“Today, science and technology nonprofit First Street Foundation announced that Fannie Mae will use their high resolution, property parcel level, climate adjusted risk data to run internal research related to physical climate change impacts to the mortgage market. The data enables Fannie Mae to engage in highly granular analysis of property risk exposure to perils like flooding and wildfire to learn how it manifests today, and how it may grow and change over time due to a changing climate. Fannie Mae’s acquisition includes all of the Foundation’s current and future climate risk data, as well as access to its forthcoming Risk Factor Pro product, geared to real estate and financial professionals interested in in-depth analysis of climate risk in the housing market. “Fannie Mae plays an absolutely vital role in stabilizing the housing market and ensuring that the dream of home ownership is as widely, and sustainably available as possible,” said Matthew Eby, CEO of First Street Foundation. “Increasingly, maintaining financial stability and engaging in in-depth portfolio analysis is going to require having access to high resolution, climate risk intelligence, as a changing climate continues to threaten homes, office buildings, and other real estate across the country.” First Street Foundation’s climate risk data will offer insights into the assessment of mitigating actions against the potential impact of climate perils on homeowners and renters across the country to support Fannie Mae in its mission to provide stability and long-term sustainability for the housing market…”
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