Treasury outlines rising cost of homeowners insurance
Homeowners in areas with the highest risk of perils paid 82% more for homeowners insurance than those in ZIP codes with the lowest risks.
Regulatory
Auto Added by WPeMatico
Lawmakers, housing groups react to Scott Turner’s HUD confirmation hearing
Lawmakers and housing trade groups reacted to Scott Turner’s confirmation hearing to lead HUD, with many saying they’re poised to work with him on housing issues.
LA mayor issues order to expedite home construction amid wildfires
Los Angeles Mayor Karen Bass issued an executive order late on Monday that aims to speed up the rebuilding process in areas destroyed by the wildfires that have burned thousands of homes in Southern California. The order directs city agencies to expedite the building permitting process in affected areas by having discretionary review procedures waived, with a goal of getting permit approvals within 30 days.
New FHFA final rule seeks to expand liquidity for FHLBank system
The new rule seeks to give more control to the banks over their short-term investments to expand their liquidity.
HUD settles with PHH over alleged mortgage payment fees that violated FHA rules
HUD has settled with PHH over fees the company allegedly attached to mortgage payments. The department called the settlement “historic.”
Rep. Maxine Waters pushes for serious investigation with proposed wildfire bill
Less than 10 days into 2025, California is experiencing a multibillion-dollar wildfire disaster that is further shaking up the state’s already vulnerable insurance coverage.
HUD announces $12B in long-term disaster assistance across 24 states
The funds will aim to support multiple communities impacted by hurricanes, wildfires and more in 2023 and 2024.
California will require home insurers to offer policies in high-risk wildfire areas
California has a new regulation that aims to increase home insurance options in wildfire-prone areas after some insurers left the state.
Trump’s pick to lead HUD has opposed aid programs for the poor
A ProPublica report examined prior statements and legislative activity by Turner, who dismissed the report as painting a “negative picture.”
CFPB sues Rocket, The Jason Mitchell Group over RESPA violations
The CFPB is accusing Rocket Homes of orchestrating a kickback scheme to funnel business to its sister companies.