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Higher insurance premiums are a shoo-in after the LA wildfires

Housing Wire

The looming impacts on real estate and insurance are also at the forefront of Californians minds. “We’ve got clients calling us frantically looking for leases. Obtaining home insurance in California has been a longstanding issue. It certainly is not going to drive costs down. Who’s bearing the risk?

Insurance 418
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What to expect in 2025: Securing customer insurance in a volatile real estate market

Housing Wire

Rising personal home insurance rates, fueled by escalating claims costs, increasing property values and the growing frequency of natural disasters, will all have a profound impact on market dynamics and homeowners insurance costs. In the first half of 2024 alone, insured losses hit $62 billion , 70% above the 10-year average.

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As LA fires burn, reverse mortgage industry emphasizes need for servicer, insurer contacts

Housing Wire

Representatives from lenders and servicers, as well as individual originators, have told HousingWire s Reverse Mortgage Daily (RMD) that its imperative for borrowers to let their servicer know about anything that could impact the occupancy of their property due to the terms of Federal Housing Administration (FHA)-backed reverse mortgages.

Insurance 396
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Taking the Pulse of Mortgage Servicing: Industry Leaders on What’s Ahead

Appraisal Buzz

The mortgage servicing landscape has long been a crucible of change, where today’s decisions lay the groundwork for the industry’s future. Formed in 2023, the MSEA is a platform for nurturing the next generation of mortgage leaders. Here’s what our panel of mortgage servicing executives had to share.

Mortgage 410
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CFPB warns consumers about home equity contracts, comparing their features to reverse mortgages

Housing Wire

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity. Unlock Partnership Solutions case in the U.S.

Contracts 370
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Navigating movement in the mortgage industry series: Due diligence in mergers and acquisitions

Housing Wire

There is constant movement in the mortgage industry with the desire for growth and expansion. Thus, it has never been more important to focus on due diligence in analyzing a mortgage industry acquisition target. Regulatory compliance The mortgage industry is heavily regulated and subject to scrutiny by both State and Federal agencies.

Mortgage 418
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Louisiana homeowners insurance costs lead more seniors to reverse mortgages

Housing Wire

Homeowners insurance costs are higher now than they have typically been , which has the potential to hit those living on a fixed income particularly hard. A lot of my calls start with clients asking about whether or not they should get a reverse mortgage,” she told the outlet.

Insurance 448