CoreLogic

The share of underwater mortgages also grew for the first time in almost two years during the third quarter, Corelogic found.

Half a million single-family and multifamily homes in Tampa Bay and Sarasota are at risk of storm surge damage, Corelogic's report said.

The new tool, dubbed Araya, utilizes data available in several of the technology firm's lines of business, including its climate risk division.

Total insured wind and flood losses are predicted to be between $10.5 billion and $17.5 billion, according to CoreLogic. Earlier estimates placed the cost of insured damages between $3 billion and $5 billion.

The total insured wind and storm surge losses in Texas will be between $700 million and $1.5 billion, Corelogic estimates.

Also, Freddie Mac boosts single-family seller engagement team, Carrington names new CEO and Corelogic ads executive in real estate solutions.

Housing costs increased at the slowest pace in over a decade nationwide, even while monthly growth now exceeds its pre-pandemic level.

But late borrower payments slightly grew in November, with 18 metro areas reporting an increase, up from six metro areas in October, CoreLogic's report found.

The overall share of distressed mortgages fell in every state, but the effects of Hurricane Ian led to a small uptick in early-stage late payments compared to one year ago, CoreLogic said.

Over 1 million single-family and multifamily homes along the coast are at risk of storm surge damage.

The company’s new head held the role of chief operating and growth officer before being elevated to the leadership positions on an interim basis earlier this year.

No cause of death was provided for the longtime industry figure, who before joining CoreLogic in 2015 was at Freddie Mac for 28 years, including 13 as its chief economist.

But the amount relative to housing costs actually decreased from the previous year.

Even though the majority of forbearance plans have ended, late payments continued their downward trend in January.

But the share of homes purchased by those under age 30 has fallen steadily after peaking in 2020 as prices accelerated.

CoreLogic reported a 19.1% rise in annual appreciation but also noted that several of today’s hot markets are overvalued or at risk of declines.

Chief Operating and Growth Officer Pat Dodd becomes interim president and CEO following Frank Martell’s move to non-executive chairman of the company’s board.

The deal comes after a tumultuous 12-month period for CoreLogic, which saw itself twice targeted for acquisition.

But March's overall late payment rate was 1.3 percentage points higher than one year ago, while the 90-day-plus rate was 2.3 percentage points higher.

Storm-related reconstruction costs — a large share of which may be concentrated in the New York City area — are estimated to total $1.9 trillion for water damage and $8.5 trillion for wind damage.