Hedging, Accounting, Verification, Jumbo, Workflow Tools; In-Person Events

Thank you to the folks who wrote to me about their concerns with the Reno fire, knowing my ties there (my place is safe). On a broader scale, as of August 24, the United States has had nearly 51,000 wildfires, blazes that have burned over 7.8 million acres, a concern of everyone including lenders and servicers. It’s not your imagination that it’s a lot: Compared to the 10-year average, the number of fires is 129 percent of normal, and the acres burned is 168 percent of typical. Last year over the same period, there were just 45,331 fires and 4,065,073 acres burned. Water can equally be a concern: Some 129 million people (nearly 40 percent of the U.S. population) live in coastal counties. Recent research shows that a rise in sea level driven by humans has increased the frequency of extreme coastal flooding around the world, also a concern to lenders and servicers. Here’s what’s Florida is doing. Florida’s traditional appeal as a retirement destination is being eroded by rapidly rising housing costs and inflation (South Florida’s CPI has climbed 36 percent since 2019), while homeowners insurance premiums remain more than twice the national average, making the state increasingly expensive for retirees. (Today’s podcast can be found here. This week’s ‘casts are sponsored by Experian. From lenders and landlords to employers and consumers, Experian helps connect the housing ecosystem with the data and insights needed to make faster, confident decisions. Lead a smarter housing journey with Experian. Today’s has an interview with MIAC’s Dan Libby on the long-term drivers of MSR value, portfolio construction, and hedging effectiveness.)