<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body style="overflow-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;"><span style="color: rgb(34, 34, 34); font-family: Arial; orphans: 2; widows: 2; padding: 0px 6px 0px 0px;"><a href="https://www.google.com/url?rct=j&sa=t&url=https://www.nationalmortgagenews.com/news/cotality-2-6-million-homes-at-wildfire-risk-in-western-u-s&ct=ga&cd=CAEYAyoUMTA2NjI2ODU2NjAzOTczMDU3NDMyGmVjMTI1Nzk1OWVkODExYmE6Y29tOmVuOlVT&usg=AOvVaw2mQ28tyMp0Xt_XZjE0AvPL" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.google.com/url?rct%3Dj%26sa%3Dt%26url%3Dhttps://www.nationalmortgagenews.com/news/cotality-2-6-million-homes-at-wildfire-risk-in-western-u-s%26ct%3Dga%26cd%3DCAEYAyoUMTA2NjI2ODU2NjAzOTczMDU3NDMyGmVjMTI1Nzk1OWVkODExYmE6Y29tOmVuOlVT%26usg%3DAOvVaw2mQ28tyMp0Xt_XZjE0AvPL&source=gmail&ust=1756077528816000&usg=AOvVaw3Q_rPHAXoLVLG6XibnFCJJ" style="color: rgb(66, 127, 237); display: inline; text-decoration: none; font-size: 16px; line-height: 20px;">How big is the wildfire risk in the Western housing market? - National Mortgage News</a></span><div style="color: rgb(34, 34, 34); font-family: Arial; orphans: 2; widows: 2;"><div style="padding: 2px 0px 8px;"><div style="color: rgb(115, 115, 115); font-size: 12px;"><a style="color: rgb(115, 115, 115);">National Mortgage News</a></div><div style="color: rgb(37, 37, 37); padding: 2px 0px 0px; font-size: 12px; line-height: 18px;">Lenders, homeowners and servicers are facing a massive wildfire risk in the <b>Western U.S.</b> that extends beyond the initial burn. ... <b>drought</b> or drier ...</div></div><table><tbody><tr><td width="16" style="margin: 0px; padding-right: 6px;"><a href="https://www.google.com/alerts/share?hl=en&gl=US&ru=https://www.nationalmortgagenews.com/news/cotality-2-6-million-homes-at-wildfire-risk-in-western-u-s&ss=fb&rt=How+big+is+the+wildfire+risk+in+the+Western+housing+market%3F+-+National+Mortgage+News&cd=KhQxMDY2MjY4NTY2MDM5NzMwNTc0MzIaZWMxMjU3OTU5ZWQ4MTFiYTpjb206ZW46VVM&ssp=AMJHsmUk2FlKf6ARKNeWjqR6rGKbaq76Ew" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.google.com/alerts/share?hl%3Den%26gl%3DUS%26ru%3Dhttps://www.nationalmortgagenews.com/news/cotality-2-6-million-homes-at-wildfire-risk-in-western-u-s%26ss%3Dfb%26rt%3DHow%2Bbig%2Bis%2Bthe%2Bwildfire%2Brisk%2Bin%2Bthe%2BWestern%2Bhousing%2Bmarket%253F%2B-%2BNational%2BMortgage%2BNews%26cd%3DKhQxMDY2MjY4NTY2MDM5NzMwNTc0MzIaZWMxMjU3OTU5ZWQ4MTFiYTpjb206ZW46VVM%26ssp%3DAMJHsmUk2FlKf6ARKNeWjqR6rGKbaq76Ew&source=gmail&ust=1756077528816000&usg=AOvVaw3AKka-l8Pt0lhJTQXl5Efv" style="color: rgb(17, 85, 204); text-decoration: none;"><img alt="Facebook.png" src="cid:5236C8EB-0A9E-444F-93E4-F2B162703672" border="0" height="16" class="CToWUd" data-bit="iit"></a></td><td width="16" style="margin: 0px; padding-right: 6px;"><a href="https://www.google.com/alerts/share?hl=en&gl=US&ru=https://www.nationalmortgagenews.com/news/cotality-2-6-million-homes-at-wildfire-risk-in-western-u-s&ss=tw&rt=How+big+is+the+wildfire+risk+in+the+Western+housing+market%3F+-+National+Mortgage+News&cd=KhQxMDY2MjY4NTY2MDM5NzMwNTc0MzIaZWMxMjU3OTU5ZWQ4MTFiYTpjb206ZW46VVM&ssp=AMJHsmUk2FlKf6ARKNeWjqR6rGKbaq76Ew" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.google.com/alerts/share?hl%3Den%26gl%3DUS%26ru%3Dhttps://www.nationalmortgagenews.com/news/cotality-2-6-million-homes-at-wildfire-risk-in-western-u-s%26ss%3Dtw%26rt%3DHow%2Bbig%2Bis%2Bthe%2Bwildfire%2Brisk%2Bin%2Bthe%2BWestern%2Bhousing%2Bmarket%253F%2B-%2BNational%2BMortgage%2BNews%26cd%3DKhQxMDY2MjY4NTY2MDM5NzMwNTc0MzIaZWMxMjU3OTU5ZWQ4MTFiYTpjb206ZW46VVM%26ssp%3DAMJHsmUk2FlKf6ARKNeWjqR6rGKbaq76Ew&source=gmail&ust=1756077528816000&usg=AOvVaw2gXmCl4g02FeUlPhzWfvRX" style="color: rgb(17, 85, 204); text-decoration: none;"><img alt="Twitter.png" src="cid:E5C6529A-5120-4C6A-9D14-BCFC4C99ACB1" border="0" height="16" class="CToWUd" data-bit="iit"></a></td><td style="margin: 0px; padding: 0px 0px 6px 15px;"><a href="https://www.google.com/alerts/feedback?ffu=https://www.nationalmortgagenews.com/news/cotality-2-6-million-homes-at-wildfire-risk-in-western-u-s&source=alertsmail&hl=en&gl=US&msgid=MTA2NjI2ODU2NjAzOTczMDU3NDM&s=AB2Xq4hj0NK8ozE1gMcf-UxsMMQMoNxOoMzzoGE" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.google.com/alerts/feedback?ffu%3Dhttps://www.nationalmortgagenews.com/news/cotality-2-6-million-homes-at-wildfire-risk-in-western-u-s%26source%3Dalertsmail%26hl%3Den%26gl%3DUS%26msgid%3DMTA2NjI2ODU2NjAzOTczMDU3NDM%26s%3DAB2Xq4hj0NK8ozE1gMcf-UxsMMQMoNxOoMzzoGE&source=gmail&ust=1756077528816000&usg=AOvVaw2lkIWrzVXkt8CaOqdM2Hms" style="color: rgb(170, 170, 170); text-decoration: none; vertical-align: middle; font-size: 10px;">Flag as irrelevant</a></td></tr></tbody></table></div><div><div></div></div><div>
<meta charset="UTF-8"><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;"><br class="Apple-interchange-newline"><br></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;">-----------------</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;"><br></div><span style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none; display: inline !important; float: none;">\u201cAccess to more capital makes bigger crises feasible: every now and then, somewhere in the world, one is going to happen. </span><br style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;"><br style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;"><span style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none; display: inline !important; float: none;">\u201cIs this because the same mistakes are made again and again, or is each crisis unique? The answer is yes to both : each crisis is unique, and the same mistakes are made again and again.\u201d</span><br style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;"><br style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;"><span style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none; display: inline !important; float: none;">The Economist, \u201cA cruel sea of capital : A survey of global finance,\u201d May 3rd, 2003.</span>
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