Flood insurance

More borrowers are taking action but lack good information, Fannie Mae finds. Meanwhile, premiums are up yet insurers struggle to profit, a separate KBRA study shows.

Frequent federal budget impasses increase insurance concerns and threaten to jack up financing costs that are already straining lenders.

The bipartisan deal struck Saturday temporarily allays concerns that would've required workarounds in parts of the lending process reliant on government agencies.

The indictment of Sen. Bob Menendez, D-N.J., is inconvenient for some Democratic priorities, but unlikely to impact a cannabis banking bill up for debate in the Senate Banking Committee.

Reeling from four hurricanes in 2020 and 2021 that caused $23 billion in damage, the state is undergoing an insurance calamity that is harming its economy and even reducing its population.

The growth in market share comes as the national insurance program has instituted a risk-based pricing regime that's led to some fluctuation in rates.

The first and fourth-largest home insurers in the Golden State won't issue new policies because of rising construction costs and exposure to catastrophes.

Homebuilders are among plaintiffs seeking a halt to the Federal Emergency Management Agency's overhaul.

The vendor said it'll be providing "staff augmentation" supported by a cloud-based system and data it has.

Two professionals who advise servicers on compliance name their key areas of concern.

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

The change, effective Dec. 21, is being put into place two years after it was first proposed.

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.

While commercial investors have begun to recognize the importance of anticipating extreme weather events in their business strategies, companies involved in residential transactions lag behind.

The company formerly known as UniversalCIS Credit Plus, which offers credit report services and appraisal technology, adds a new vertical to offer its mortgage lender clients.

Lawmakers on the Senate Banking Committee voiced some scattered support for changes to improve the finances of the National Flood Insurance Program, but comprehensive reform appears out of reach. 

The National Flood Insurance Program has been without a long-term reauthorization for five years, and it seems poised to stay that way after its first congressional hearing since 2019. 

As the National Flood Insurance Program goes into effect this month, more than 80 percent of existing policyholders are set to see rates climb and those gains will be spread largely evenly among rich and poor areas, according to a new report.

The Department of Housing and Urban Development’s inspector general said the Federal Housing Administration needs to improve guidance for servicers and improve controls.

Lenders and servicers that take a business-as-usual approach to managing their flood portfolios may be exposed to undue risk.