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Fairway, accused of redlining in Alabama, agrees to settle for $1.9M

Housing Wire

Regulators said that data showed that only 3.77% of Fairway’s applications from 2018 through 2022 were for properties in majority-Black areas of Birmingham. From 2018 to 2020, it directed less than 3% of its direct mail advertising to consumers in majority-Black areas and, despite knowing about the discrepancies, failed to address them.

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Treasury outlines rising cost of homeowners insurance

Housing Wire

The department said its report is based on the most comprehensive and granular snapshot of the homeowners insurance market to date, and covers more than 330 insurers and over 246 million homeowners insurance policies that are aggregated to the ZIP Code level from 2018 to 2022, with an annual average of 49.3 million policies.

Insurance 369
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California will require home insurers to offer policies in high-risk wildfire areas

Housing Wire

The eight largest wildfires in state history have occurred since 2017, and the worst when measuring the loss of life was the Camp Fire in 2018, which killed 85 people. In explaining the rationale behind the new regulation, the Department of Insurance noted that climate change has made California hotter and drier over the last several decades.

Insurance 521
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Brookfield Properties’ rental division to acquire Divvy Homes in ‘fire sale’

Housing Wire

Andreessen kicked things off in 2018, leading a $30 million Series A equity and debt round. Divvy earned a spot on HousingWire ‘s 2018 Tech100 list and on Forbes’ fifth annual Fintech 50 in 2020. In 2021, Tiger Global followed, leading a $110 million Series C funding round.

Investors 365
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Did home sales momentum fizzle in December?

Housing Wire

The total number of unsold homes on the market to start 2025 is just 18% fewer than at the start of 2018, seven years ago. In 2018, mortgage rates and inventory rose all year. When rates rise and stay high, like in 2018 or the last three years, inventory grows.

Inventory 430
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More home sellers and home sales in May

Housing Wire

There were only 11% more homes unsold on the market at this point in May 2018 than there are now. The green line is 2018. 2018 was a rising interest rate year, and inventory rose also that year. You can see the green line of 2018 finished with more unsold homes on the market than 2017 or 2019.

Sellers 375
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First American: Rising costs squeeze homeownership for millions

Housing Wire

Mortgage holders faced a similar burden rate as recently as 2018, and outright owners saw comparable levels back in 2015,” he said. . “Free and clear” homeowners without a mortgage, who are often older and have a fixed income, saw their housing burden rise more dramatically — from 9.4% during the same three-year period.