Let Valuation Tech Help Improve Your Collateral Valuation

Join this webinar to learn how technological advancements in valuation provide solutions to help lenders and servicers deliver more comprehensive offerings to their clients.

Talking proptech with FinLedger Director Holden Page

In this episode, Page discusses the hottest topics coming across FinLedger’s news desk. Topics include: the online banking market, what’s happening in the proptech space and recent private market deals.

With a reinvigorated CFPB, what’s next for the NYDFS?

While the CFPB is reinvigorated under the Biden administration, there’s plenty of room for it to retake a leading role and coordinate with the NYDFS.

Does your CRM hurt or help the customer experience?

In real estate, data is king. The more you leverage your own data the better off your agents or loan officers will be because they’ll be able to identify, target and create better customer experiences.

Sponsored Content

How flood insurance requirements help stabilize 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

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3d rendering of a row of luxury townhouses along a street

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