Disaster recovery

As forbearance starts to rise due to the fires, servicers that have just gotten a respite from hurricanes recoveries will have to gear up again.

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 North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western part of the state.

Banks in the hurricane's path are focused on finding employees and restarting operations. Those that do business in Western North Carolina are facing an especially grueling recovery.

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.

The manufactured homes in Paradise, California, have features like site-built structures and are eligible for Fannie Mae and Freddie Mac financing.

HUD has rolled out its 90-day foreclosure moratorium and the government-sponsored enterprises are providing up to a year of forbearance with fees or penalties.

The Homeowner Flood Insurance Transparency and Protection Act would temporarily give consumers with higher rates the option to revert to previous lower pricing.

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.