California has ordered mortgage lenders to report how they've handled insurance payouts after the Eaton and Palisades fires. AP says the state has received more than 160 complaints about delays or other problems.
The insurer paying out and the homeowner getting access are two different steps. That gap matters when you're trying to rebuild.
https://apnews.com/article/2d8dd6b9db2c083066eaf8048c51e85e
More reporting: https://www.insurancebusinessmag.com/us/news/risk-compliance-legal/california-orders-lenders-to-account-for-how-long-they-held-la-wildfire-insurance-payouts-593869.aspx
Image:
Illustrative photo via Insurance Business
#LosAngeles #Altadena #PacificPalisades #FireRecovery #Housing
The insurer paying out and the homeowner getting access are two different steps. That gap matters when you're trying to rebuild.
https://apnews.com/article/2d8dd6b9db2c083066eaf8048c51e85e
More reporting: https://www.insurancebusinessmag.com/us/news/risk-compliance-legal/california-orders-lenders-to-account-for-how-long-they-held-la-wildfire-insurance-payouts-593869.aspx
Image:
Illustrative photo via Insurance Business
#LosAngeles #Altadena #PacificPalisades #FireRecovery #Housing
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Categories: California [c15], Los Angeles [c16], News & Updates [c3]