Florence Damage Estimated Up to $30B – NMP Skip to main content

Florence Damage Estimated Up to $30B

Phil Hall
Sep 25, 2018
Hurricane Florence is history, but the property damage left behind is being estimated at between $20 billion and $30 billion, according to data from CoreLogic

Hurricane Florence is history, but the property damage left behind is being estimated at between $20 billion and $30 billion, according to data from CoreLogic.
 
Flood loss for residential and commercial properties in North Carolina, South Carolina and Virginia is estimated between $19 billion and $28.5 billion—this includes storm surge and inland flooding. Wind losses are estimated to be an additional $1 billion to $1.5 billion. This analysis includes residential homes and commercial properties, including contents and business interruption
 
In a separate analysis, CoreLogic is estimated that uninsured flood loss for the region to be between $13 billion and $18.5 billion, while insured flood loss from private insurers is estimated at less than $5 billion, while the insured flood loss covered by the National Flood Insurance Program (NFIP) is estimated to be between $2 billion and $5 billion. A total of 445,000 total residential and commercial NFIP property policies were in place in the three states impacted by the hurricane.
Hurricane Florence is history, but the property damage left behind is being estimated at between $20 billion and $30 billion, according to data from CoreLogic

 
Published
Sep 25, 2018
FirstClose Receives $35M Investment From Lateral

Fintech says it will use the investment to expand its growing financial services footprint.

Industry News
May 18, 2022
Mortgage News Network Launches Podcast On Helping Underserved Borrowers

'Gated Communities' looks at why homeownership gap is increasing, and what lenders are doing to reverse the trend.

Industry News
May 17, 2022
Class Valuation Appoints EVP Of Valuation Modernization

Cristy Conolly will focus on removing bias from the equation in appraisals.

Industry News
May 17, 2022
Open Mortgage Appoints New Chief Financial Officer

Anthony Nolte, Open Mortgage's CFO since 2019, will transition to chief legal officer.

Industry News
May 17, 2022
Online Brokerage REX Pursues Litigation Against Zillow & NAR

The legal battle between REX Home Loans (Real Estate Exchange, Inc.) and NAR continues to heat up, even though REX is reported to have shut down operations.

Industry News
May 16, 2022
Fannie Mae Seeks Innovative Housing Ideas

Sustainable Communities Innovation Challenge seeks ideas to advance racial equity in housing, focusing on addressing supply, funding and credit barriers.

Industry News
May 16, 2022