Mortgage servicers can breathe easier: this year’s Atlantic hurricane season is forecast to be below normal. Processing Content Still, even if one storm makes landfall in the U.S., property damages could be significant. For mortgage servicers, the effects of natural disasters, not just property damage and replacement but also the impact of temporary (and […]
El Niño means less active Atlantic hurricane season in 2026 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 »
California Governor Gavin Newsom said a group of major banks have agreed to extend mortgage relief for Los Angeles wildfire victims, as the area struggles to rebuild one year after the devastating blazes. Processing Content Wells Fargo, JPMorgan Chase, U.S. Bancorp and Citigroup will streamline requests for an additional 90-day forbearance period, allowing borrowers to
Large banks extend mortgage relief for LA wildfire victims Read More »
Three U.S. senators opened an inquiry into insurance ratings firm Demotech and whether its assessments may be exposing Fannie Mae and Freddie Mac — and ultimately taxpayers — to growing risks tied to climate-driven insurer failures. Processing Content In a letter sent Tuesday to Fannie Mae acting Chief Executive Officer Peter Akwaboah and Freddie Mac CEO Kenny Smith,
Lawmakers launch probe into key insurance rating firm in Florida Read More »
Congress has passed a bill giving taxpayers who have been affected by natural disasters some extra time to file a claim for a tax credit or refund. Processing Content The bipartisan bill, known as H.R. 1491, the Disaster Related Extension of Deadlines Act, was sponsored by Rep. Gregory Murphy, R-North Carolina, and Jimmy Panetta, D-California,
Congress passes law to extend tax deadlines after disasters Read More »
Florida and California, two states hit hard by natural disasters, lead the nation in non-renewal rates of homeowners insurance policies last year, a Weiss Ratings study found. Weiss looked at National Association of Insurance Commissioners data for 2024 and also did a comparison with 2018 in 15 disaster-prone states. Which states had the highest share
Home insurers drop California, Florida policies at high rate Read More »