Hurricane Laura projected to cost insurers billions

In today’s Daily Download episode, HousingWire discusses the projected costs insurers will have to pay for damages that property owners endured from Hurricane Laura last week.

For some background on the story, here’s a summary of the article:

Insurers will have to fork over billions of dollars to pay for damage that property owners incurred from Hurricane Laura last week.

Data and analytics provider CoreLogic estimated that residential and commercial property damage in Louisiana and Texas could come in anywhere between $8 billion and $12 billion, with the vast majority of the damage coming in Louisiana.

The storm, the most intense hurricane to make landfall in the northwestern gulf in more than 150 years, will also hurt homeowners’ ability to pay for their mortgage.

Following the main story, HousingWire covers the Mortgage Bankers Association’s weekly forbearance volume survey and the MBA’s and Structured Finance Associations’ comments on the Federal Housing Financing Agency’s proposed rule for a new regulatory capital framework for Fannie Mae and Freddie Mac.

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Hurricane Laura wallops areas with high mortgage delinquency rates
• Fannie Mae, Freddie Mac forbearance rate falls to a 4-month low
• MBA, SFA comment FHFA’s proposed new regulatory capital framework