Insurance

To avoid a crisis similar to in 2008, protection needs to be in place for the mortgage industry. Soon, flood insurance will need to be standard for almost all coastal areas, which will be a considerable cost, writes the CEO of Repair Pricer.

The federal government Friday rolls out a flood-insurance program revamped to reflect worsening climate change, a program that will raise rates for millions of homeowners in wealthy coastal areas and humble inland communities alike.

The company has seen business ramp up as servicers have sought additional help managing escrowed funds following last year’s refi boom.

A congressional hearing on reforming the National Flood Insurance Program focused on whether mortgage companies need to disclose incremental risks even if a homeowner lives outside a federally designated floodplain.

Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A congressional panel meeting to discuss the issue was once again split between lawmakers from storm-threatened states and those concerned about government costs.

If enacted, the rule will bring the agency into compliance with the GSEs and the Biggert-Waters Flood Insurance Reform Act.

This deal comes a little more than two months after CIS combined with Avantus.

The Buffalo, N.Y., bank will pay a $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs.

Columbus, Ohio, has nearly triple the number of properties at risk of flooding than are currently reflected on federal flood-plain maps, according to a new modeling tool.

County homeowners may be eligible for federal assistance in the form of low-interest loans rather than grants.

Florida's first-ever — and short-lived — climate change czar set a clear priority for the state: Protect the real estate market.

In Miami Beach's bitter battle over raising roads to keep communities dry in the face of sea level rise, it's all about property value.

Citibank is on the hook for just under $18 million in flood insurance violations, according to the Office of the Comptroller of the Currency.

Taylor Morrison Home Corp. has agreed to buy William Lyon Homes in a deal that would combine the two companies' in-house mortgage divisions and make the resulting entity the fifth-largest U.S. homebuilder.

A group of 64 House lawmakers is pushing congressional leadership to incorporate premium caps and address a new methodology for assessing risk in flood insurance reform legislation.

Florida courts have held that a home seller must disclose anything about the property that could have a "substantial impact" on its value, but it's unclear if that ruling could apply or has ever been applied to flood hazards.

As the climate crisis worsens, more Americans will be forced from their homes. Many won't be able to afford it, and the U.S. isn't prepared for a massive, government-subsidized migration away from flood-prone areas.

Lori Rittel is stuck in her Florida Keys home, living in the wreckage left by Hurricane Irma two years ago, unable to rebuild or repair. Now her best hope for escape is to sell the little white bungalow to the government to knock down.

Wisconsin Republican Sean Duffy routinely pushed to restructure the Consumer Financial Protection Bureau and authored a bill to reform the flood insurance program.

After two disastrous fire seasons, California officials have been besieged by homeowners in fire-prone areas complaining that their insurance premiums are skyrocketing or their plans are suddenly being dropped.