Housing Wire

SEPTEMBER 30, 2024

Slightly more than half of Americans say that weather events are becoming an increasing risk factor for their homes, while nearly one in five report difficulties in accessing homeowners insurance. The rising perception of climate risks also correlates to challenges that Americans have in accessing adequate insurance coverage.

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Appraisal Buzz

MARCH 12, 2025

In this episode, we dive into the growing risks posed by wildfires, hurricanes, and floods, and how these extreme events are impacting property values and insurability. Shell break down which regions are most at risk, how insurers and lenders are responding, and what the future holds for disaster-prone areas.

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Housing Wire

MARCH 17, 2025

Many condos are being added to a “blacklist” by Fannie Mae due to the properties not having enough insurance or needing major repairs. Insurance premium crises across the country in places like California , Texas and Florida are exacerbating the costs associated with locking in coverage.

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Appraisal Buzz

OCTOBER 21, 2024

This staggering figure highlights the state’s vulnerability to winter weather events. Recent years have seen Oregon struggle with not only severe winter storms but also an increase in insurance premiums. Texas has also led in damage over the past decade, with winter weather events causing $416.3 Of the $61.8

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Housing Wire

JANUARY 13, 2025

In total, the CFPB believes that over 400,000 mortgaged homes may be underinsured for flooding events in the southeast and central southwestern parts of the U.S. This is due to the National Flood Insurance Program being based off of FEMAs flood insurance maps, which the CFPB asserts may not capture accurate flood risk exposure.

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Housing Wire

SEPTEMBER 9, 2024

Why is homeowners insurance so expensive in the Upper Midwest? The growing prevalence of extreme weather events and the high cost of construction are pushing property insurers to significantly raise their prices , even in places you might not expect. More: catastrophic weather events are “a key driver” of the premium hikes. “In

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Housing Wire

OCTOBER 9, 2024

The home insurance marketplace has been facing a reckoning. The challenges that higher costs place on carriers, regulators , lenders and consumers has been well documented this year, and the acceleration of extreme weather events has only made things worse. Stork relayed a personal anecdote.

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Housing Wire

NOVEMBER 16, 2020

If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. Home insurance is also called homeowner’s insurance or hazard insurance. But mortgage insurance? What mortgage insurance does. The bottom line.

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Appraisal Buzz

JANUARY 29, 2025

and Anthony Carolei, Director of Risk Management for Professional Liability at Hanover, host Hal Humphreys explores the critical intersection of real estate appraisal and E&O insurance. Catch them at industry events like ACTS, Valuation Expo, or the Appraisal Summit this year. Want to connect with Susan or Anthony?

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Appraisal Buzz

DECEMBER 10, 2024

And yet, about that same amount failed to upgrade their insurance policies to protect their new investment. homeowners, 400 independent insurance agents, and 131 empty nesters, identified as married or partnered U.S. homeowners, 400 independent insurance agents, and 131 empty nesters, identified as married or partnered U.S.

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Housing Wire

AUGUST 19, 2024

A majority of Americans are seriously concerned that their retirement will be negatively impacted by the rising costs and uncertainty associated with sudden, unexpected and more frequent extreme weather events taking place across the country. More than half of U.S. More than half of U.S.

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Housing Wire

MAY 14, 2024

The firm attributed its stronger results to better performance from both its F&G segment and its title insurance segment. In addition to sharing his thoughts on the housing market and macroeconomic landscape, Nolan also had some things to say about the recent title insurance proposals announced by the federal government.

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Housing Wire

MAY 9, 2024

Despite the necessary requirement for a homeowner to maintain insurance on their property for protection against human- and naturally-occurring disasters, the impacts of climate change are creating “natural” scenarios that are increasingly not covered by insurance.

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Housing Wire

OCTOBER 25, 2023

A brewing crisis is emerging around homeowners insurance and thus far the finance and insurance community has not offered any viable solutions. The annual number of weather/climate-related disasters exceeding $1 billion per event has more than doubled over the last five years from historical averages.

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Housing Wire

JUNE 4, 2024

With flood insurance premiums commanding ever-higher prices, a U.S. senator recently described a hardship faced by a constituent who endured challenges with higher flood insurance costs while keeping a reverse mortgage in good standing. That’s on top of what they pay for homeowners insurance.” Bill Cassidy (R-La.).

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Housing Wire

NOVEMBER 19, 2024

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. The insurance commissioner there declared 13 resiliency prerequisites. Risk Rating 2.0

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Housing Wire

JANUARY 18, 2021

HW+ includes weekly long-form digital content, HousingWire Magazine, access to HousingStack, and free admission to all HousingWire virtual events. The post The title insurance arms race heats up appeared first on HousingWire. Already a member?

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Housing Wire

JANUARY 13, 2025

According to CoreLogic , the total damage cost estimate for the Los Angeles wildfires as it relates to insured properties is currently at $30 billion. Assuming all of those burnt, thats about a $30 billion insured loss event. That’s assuming every property within the perimeter is burnt to 100%, he explained.

