Disaster recovery

The Federal Housing Administration has extended waivers on timelines for disaster-related re-inspections to properties in Puerto Rico affected by Hurricane Maria as well as other properties impacted by California wildfires.

The bill includes $16 billion in debt forgiveness for the National Flood Insurance Program and could benefit financial institutions’ customers in areas impacted by recent hurricanes and wildfires.

Mortgage lenders are urging the thousands of displaced homeowners to reach out to them in the aftermath of the devastating wildfires so fire victims can begin the process of either rebuilding or moving on, leaving behind the home they once had.

Texas is receiving $58 million from the Community Development Block Grant disaster recovery program that HUD administers.

A limited housing supply fueled by the San Francisco Bay Area's booming job growth and decades of slow construction has forced home values and rents to near record highs.

The destruction of scores of houses and apartments in the North Bay fires virtually guarantees that the affordable housing crisis in Marin County, Calif., is about to get even worse.

While the scale of destruction and suffering caused by Hurricanes Harvey and Irma is staggering, history suggests the local economy and housing markets in the affected areas will bounce back relatively quickly.

Over 172,000 homes in Napa and Santa Rosa, Calif., are at some level of risk from wildfires, according to CoreLogic.

Four neighborhoods hit hardest by Hurricane Harvey have limited resources and are in most need of federal, state and local assistance for property repair and rehabilitation costs.

Ginnie Mae mortgage-backed securities issuers can aggregate their portfolio's exposure to areas hit by the three recent hurricanes to qualify for its disaster relief program.

Incenter Mortgage Advisors is brokering on behalf of an unnamed mortgage banker an almost $10 billion mortgage servicing rights package that includes $870 million in loans with hurricane exposure.

Hurricane Irma will have more of an impact on Ginnie Mae securities than Harvey or Maria, a recent analysis by the government agency shows.

The Key West City Commission held tight to its majority’s desire not to raise taxes, particularly after the island was battered by Hurricane Irma.

Builder D.R. Horton is revising estimates for cash-flow from operations, certain expenses as a percentage of revenue and its backlog conversion rate in response to recent hurricanes.

Ginnie Mae is giving expanded loan buyout authority to certain issuers in order to help them remove loans affected by Hurricanes Irma and Harvey from securitized mortgage pools.

The plight of Orlando-area renters sheds light on a new set of post-Irma realities — rent payments on uninhabitable homes and apartments, challenges getting rent deposits refunded and few housing options in a tight rental market.

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.

The Federal Housing Administration responded to lender concerns about timelines that delay property re-inspections after storms by issuing a waiver for properties affected by Hurricane Irma.

Mortgage delinquencies in areas affected by Hurricane Harvey last month were 16% higher than in July, according to Black Knight Financial Services.

Mortgage investors want Freddie Mac to align its policy with Fannie Mae's when it comes to how delinquencies related to Hurricane Harvey affect credit risk transfer deals.