Climate change triggered by global warming will continue at an unpredictable pace and will add stress to the complex system of allocating risks across housing and housing finance stakeholders, according to a new research report by the Mortgage Bankers Association's (MBA) Research Institute for Housing America (RIHA)."The mortgage industry will not be spared by the growing impact climate change is having on the environment, governments, and individuals. The physical destruction caused by flooding and other extreme weather events will continue to influence the behavior of portfolio lenders, the GSEs, the federal government's FHA/VA programs, and mortgage investors," said Sean Becketti, author of the report and an industry veteran with over four decades of mortgage finance experience. "Climate mitigation efforts are necessary to slow the adverse effects of global warming, and better and more standardized predictors of environmental risks are needed to make housing and housing finance more resilient."
展开▼
