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Wildfire

California MBA backs $100M fund in governor’s budget proposal for wildfire rebuilding

California, Construction loan, Forbearance, Housing Market, HWmember, Mortgage, Natural Disaster, Wildfire /

The California Mortgage Bankers Association (CMBA) voiced strong support for Gov. Gavin Newsom’s proposed $100 million allocation for the Southern California Rebuild Fund included in this month’s revised state budget proposal, the trade group said this week. The proposed funding is designed to expand access to construction financing for homeowners affected by last year’s Southern […]

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LA wildfire recovery aftermath draws Trump scrutiny

California, Donald Trump, Forbearance, Housing Market, HWmember, Los Angeles, Mortgage, Wells Fargo, Wildfire /

Donald Trump said last week that his administration will examine how banks are treating homeowners affected by the last year’s Los Angeles wildfires, singling out Wells Fargo for criticism after meetings with local officials. In a post on Truth Social, Trump said he met with Los Angeles Mayor Karen Bass and Los Angeles County supervisor

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First fully rebuilt Palisades home testing post-fire demand

Brokerage, California, Compass, Home Prices, Homeowners insurance, Housing Market, HWmember, Los Angeles, Luxury Real Estate, Natural Disaster, New Home Sales, Real Estate, Wildfire /

Fourteen months after California’s Palisades wildfires destroyed nearly 5,900 homes, the first fully rebuilt residence has come to market, offering the clearest pricing test yet for post-fire demand. The newly built contemporary home — listed at just under $7.5 million — comes after the original was just one month from completion when it was destroyed.

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California MBA urges guardrails for bill targeting wildfire-related forbearance

California, CMBA, Forbearance, Housing Market, HWmember, Legislation, Mortgage, Natural Disaster, Wildfire /

The California Mortgage Bankers Association (CMBA) testified on March 20 before the California Assembly Banking & Finance Committee during an oversight hearing on California Assembly Bill 238, which focuses on the effectiveness of mortgage forbearance and the broader challenges facing homeowners affected by the state’s January 2025 wildfires. AB 238 provides up to one year

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Trump executive order overrides Los Angeles wildfire rebuilding plan

California, Donald Trump, FEMA, Housing Market, HWmember, Los Angeles, Natural Disaster, Politics, Wildfire /

President Donald Trump on Tuesday announced an executive order that allows the federal government to override state and local regulations during recovery efforts from last year’s Los Angeles wildfires, arguing that California authorities have slowed rebuilding. The order directs federal agencies to bypass state and local permitting processes for federally funded disaster recovery projects, asserting

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KB Home opens new wildfire-resilient community in NorCal hills

homebuilder, The Builder's Daily, Wildfire /

In the foothills of California’s Sierra Nevada mountains, KB Home has unveiled a fire-resilient new-home subdivision designed and engineered to protect homeowners, buffer neighboring communities and potentially lower property insurance rates.  The homebuilder opened its model home and began selling homes in its 24-lot Stone Canyon community, 30 miles east of Sacramento in the fire-prone

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Sonic Fire Tech launches infrasound wildfire defense system in California

California, HWmember, Natural Disaster, Technology, The Builder's Daily, Wildfire /

Sonic Fire Tech recently announced the commercial rollout of its Sonic Home Defense system, a wildfire defense system in California that extinguishes fires using inaudible, infrasound technology instead of water or chemicals.  The product has personal significance for Remington Hotchkis, chief commercialization officer at Sonic Fire Tech, whose family home in Altadena burned down in

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YIMBY group sues Newsom over SB 9 pause in L.A. wildfire zones

Housing Policy, Lawsuit, Policy, The Builder's Daily, Wildfire /

California Gov. Gavin Newsom gave the state’s “yes-in-my-backyard” coalition celebrated wins this year on housing legislation. Those same pro-housing activists have now sued him over an August executive order that exempts fire-ravaged areas in Los Angeles from a 2021 state law — Senate Bill 9 — that paved the way for higher density on single-family

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California FAIR Plan seeks insurance premium hike of nearly 36%

California, Homeowners insurance, Housing Market, HWmember, Los Angeles, Wildfire /

Homeowners in California might be facing a steep increase in their insurance costs. The California FAIR Plan, the state’s insurer of last resort, is seeking an average rate hike of 35.8%. If granted, this would be the largest hike recorded by the FAIR Plan in several years.  This proposed rate hike would be the largest

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Wildfire warnings accompany California’s older home sales

Affordability, California, Climate Change, Homebuying, Housing Market, HWmember, Insurance, Real Estate, Wildfire /

California has become the first U.S. state to require homeowners selling older properties in high-risk wildfire zones to disclose not just a house’s vulnerabilities, but also steps taken to reduce those risks. The new mandate took effect in July and applies to houses built before 2010 – when the state strengthened building codes to withstand

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