Insurance

Kin, a direct-to-consumer insurance provider, has started a mortgage broker in Florida which also takes loan applications through a call center or online.

A lapse in the National Flood Insurance Program because of the US government shutdown threatens to snarl home sales in the nation's riskiest floodplains and leave some homeowners without coverage in the middle of hurricane season.

The first government shutdown since 2019 will slow flood insurance originations and new Small Business Administration loans, though self-funded banking regulators will continue operating as usual.

Jerry Halbrook, who also held key roles at a number of mortgage lenders like Pennymac and Nexstar, has been named president and COO of Covered Insurance.

AB 226, still subject to governor's approval, allows likely $1 billion of borrowing to cope with strains on the state's insurer of last resort.

Consumers are so concerned about rising costs that they often forego coverage altogether, according to two separate studies from Valuepenguin and Realtor.com.

Mortgage lenders could face NFIP lapses and a government shutdown, but can take specific steps now to safeguard borrowers.

Premiums for property insurance have risen over 69% since 2019, far outpacing other components of the monthly mortgage payment, ICE Mortgage Technology found.

The home insurer's objections to an in-person public hearing with regulators are dismissed by a California administrative judge, along with efforts to separate and postpone wildfire claim handling complaints from the rate hearings.

The new affiliate, NAF Insurance Services, is teaming up with The Baldwin Group to offer a range of coverage from more than 50 carriers nationwide.

Gen Z and Millennial homeowners also face unexpected expenses after closing, underscoring need for more education on the part of mortgage professionals.

Insurance industry advisors and groups say the INSURE Act proposal for a catastrophic reinsurance program won't solve rising prices and coverage crisis.

More powerful storms and pricier building costs are behind the increases in premiums, said the report's authors.

Numbers on use and performance point to potential for nonpublic insurers to take on a greater role but also suggest there are limits to it, Fitch Ratings found.

States warn that eliminating the BRIC program could leave rural areas vulnerable to extreme weather.

The state forecasts eroding coastlines will endanger $18 billion of existing homes and commercial buildings in the coming decades.

Even before January's fires in Los Angeles, change-of-address data shows residential moves based on fire risks and insurance availability.

While attention traditionally focuses on damage to coastal markets, the economic effects stretch into "safer" communities nationwide, according to Cotality.

The state's regulator said the insurer must show it will cover more homeowners, and be more transparent. Consumer advocates want more concessions, saying the insurance crisis can't be solved on the backs of homeowners.

Recent wildfire updates include the Federal Housing Authority's waiving of quality-control reviews and the upheaval of the state's commercial real estate space.