Disaster planning

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.

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

Ginnie Mae will help issuers with certain servicing obligations if more than 5% of their portfolios are in areas Hurricane Harvey has ravaged.

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.