Remove Events Remove Insurance Remove Mortgage
article thumbnail

The differences between home and mortgage insurance

Housing Wire

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.

Insurance 468
article thumbnail

Severe storm fallout could destabilize the intersection of mortgage and insurance

Housing Wire

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.

Insurance 454
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

To emphasize flood insurance costs, senator cites reverse mortgage borrower

Housing Wire

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. And Cassidy shared another story of a constituent with a reverse mortgage on his home.

Insurance 442
article thumbnail

Consumer protection is what title insurance is all about

Housing Wire

But there appears to be a light at the end of the tunnel as mortgage rates are expected to steadily decrease, allowing homeownership to be within reach for more Americans. Even as home prices began to decrease last year, mortgage rates remained high, leading both buyers and sellers to stay out of the housing market. by the end of 2024.

Insurance 468
article thumbnail

The cost of homeowners insurance skyrockets in Upper Midwest states

Housing Wire

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

Insurance 448
article thumbnail

Fidelity CEO says federal government’s title insurance proposals are ’misguided’

Housing Wire

The firm attributed its stronger results to better performance from both its F&G segment and its title insurance segment. In April, purchase open orders per day were up 4% over last year, but higher mortgage rates may temper purchase volumes going forward. The firm’s title segment reported $1.7

Insurance 470
article thumbnail

Opinion: How to avert an impending homeowners insurance crisis

Housing Wire

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.

Insurance 442