Disaster recovery

A senior advisor at NAIC, the association of state insurance regulators, told attendees of its fall meeting that the imminent FEMA Review Council report should answer questions about funding for disaster relief and flood insurance, as well as other related issues.

The Senate passed a bipartisan bill that would provide tax-filing relief for taxpayers in states that have issued state-level disaster declarations, sending the bill to President Trump for his signature.

Deadly flash flooding in Texas serves as a reminder of the tactics scammers and fraudsters use against both victims and charitable onlookers.

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.

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.

Rep. Val Demings introduced legislation in Congress that automatically triggers a stop on evictions and foreclosures for homeowners with federally-backed mortgages when a disaster is declared.

HUD also said that it will extend mortgage insurance to homeowners whose properties have been destroyed.

As ominous as the dark smoke that choked the Bay Area while California's most destructive wildfire raged 200 miles north, a second tragedy now is looming over the state — the loss of thousands of homes in an already housing-starved region.

The Woolsey Fire in Southern California destroyed or damaged as much as $6 billion in real estate, a new estimate shows.