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John Rogers is a well-known name in the world of mortgage and real estate data analysis. We have amazing data scientists who are building out new models — from reducing premiums on wildfire insurance in California to using image analytics so that an appraiser can capture the appraisal in real time and use it for quality assurance.
methodology in October 2021, thousands of homeowners in low-elevation coastal areas of the United States braced for federal flood insurance hikes. Recently released data from the agency shows that annual flood insurance premiums will eventually double or even triple for homeowners in some U.S. When FEMA released its Risk Rating 2.0
In late June, Susan Gregory received an estimate for a new homeowner’s insurance policy on her 120-year-old St. Augustine, Florida property, after her previous insurer, United Property and Casualty, went insolvent earlier in the year. This is one of the easiest parts of Florida to insure and costs have gone up over 40%.”
And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.
It now faces a wave of mortgage maturities and payoffs on the thousands of affordable-housing complexes it has helped to finance over the years — with no new construction carried out under the program since 2012. So, they prepay the mortgage and sell the property, or sell it once the mortgage matures. “A
RECESSIONS AND MORTGAGE RATES Recent data and the traditional definition show we are now in a recession even though there is debate among economic and political folks. this chart shows, each time the economy slowed significantly, mortgage rates declined. In fact, rates have fallen by an average of 1.1
Homeowners throughout flood-prone regions of America are enrolled in the federally backed National Flood Insurance Program (NFIP) , which reportedly aims to reduce the impact of flooding on private and public properties by providing affordable insurance to owners. In America today, some 3.1
After years of stops and starts, housing trade groups are urging Congress to pass a long-term extension to the National Flood Insurance Program. Image generated by AI in Midjourney) It is unsurprising that the National Flood Insurance Program (NFIP) is yet again up for renewal in a little over a month’s time.
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