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Housing Wire

JANUARY 24, 2024

In fact, for many new buyers entering the market this year, this will be the first time they ever hear the words “ title insurance.” Against this backdrop, it is critical that new homebuyers and homeowners alike understand what title insurance is, its benefits and the importance of asking about discounts available to them.

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Housing Wire

NOVEMBER 21, 2024

Home insurance premiums continue to rise, but the severity of the increases have cooled in recent months, which suggests that a semblance of stability is returning to the market. In 2024, many homeowners faced challenges finding coverage as insurers tightened underwriting criteria or withdrew from high-risk regions,” the analysis stated.

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Housing Wire

SEPTEMBER 7, 2023

Senate Committee on Banking, Housing and Urban Affairs to address the availability of flood insurance. In the letter, MBA SVP of Legislative and Political Affairs Bill Kilmer pointed to the impending expiration of the National Flood Insurance Program (NFIP), which is currently slated to happen on September 30.

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Housing Wire

MARCH 13, 2024

As recently as five years ago, homeowners insurance was certainly not top of mind for most homebuyers and their real estate agents , but the rapidly rising cost of insurance premiums is changing that. Before, insurance was kind of an afterthought. nationwide in 2023, with Farmers Insurance Group of Cos. and Utah at 20.3%.

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Housing Wire

DECEMBER 13, 2024

Malibu’s Franklin Fire torched over 4,000 acres this week in one of the country’s most expensive housing markets, putting more pressure on homeowners insurance premiums in a state that is already facing an insurance crisis. What will happen to insurance costs in California now?

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Housing Wire

SEPTEMBER 5, 2023

Porch Group announced that its insurance subsidiary Homeowners of America (HOA) has been placed under temporary supervision by Texas regulators. Vesttoo’s alleged fraudulent activity is an unfortunate event for insurance carriers and the reinsurance industry alike,” Matt Ehrlichman, CEO of Porch Group, said in a statement.

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Housing Wire

JANUARY 24, 2025

Fitch Ratings reported this week that recent natural disasters that have damaged thousands of homes and businesses including the Southern California wildfires and hurricanes Milton and Helene in the Southeast are not expected to heavily impact paid claims experience or credit ratings for mortgage insurers.

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Housing Wire

NOVEMBER 12, 2021

Shannon Foglia Brandy was pretty certain she wanted a career in public relations, but after a summer internship before her senior year at Bryant University, she began considering a career in the field of title insurance. “I But as a woman in her mid-20s, Foglia Brandy is something of an anomaly in the title insurance industry.

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Housing Wire

JANUARY 10, 2025

Less than 10 days into 2025, California is experiencing a multibillion-dollar wildfire disaster that is further shaking up the states already vulnerable insurance coverage. The nationwide study, according to Waters, would look at climate change as it relates to extreme weather events like wildfires. Waters said.

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Appraisal Buzz

NOVEMBER 26, 2024

Matic announced that it has published its annual year-end trends and predictions report, which examines significant developments in the house insurance market and their effects on mortgage lenders and homeowners. In the second half of 2024, premium growth slowed considerably, with average rate increases for new plans being 6.6%

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Housing Wire

MARCH 26, 2025

“It is hard to interpret this series of events as anything other than a coordinated effort by local officials over decades to displace Black residents.” This is primarily due to rising homeowners insurance premiums, denied claims and inadequate coverage. in 2023, according to the state’s insurance department.

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Appraisal Buzz

OCTOBER 11, 2024

This event will explore the intersection between liquidity for mortgage lenders, servicers, and mortgage-backed securities Issuers, and the preservation of borrowers’ access to affordable credit throughout the economic cycle. Click here for a complete event agenda and participant details.

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Housing Wire

JANUARY 27, 2025

The companies advertise no monthly payments and require consumers to assume all costs for property taxes, hazard insurance, and property maintenance, and require a large settlement payment, similar to the loans originated in the early 2000s that were negative amortizing and required a balloon payment at the end of the loan term, the report said.

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Housing Wire

DECEMBER 29, 2021

After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for next year, along with a roundtable discussion on how these insights apply to your business.

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Housing Wire

JUNE 12, 2024

But when we say this is the Ultimate Resource Guide for title insurance professionals, we mean it! Associations American Land Title Association (ALTA) ALTA serves as the national trade association and voice for the title insurance industry, representing over 6,000 title insurance companies, agents and real estate attorneys.

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Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

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Housing Wire

JULY 25, 2023

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. HousingWire: What is the current home insurance market like? In 2022, property and casualty insurers recorded a combined ratio of 102.4%

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Appraisal Buzz

JULY 24, 2024

According to Matic research, one reason for these market disruptions may be the very high number of catastrophic events in 2023—28 U.S. These factors, along with an increase in the population in high-risk areas, have made the market unstable and made it difficult for insurers to make ends meet. in 2023 and 5.9%

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Housing Wire

JUNE 13, 2022

Fannie Mae has executed its sixth Credit Insurance Risk Transfer (CIRT) deal of 2022, providing up to $725 million in mortgage-risk coverage as part of the agency’s ongoing effort to share risk with private-sector insurers. billion of insurance coverage on $675.9 billion of insurance coverage on $675.9 If that $106.3

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