Real Estate

Mortgage giant Fannie Mae tackles climate risk


Global warming has already caused irreversible damage to the earth’s ecosystems and communities, according to a critical report just issued from the United Nations Intergovernmental Panel on Climate Change.

The damage is extending to the U.S. housing market, which just saw unprecedented snow and flooding in California, as well as unusual winter tornados in the south. All that came after one of the worst hurricanes on record in Florida last year.

These changes have profound implications for the nation’s nearly $12 trillion mortgage market.

Hurricane winds are getting stronger, common storms are getting wetter, wildfires are spreading faster —and millions of U.S. homes sit in the path of…


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