General World News

Over 400K mortgages may be underinsured for flood risk: CFPB

The Consumer Financial Protection Bureau (CFPB) has found that homeowners facing flooding from rivers and creeks are more likely to be underinsured against flood risk than homeowners in coastal areas, according to a report published on Monday.

The report is based on a sample of mortgage applications from 2018 to 2022, and it examines flood risk in the southeast and central southwest census regions of the United States, according to flood risk data from the Federal Emergency Management Agency (FEMA) and details ⇒

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