News
Foreclosure calls surge as FHA relief programs expire
4+ hour, 43+ min ago (595+ words) Foreclosure inquiries increased for a third consecutive quarter and hit their highest level since March 2020, a new LegalShield report found. Its foreclosure index rose 12.2% year over year and 5.6% quarter over quarter to 52.5 in the second quarter this year. The index,…...
Insurance now eats up 8.5% of housing costs: report
1+ day, 24+ min ago (547+ words) Extreme weather disasters, along with inflation, are elevating the cost of home insurance across the country, a new industry report found. Home insurance makes up 8.5% of typical monthly housing costs for homeowners with a mortgage nationwide, which equates to $200 of…...
Uninsured homes in flood-prone areas pose growing credit risk
2+ week, 4+ day ago (581+ words) Homes that are not expected to be associated with high flood risk are becoming more so. Properties in the United States are exposed to $375 billion to $1trillion aggregated uninsured flood losses, according to a recent report from Moody's. These homes could…...
Select Portfolio Servicing settles with California AG
1+ mon, 6+ day ago (690+ words) Select Portfolio Servicing has resolved allegations that it violated state and federal rules aimed at protecting borrowers from foreclosure during the pandemic. SPS, which an investor consortium bought from UBS in a deal that closed last year, agreed to pay…...
Home insurance rate hikes may be cooling off
1+ mon, 2+ week ago (651+ words) The rapid acceleration of home insurance costs may be approaching an inflection point after growth cooled considerably last year, according to a new report from Rate Cos. The average premium increased 9.2% in 2025, rising to $2,205 from $2,020 the prior year, with moderation…...
California bills would pause mortgage payments in disasters
2+ mon, 2+ week ago (921+ words) Three wildfire-relief bills, including one that would let homeowners pause mortgage payments after a disaster declaration, cleared their respective California committees this month and are headed to formal votes. State Assemblymember John Harabedian, D-Pasadena, whose district includes some of the…...
Home insurance prices set to keep rising with severe weather
3+ mon, 4+ week ago (443+ words) US home insurance premiums are set to rise for a fifth straight year in 2026 as insurers grapple with losses from extreme weather and high rebuilding costs. The average annual premium is projected to increase 4% to about $3,057 this year, after jumping…...
Condo lenders push back on Fannie, Freddie rule changes
3+ mon, 2+ week ago (952+ words) The mortgage industry has generally supported Fannie Mae and Freddie Mac's more flexible roof insurance requirements for all single-family mortgages, but some condo market stakeholders have questioned certain other changes announced alongside it. First flagged by a community lenders group…...
Pulte got the condo insurance call right
3+ mon, 3+ week ago (1044+ words) Last year, Rep. Addison McDowell (R-N.C.), spearheaded a letter signed by over 45 House GOP members urging the FHFA to reconsider guidance limiting ACV homeowners' insurance policies for federally backed mortgages. "We should be doing everything in our power to make…...
FHFA loosens insurance rules targeting condos, rural loans
3+ mon, 3+ week ago (750+ words) The Federal Housing Finance Agency and the government-sponsored enterprises have opened up some new insurance options for borrowers, departing from a strict coverage mandate for single-family homes. Fannie Mae, Freddie Mac and the agency also known as US Federal Housing,…...