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FHFA Issues Request for Input on Effects of Climate Change and Natural Disasters

Mayer Brown
29/01/2021

On January 19, 2021, the US Federal Housing Finance Agency (“FHFA”) became the latest federal government agency to recognize the potential impacts of climate change and natural disasters on the mortgage industry when it issued a Request for Input (“RFI”) on the risk of climate change and natural disasters to the national housing finance markets. The FHFA cited a number of reports and research on the risks of climate change to the housing market, including a Commodity Futures Trading Commission report issued last year, as part of the reason for issuing the RFI. In this Legal Update, we summarize some of the risks previously identified by the entities regulated by the FHFA, Fannie Mae and Freddie Mac and the Federal Home Loan Banks pertaining to climate change and natural disasters and FHFA’s RFI on how to identify and mitigate these risks.

 

You can read the full legal update here >>