. said it's no longer accepting new applications for property and casualty coverage in California last week, a year after Allstate Corp. also paused new policies, worsening what FAIR Plan, a state-mandated insurance pool, called a "looming insurance unavailability crisis." 

Mortgage lender's brokerage spinoff launches with more than 50 carriers.

Two professionals who advise servicers on compliance name their key areas of concern.

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

The company, one of the nation's top title underwriters, doesn't admit nor deny the officials' findings and will affirm its compliance with the agreement for 10 years.

The change, effective Dec. 21, is being put into place two years after it was first proposed.

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.

The difficult job of rebuilding communities pummeled by Hurricane Ian is expected to be made even worse by a problem that's lingered since the early days of the pandemic: snarled supply chains.

Speaking with the consumer regarding the proper amount and type of insurance needed is the best way for lenders and servicers to mitigate the likelihood of default.

While commercial investors have begun to recognize the importance of anticipating extreme weather events in their business strategies, companies involved in residential transactions lag behind.