New IBHS, CoreLogic study shows modern building codes cut post-hurricane mortgage delinquency rates in half
Richburg, S.C., Aug. 9, 2023 – A new report released today by the Insurance Institute of Business & Home Safety (IBHS) and CoreLogic® found modern building codes decreased the expected spike in post-hurricane mortgage delinquency rates by about 50 percent. Borrowers in homes built to modern building codes — which emerged in 2002 — were least likely to experience mortgage delinquency following a hurricane when all other factors were equal.