A statement confirming that reverse mortgage lenders can conduct a financial assessment to help ensure borrowers can meet their tax and insurance payments on the loans is coming soon, a Department ...

The $1 billion assessment puts the FAIR Plan at an estimated cash position of just under $400 million by July 2025, and enough to ensure that the FAIR Plan continues to have sufficient funds to ...

In a statement released Thursday, Jan. 30, the California FAIR Plan reported receiving more than 4,400 claims from victims of the Palisades and Eaton fires in the past three weeks.

1MDB’s auditor KPMG told the company not to rely on its reports over three years as they don’t show “true and fair” assessment of the troubled state fund’s finances.

Other assessments were made in 1994 and 1995 following the Northridge earthquake. In total, said Roach, the FAIR Plan assessed the industry $260 million.

As of Tuesday, Jan. 28, the FAIR Plan had received over 3,200 claims for damage from the Pacific Palisades Fire and over 1,200 claims for damage from the Eaton Fire, the statement said.