An audit from the U.S. Department of Housing and Urban Development (HUD)’s Office of Inspector General (OIG) found that more than 1,200 reverse mortgage borrowers could exhaust funds set aside to pay property taxes and insurance years earlier than expected, potentially exposing HUD to hundreds of millions of dollars in losses. The audit, released May […]
HUD audit warns 1,237 reverse mortgage accounts may run out Read More »
A group of eight Republican senators is again urging the Federal Emergency Management Agency to scrap Risk Rating 2.0, the flood insurance pricing overhaul implemented under the Biden administration. The request comes in a new letter led by Sen. Bill Cassidy of Louisiana, following a similar appeal he sent to FEMA last June. Processing Content
GOP senators push FEMA to scrap Risk Rating 2.0 Read More »
A House of Representatives committee advanced a piece of legislation Wednesday aimed at addressing affordability issues in the housing market. Processing Content A markup of the bipartisan Housing for the 21st Century Act was passed, 50-to-1, by the House Financial Services Committee, setting up a potential floor vote early next year. The committee also unanimously
House advances markup set to improve housing affordability Read More »
ALIRT Insurance Research released a report this week finding that Florida’s homeowners insurance market has stabilized after years of financial strain — following legislative reforms adopted in late 2022 and early 2023. The 2025 Florida Domestic Property Insurer Market Update concludes that the market has rebounded from conditions in 2022, when litigation costs, rising losses
Florida property insurance market is rebounding from 2022 low point Read More »
When Zillow Group Inc. removed climate risk scores from its home listings last month, following a complaint from the real estate industry, many observers took to the press and social media to warn that disappearing the data doesn’t get rid of the risk. In a world assailed by extreme weather, homeowners and purchasers need to know their property’s vulnerability to
Zillow deleting home climate risk scores reveals limits of flood, fire data Read More »
Last week, the Mortgage Bankers Association (MBA) and 14 other trade groups representing insurance companies, lenders and other financial institutions urged Congress to approve a long-term reauthorization of the National Flood Insurance Program (NFIP). In a letter to congressional leaders dated Dec. 2, the organizations said that millions of U.S. homeowners depend on the federally
After another lapse in coverage, trade groups urge Congress to pass long-term NFIP bill Read More »
National Flood Insurance, LLC is streamlining the flood insurance process for agencies and mortgage brokers with two new platforms. Flood Quotes and the Flood Insurance Portal allow users to compare multiple quotes from carriers, purchase policies directly and manage quotes, policies and client details through a dashboard. “We developed Flood Quotes to simplify, expedite, and
National Flood Insurance launches faster quote portals Read More »
Privatizing the National Flood Insurance Program would raise premiums by hundreds of dollars, according to a study that estimates the impact as policymakers weigh potential changes and mortgage-related coverage costs climb. The average 64% increase would equate to an additional $600 in annual costs for the average homeowner with flood insurance, who currently pays $933
What privatizing the NFIP would cost homeowners: Insurify Read More »
As the government shutdown comes to an end, two congressmen introduced legislation to retroactively restore the National Flood Insurance Program. Reps. Troy Carter, D-La., and Mike Ezell, R-Miss., introduced the Retroactive Renewal and Reauthorization Act to the House Monday, with hopes to backdate the reauthorization of the insurance program to Sept. 30, the day before
Flood insurance retroactive restoration bill introduced Read More »
Hundreds of community association leaders visited Capitol Hill this past Thursday for the Congressional Advocacy Summit hosted by the Community Associations Institute (CAI). More than 200 advocates from CAI — representing more than 77 million homeowners association, condominium and co-op residents — met with members of Congress and their staff to discuss federal issues in
Community association leaders advocate on Capitol Hill Read More »