Natural disasters

Loans with coronavirus-related forbearance have to be reported as current to the credit bureaus but there’s a ripple effect from them that has implications for credit reports and underwriting.

The potential for longer homeowner recovery times from hurricanes could hurt mortgage companies that need to advance funds to investors from missed payments.

The Property Assessed Clean Energy sector is getting a boost from the expansion of improvements eligible to be financed via tax assessments, including fire resiliency and total building renovations, according to DBRS.

Lawmakers have had to extend the program eight times since October 2017, as Congress has been unable to pass broader reforms.

Destruction from Michael's storm surge and flooding has potential to affect 57,000 homes, with a worst-case total of $13.4 billion in reconstruction cost value, according to CoreLogic's latest estimates.

While the severity of Florence was reduced prior to Friday morning's landfall, mortgage servicers are taking proactive steps in addressing the emergency situation.

The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information.

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30.

Once again, congressional inaction on reauthorizing the National Flood Insurance Program is prompting concerns about what a lapse in coverage could mean for loan closings.