Tag Archives: climate change

“Storms, floods, fires, and heat waves are getting stronger and more frequent. They are making the human cost of our warming world all too real, especially for America's homeowners and renters,” said Tim Judge, SVP and Head of Modeling and Climate Change Officer for Fannie Mae.

Only a quarter of respondents living in medium-risk flood areas who participated in Fannie Mae’s Flood Survey were familiar with government-backed flood insurance plans, what they cover, and—more specifically—what they don’t cover.

In 2022, the Federal Housing Finance Agency began collaborating with Fannie Mae and Freddie Mac to explore the intersection of climate change, housing finance, housing policy, and community development. Here’s what they found.

As climate changes expose more U.S. housing stock to potential flood damage, the Congressional Budget Office has issued an impact report encompassing homeowners with mortgages protected by the GSEs or backed by the FHA or VA.

The OCC, FDIC, and Federal Reserve have outlined a framework for the safe and sound management of exposure to climate-related financial risks for large financial institutions. Here’s what that means for the industry.

New commentary from DBRS Morningstar highlights how the company looks at banks’ management of climate-related risks—in particular, from a credit perspective.

A clear majority of people in each region of the U.S. consider at least one type of adverse climate event when shopping for a new home, be it floods, fires, or hurricanes.

While climate change is undeniable, a new study examined the types of Americans who move to areas exposed to high climate-related risks, including wildfire, flooding, hurricanes, extreme heat, and drought. Click through to see which archetypes are moving to which regions.

Climate change does not seem to be factoring into homebuyers' decisions on where they are purchasing homes according to Redfin, as nearly 400,000 more people moved into than out of the most flood-prone counties in 2021 and 2022—an increase of 103% over the two years prior.

In a first for American financial institutions, large banks must report their exposure to climate change by July 31.