California

Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.

The measure applies to mortgages closed in the months prior to the Southern California wildfires, which are now experiencing early-stage distress.

Offices, apartment buildings and retail locations in Los Angeles face a tangle of difficulties as the smoke clears from January's wildfires. High on the list is inadequate insurance, a common problem in California.

As climate change causes more frequent disasters, more mortgages are at risk of going underwater. How can banks limit their exposure?

When a house is lost, so is much of the collateral on the mortgage. Here's how both lenders and homeowners can bounce back.

State Farm's "emergency" rate increase request was rejected by California's insurance commissioner.

Portfolio enhancements and diversifications cushion the impact of the L.A. wildfires from RMBS losses.

Banks and credit unions also extended financial relief to Californians affected by the fires, which have killed 28 people and burned thousands of homes.

It's not an unthinkable notion. There have been a handful of attempts at systematically moving populations away from regions severely affected by climate change.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

When residents can finally return to see what's left of their homes, filing a claim and understanding the process could be challenging for many.

California's governor previously prohibited price gouging for building materials and housing services after wildfires destroyed or damaged 12,000 structures.

Verisk and Moody's are the first two modeling companies to submit their models to the California Department of Insurance. A Verisk executive explained the functioning of their model and what insurers' options are.

As the flames continued to spread, banks closed more branches while others donated to relief efforts.

A trio of blazes in SoCal have destroyed over 2,000 homes and structures in neighborhoods with average property values well above the national average.

The veteran turnaround executive was hired in 2020 to salvage the troubled banking company after the Justice Department launched a far-reaching probe of its mortgage lending practices. It agreed to sell to Florida-based EverBank.

California homeowners could be required to pay a surcharge if the state's insurer of last resort is unable to cover losses from a catastrophic wildfire.

California lawmakers have sent a bill to Governor Gavin Newsom's desk that would expand a state-backed down payment assistance program to undocumented immigrants who are looking to buy a home.

The scam involves unlicensed lenders offering phony warehouse lines of credit that have led to monetary losses in the thousands and the compromise of confidential borrower information.

The litigation involved more than 100 loans, many insured by the Federal Housing Administration, with volume totaling approximately $55 million.