Climate change

Dianne Dobbeck, head of the Federal Reserve Bank of New York's supervision group, said the banking system is sound, but potentially destabilizing risks must be monitored and addressed.

As the share of forborne loans increased for the first time in more than two years, servicers are cautiously eyeing data trends but appear equipped to handle storm-related distress.

While most would consider where their next house will be due to natural disasters, only two in five would move from their current property, Freddie Mac said.

The operational melding of highly regulated banks and less-regulated fintechs led acting Comptroller of the Currency Michael Hsu to warn of the potential for another financial crisis.

Low-income housing tax credits that incent the creation of affordable apartment units have provisions that make buildings less susceptible to damage from natural disasters, but they’re not consistent, Freddie Mac found.

While the appeal of homeownership and larger spaces led property values in many fire-prone regions to surge to new records, those areas are also seeing more frequent price drops, Redfin says.

The Federal Housing Finance Agency has indicated that lenders will be required to demonstrate policies addressing the risk on business.

Two progressive Democratic senators said they oppose the renomination of Federal Reserve Chair Jerome Powell to a second term, joining Elizabeth Warren in urging President Biden to choose someone else.

Meanwhile, nearly half of consumers are more worried about severe weather now compared to five years ago, according to Realtor.com.

A ClimateCheck score measures the risk of disaster at the zip-code level over the period of a 30-year mortgage.

Rising sea levels aren’t keeping buyers from scooping up oceanfront homes as work flexibility gives consumers wider options on where to live, according to Redfin.

Increasingly extreme weather patterns and natural disasters weigh heavy on the majority of borrowers looking to buy a house, while half will move because of it, according to Redfin.

Sen. