Climate change could have serious impacts on the mortgage industry, and stakeholders should take action now. That is the recent urgent message from federal regulators and mortgage industry stakeholders.
Recent reports and initiatives from the Mortgage Bankers Association’s Research Institute for Housing America, the White House, the Departments of Housing and Urban Development, Veterans Affairs and Agriculture, as well as the Financial Stability Oversight Council, are the latest in a movement by regulators and other mortgage industry stakeholders to measure and mitigate climate change-related risk. The reports consistently recommend that regulators and industry actors begin taking steps to identify and measure this risk.
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