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Homeowners insurance

Jerry Halbrook is president and COO of Covered Insurance

Former Black Knight exec Halbrook joins Covered Insurance

Career moves, Homeowners insurance, MARKETING TO BORROWERS, Mortgage technology, Originations, Servicing /

Long-time mortgage industry executive Jerry Halbrook has been named president and chief operating officer of insuretech Covered Insurance. Halbrook’s hiring is the latest sign of the convergence between the lending process and insurance, the company said. Jerry Halbrook is president and COO of Covered Insurance Property insurance costs have increased in recent years, and in […]

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Miami property insurance so costly that 20% skip getting it

Disaster planning, Flood insurance, Homeowners insurance, Housing markets, Underwriting /

Property insurance costs have gotten so high in Miami, that more than one-in-every-five homes do not have coverage, a study from Valuepenguin found. Nationwide, in the nation’s 50 largest metro areas, homeowners spend an average of 7% of their expenses on property insurance. But in Miami, 13.1% of monthly homeownership costs go toward coverage, followed

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Rising insurance costs deepen homeownership strain

Affordability, Florida, Homeowners insurance, Homeownership, HWmember, ICE Mortgage Technology, Insurance, Mortgage, Real Estate, Single-Family Housing /

Homeowners are spending a growing share of their mortgage payments on property insurance, which is now rising faster than principal, interest and taxes, according to the September ICE Mortgage Monitor. Data shows that annual property insurance payments for single-family mortgage holders now average nearly $2,370. That amounts to 9.6% of monthly mortgage-related expenses, the highest

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Property insurance nears 10% of mortgage costs

Distressed, Homeowners insurance, LOAN PRODUCTS, Originations, Property taxes, Servicing /

The property insurance portion of the average mortgage payment keeps rising, and is now just shy of 10% of the average monthly expense, ICE Mortgage Technology said in its September Mortgage Monitor Report. Mortgage payments are broken down into two components — principal and interest, and taxes and insurance; the latter normally goes into the

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Assurant Lending Solutions unveils insurance verification tool HOIVerify

Homeowners insurance, HWmember, Insurance, Mortgage, Mortgage applications, Technology, Underwriting /

Assurant Inc. on Monday announced the launch of HOIVerify Origination, an API-enabled solution that streamlines and automates insurance verification during the mortgage origination process. “Assurant’s HOIVerify product suite modernizes the complex mortgage loan process,” Greg Tuttle, senior vice president of Assurant Lending Solutions, said in a statement. “HOIVerify Origination is a proprietary platform that automates

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$12.7 trillion in US homes face severe climate risks

Affordability, FEMA, Flood insurance, Homeowners insurance, Hurricane, HWmember, National Flood Insurance Program, Real Estate, Realtor.com, Wildfire /

More than one in four U.S. homes — valued at $12.7 trillion — are exposed to severe or extreme climate risks, according to a report released Tuesday by Realtor.com. The analysis found that threats from flooding, hurricane winds and wildfires are increasingly reshaping housing markets, homeowner costs and insurance availability. “Climate risks are no longer

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Housing industry groups are fighting the surge in homeowners insurance costs

California, Climate Change, Florida, Homeowners insurance, Homeownership, HWmember, Insurance, Real Estate /

With homeowners insurance premiums expected to rise an average of 8% in 2025, according to data from Insurify, and researchers blaming these rising costs for an uptick in mortgage delinquencies, it’s clear that insurance costs are hampering homebuyers’ and owners’ already strained wallets.  “Insurance is one of those things that flies under the radar when

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New American launches insurance marketplace

Homeowners insurance, Housing affordability, Industry News, LOAN PRODUCTS /

New American Funding announced the launch of an insurance affiliate, which will offer homeownership coverage, alongside a range of other protections. In a deal with insurance distribution firm The Baldwin Group, New American will sell primary property coverage in addition to products to guard homeowners against flood and wind damage. The affiliate, named NAF Insurance

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 Rising insurance costs cut into buyer affordability

Affordability, Climate Change, Homeowners insurance, Housing Market, HWmember, Insurance, Real Estate /

Housing affordability is taking center stage this fall for the Trump administration. From President Donald Trump’s early executive order ordering the heads of all executive departments and agencies “to deliver emergency price relief,” to Treasury Secretary Scott Bessent highlighting housing affordability as one of his “big projects,” the affordability crisis is clearly top of mind.

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Tech startup offering AI-driven property level risk modeling

Affordability, Alabama, California, Climate Change, FEMA, Flood insurance, Florida, Homeowners insurance, Hurricane, HWmember, Insurance, Mississippi, National Flood Insurance Program, Natural Disaster, Real Estate, Tornado, Wildfire /

San Diego-based startup FutureProof is using artificial intelligence (AI) to change the way insurers assess catastrophe risk and set premiums, a shift that could make insurance both more affordable and easier to come by in disaster-prone regions. “FutureProof started with thinking about the build environment and everyone’s homes and businesses,” FutureProof co-founder and co-CEO Alisa

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