Mortgage rates, loan limits and forbearance

We cover the increase in conforming loan limits for Fannie and Freddie and what forbearance numbers and record-low rates could mean for the housing market.

Untying business growth from the housing market cycle

Lenders need business growth that is not linear and is not tied to the market cycles – leveraging automation technology can help.

The practical use of AI for LOs

The combination of tightly-packed schedules and intensive oversight means augmenting loan officer’s efforts with intelligent systems is more relevant than ever.

HousingWire's 2020 Tech Trendsetters

This year’s list of Tech Trendsetters certainly earned their status as the industry was met with incredible challenges and new opportunities.

Sponsored Content

How the National Flood Insurance Program’s recent extension provides stability for the housing market

The NFIP's recent extension is the 16th short-term extension of the program since 2017

The National Flood Insurance Program’s authority to issue policies was recently extended for a full year, until September 30, 2021. This is the 16th short-term extension of the NFIP since Congress reauthorized the program in 2012 and extended it in 2017, and the one-year extension is the longest of those extensions. 

The NFIP provides stability for the housing market. As part of its Flood Services business, CoreLogic completes flood zone determinations for banks and mortgage companies to support their compliance with the mandatory purchase requirements. If CoreLogic determines that a home is in a high-risk flood zone, as a condition of that loan, the bank must require flood insurance – and most of those policies are written through the NFIP. 

The NFIP also provides assurances for homeowners. We’re currently in one of the most active hurricane seasons, and it’s critically important that the more than 5 million Americans with flood insurance know that their policy can be renewed at time of renewal. 

The mandatory flood insurance requirement is a minimum requirement and can serve as a safety net, in that a population of loans in a high-risk area with a mortgage will have that required flood insurance. CoreLogic has seen that the mandatory purchase requirement reduces the amount of time it takes for a community to recover. 

For more information, visit CoreLogic.com

Most Popular Articles

The downside of the hot 2020 housing market: rapid home-price growth

The mismatch in the COVID deflationary impact toward the economy overall and the strength of the housing market due to demographics makes for a troubling formula for home-price growth, which we are seeing. The recent NAR existing home sales report showed 15.5% year-over-year growth in prices. HW+ Premium Content

Nov 30, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please