Insurance

Mortgage companies in Florida are bracing themselves for the potential landfall of Hurricane Irma, which has followed close on the heels of Hurricane Harvey.

Armada Analytics, a commercial real estate underwriting and asset management services provider, acquired Anabranch Flood, a provider of flood risk assessment services.

The long-term recovery for thousands of Texans whose homes were decimated by Hurricane Harvey rests with a Trump administration government outsider who wants his agency's budget cut by billions of dollars.

The need to raise the U.S. debt limit, pass a budget, provide relief for victims of Hurricane Harvey and enact flood insurance and tax reform will dominate the remaining legislative calendar this fall.

Residential flood damage from Hurricane Harvey could reach as high as $37 billion, with more than two-thirds of losses not covered by insurance, according to CoreLogic estimates.

Contributing to the high losses is the fact that Texas, despite being one of the states most vulnerable to storms, has one of the most relaxed approaches to building codes, inspections and other protections.

The massive flooding in Texas is sure to put pressure on lawmakers to resolve differences over the National Flood Insurance Program, but a short-term extension of the program is still the most likely scenario.

Hurricane Harvey’s second act across southern Texas is turning into an economic catastrophe — with damages likely to stretch into tens of billions of dollars and an unusually large share of victims lacking adequate insurance.

With Hurricane Harvey rapidly making its way toward the Texas coast, lenders and servicers have activated business continuity plans to accommodate pending transactions and provide options and support to existing borrowers affected by the storm.

Republican efforts to repeal the Consumer Financial Protection Bureau's arbitration rule were dealt a significant blow Friday by another Wells Fargo scandal.