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1.2 million homes face wildfire risk in California

Housing Wire

Increasing wildfire risk resulting from climate change is a growing problem for insurers and homebuyers in affected areas, particularly California, according to a new report from data provider CoreLogic. CoreLogic said insurers’ models should account for the current risk landscape, including climate change considerations.

Insurance 319
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Ken DeGiorgio to become CEO of First American

Housing Wire

The second largest of the “Big Four” title insurers announced Wednesday that Kenneth DeGiorgio, who has served as the company’s president since May 2021, has been appointed chief executive officer, while current CEO Dennis Gilmore, who has held the position since 2010, transitions to chairman of the board of directors.

Insurance 334
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WFG acquires West Coast retail title operations from Doma

Housing Wire

” WFG, a full-service provider of title insurance, underwriting, and escrow services for real estate transactions nationwide, has been actively expanding its services and market reach since its establishment in 2010. The company’s platform enables tasks that used to take days to be completed in minutes.

Retail 350
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With rates at a 22-year high, the $3,000 monthly mortgage payment becomes the norm

Housing Wire

That’s before taxes and insurance are factored in (an average of $550 a month). Between 2010 and 2021, mortgage holders withdrew an average 0.92% of available tappable equity each quarter. It’s up 60% over the past two years. That share fell to just 0.4% over the past three quarters, researchers found.

Mortgage 408
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Why mortgage lending standards will ease in 2021

Housing Wire

If this happens, it would prove a dramatic contrast to that of the financial crisis, in which lenders tightened credit standards from 2007 through 2010, said Curt Long, National Association of Federally-Insured Credit Unions chief economist and vice president of research.

Lending 545
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Homeowners are staying in place twice as long as they did 20 years ago: Redfin

Housing Wire

were 65 and older as of 2020, up from 13% in 2010,” the report reads. Older generations have an outsized level of influence over the U.S. housing market for multiple reasons, Redfin said. One, the American population is aging: Roughly 17% of people in the U.S.

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Accurate Group acquires eMerge Property Solutions

Housing Wire

The company claims on its website that the total value of homes it has appraised is over $517 billion since 2010. Also, its total value of transactions closed and recorded since 2010 is over $436 billion. The acquired company will operate as a standalone division. This is the second acquisition for Accurate this year.

Valuation 364