Insight
The proposed funding is designed to expand access to construction financing for homeowners affected by last year’s Southern California wildfires.
California MBA backs $100M fund in governor’s budget proposal for wildfire rebuilding
Summary
California's CMBA supports a $100M fund in the governor's budget for wildfire rebuilding, aimed at bridging the gap between insurance payouts and reconstruction costs. The fund envisions tools like loan-loss guarantees and interest rate buydowns. The CMBA is also backing an online portal powered by Prudent AI to connect homeowners with lenders. This will speed up reconstruction and reduce risks.
Key takeaway