Disaster planning

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

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

The Federal Housing Administration is giving mortgage companies it works with a break when it comes to certain early-payment defaults in official disaster areas.

The incidence of at least four flood insurance payouts totaling $20,000-plus, or at least two totaling more than the building's market value, is growing.

The president of the National Association of Mortgage Brokers shares her outlook for the trigger lead bill, secondary-market refinancing restrictions and more.

Awareness of disaster risk has increased in the public and private sectors, and it appears to be prompting more interest in home improvements in particular.

Nearly one-in-five homeowners have to borrow to pay unexpected expenses related to their property, although 24% claim to have a rainy day fund, according to Bankrate.

Distressed borrowers in parts of Maine, Nebraska and West Virginia are the latest to get short-term leniency on government loan payments due to disasters.

Although experts are predicting an active season, actual damages could be lower depending on how many storms make landfall and where, Corelogic reported.

Claims from a more recent storm that caused some overlapping property damage are also mounting, according to the Federal Emergency Management Agency.

Wind and storm surge damage to residential and commercial properties could reach $47 billion, according to a CoreLogic analysis.

Speaking with the consumer regarding the proper amount and type of insurance needed is the best way for lenders and servicers to mitigate the likelihood of default.

Following the third most active season on record, the 2022 forecast predicts La Niña will drive increased Atlantic storm development.

While particularly high rates of lending have cushioned mortgage companies and banks from the impact in the past, higher rates and thin margins have made efficiency more pressing.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

Likely changes to the National Flood Insurance Program are poised to raise costs for many Jersey Shore homeowners, perhaps substantially.

The percentage of flood damage to residential properties from Hurricane Harvey that is uninsured is turning out to be a little higher than earlier estimates.

The parts of the U.S. most at risk of natural disasters are also the places where property values are highest and increasing most quickly.

Lennar Corp. anticipates that hurricane-related damage will delay its new-home deliveries temporarily, adding to home-inventory challenges in the mortgage market in the short-term.

The hurricane was expected by many to deliver catastrophe. Instead, bankers are largely looking to restore power and confirm the status of employees.