Natural disasters

The analytics tool takes a look at geography and borrower activity to help pinpoint areas with high concentrations of loans at risk from natural disasters.

California homeowners could be required to pay a surcharge if the state's insurer of last resort is unable to cover losses from a catastrophic wildfire.

The total insured wind and storm surge losses in Texas will be between $700 million and $1.5 billion, Corelogic estimates.

Above and beyond the obvious damage, wildfires levied a hidden cost on the finance industry: Mortgage lenders and investors lost more than $30 billion between 2020 and 2022, due to both accelerated defaults and prepayments following disastrous blazes.

While congressional leaders fight over what to include with the $12 billion slated for FEMA, others feel that the reliance on FEMA and the federal government for disaster relief may begin to change.

Four out of five prospective house shoppers take into consideration how climate risks such as floods, wildfires and extreme temperatures can impact a property, per a Zillow report.

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.

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 latest version of the tool integrates more detailed data on social variables like race, income, disability and English language proficiency.

While most would consider where their next house will be due to natural disasters, only two in five would move from their current property, Freddie Mac said.

The move by the government bond insurer may pave the way for waivers of late fees, forbearance, modifications and foreclosure bans as the U.S. contends with damage from recent hurricanes.

Five days after Hurricane Ian slammed into the state — bringing with it a deadly storm surge, catastrophic flooding and powerful winds — the destruction it caused is becoming clearer.

Wind and storm surge damage to residential and commercial properties could reach $47 billion, according to a CoreLogic analysis.

Over 1 million single-family and multifamily homes along the coast are at risk of storm surge damage.

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.

Meanwhile, nearly half of consumers are more worried about severe weather now compared to five years ago, according to Realtor.com.

Property losses piled up in Mid-Atlantic and New England states as the tropical storm devastated the East Coast, according to CoreLogic.

Roughly $8 billion to $12 billion of the residential losses in the Louisiana area could be insured, according to CoreLogic. The storm’s more recent Northeast impact has not yet been calculated.

A ClimateCheck score measures the risk of disaster at the zip-code level over the period of a 30-year mortgage.