Arthur C. Clarke famously observed that while people can show mercy, “against the laws of nature, there is no appeal.” For mortgage lenders, servicers and investors, that line feels less like science fiction and more like a business reality. Severe storms, floods, wildfires, hurricanes and extreme heat are no longer isolated disruptions but recurring portfolio…
Understanding today’s regulatory and market trends is essential to keeping portfolios, compliance practices and insurance strategy aligned with borrower needs. Lender-placed insurance continues to be influenced by mortgage servicing rules, state insurance regulation, flood insurance reform, climate-driven property risk and borrower communication expectations. Since these issues move quickly, servicers and lenders cannot afford to treat…
Three Regulatory Trends That May Impact Your Coverage Understanding current regulatory trends is key to ensuring your portfolios and insurance strategy remain compliant while meeting your borrowers’ needs. However, the myriad regulations and requirements involving property insurance are evolving so quickly that it can be difficult to keep up. Ignoring this changing landscape is…
Famed science fiction author Arthur C. Clarke once wrote that while humans can show mercy, “against the laws of nature, there is no appeal.” Recently, we’ve all learned how very true that is.
There’s no doubt that natural disasters in the U.S. are increasing in number and scope, and it’s having a particular impact on how mortgage companies treat their portfolios. When thinking about protecting your portfolios from the impacts of natural disasters, here are three things to keep in mind.
There’s no doubt, natural disasters and severe weather events are on the rise in the U.S.—and the impacts have been devastating.
In 2020 alone, there was a record 22 individual disasters that each caused more than $1 billion in damages, according to the National Oceanic and Atmospheric Administration. Disasters have hit everywhere, too—from wildfires in the West, to floods in the Midwest, to cyclones and hurricanes in the East and Southeast.
An interesting thing happened at this year’s Olympic Games in Tokyo. The top two high jumpers, Italy’s Gianmarco Tamberi and Qatar’s Mutaz Barshim, were tied at the end of the event and appeared headed for a “jump-off” to decide who should get the gold medal. Instead, the two athletes decided to share it.
For many observers, it was the ultimate sign of sportsmanship. Others, however, were shocked. Why would someone work their whole life to be the best in the world, only to share the glory?
