Climate change

Homeowners in areas affected by Hurricane Sandy have already seen growth in their property values lag behind the national median.

As this year's natural disasters bring heightened attention to the cost and availability of homeowners insurance, servicers often find themselves caught in the middle when customers see premium hikes.

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

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.

President Biden's initial disaster declaration made mortgage and other federal assistance available to residents across three Southeastern states.

A letter from several U.S. senators asked Director Sandra Thompson to follow the lead of her counterparts at other government-housing departments with similar rules already in place.

The analytics tool takes a look at geography and borrower activity to help pinpoint areas with high concentrations of loans at risk from natural disasters.

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.

InnSure executive director shares how communities can combat higher rates and mitigate climate risk by taking control of their insurability.

Climate change is leading to an increase in frequency of catastrophic weather events, causing property damage and issues with homeowners insurance.

Nikitra Bailey, EVP at the National Fair Housing Alliance, says communities of color are more vulnerable to the impacts of climate change because of prior redlining practices. She explains that a HUD rule could make a big difference.

Western utilities and beyond are finding it prohibitively expensive, if not impossible, to insure against potential fire-related claims. The issue will become more pressing as climate change makes droughts more intense and frequent, heightening the chances of more destructive infernos.

Understanding the peril is important for both primary and secondary mortgage market pricing of loans and risk, experts in a panel to the Mortgage Bankers Association's Secondary Conference said Tuesday.

"Lax regulation and monitoring of property insurers makes Florida mortgage markets far more exposed to climate risk than people might think," said Parinitha Sastry, an author of a working paper by researchers at Harvard University, Columbia University and the Federal Reserve.

The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.

An insurance-indexed debt-to-income ratio could help mitigate borrowers' rising premiums, and help maintain a healthy servicing portfolio, experts said.

The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.

Natural disasters have hammered U.S. home insurers and hindered some stateside origination activity, but no American lender has publicly pronounced a pullback over climate risks.

The Securities and Exchange Commission finalized a pared-down version of rules governing climate-risk disclosure by public companies first proposed in March 2022. Experts say even the weakened rule will likely face challenges in Congress and the courtroom.

The volume of active for-sale condo listings in the Sunshine State increased by 40% last month compared to a year earlier, Redfin said.