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Climate Risk in Mortgage Markets: Evidence from Hurricanes Harvey and Irma Pedro Getey, Athena Tsouderouz January 2023Abstract Using a new nancial product, the Credit Risk Transfers (CRTs) issued
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What is climate risk in mortgage?
Climate risk in mortgage refers to the potential financial risks associated with climate change that could impact the value of real estate collateral, such as property damage from natural disasters or changing environmental conditions.
Who is required to file climate risk in mortgage?
Lenders and financial institutions that issue mortgages, particularly those that are backed by government entities or are subject to regulatory oversight, are typically required to file climate risk assessments.
How to fill out climate risk in mortgage?
To fill out climate risk in mortgage documents, lenders need to assess the property's exposure to climate risks, gather relevant data on environmental impacts, and report findings according to regulatory guidelines.
What is the purpose of climate risk in mortgage?
The purpose of assessing climate risk in mortgage is to evaluate the potential impact of climate change on property values, help mitigate financial risks for lenders, and promote sustainable lending practices.
What information must be reported on climate risk in mortgage?
Information that must be reported includes the property's vulnerability to climate hazards, potential financial impacts, mitigation strategies, and any existing protective measures.
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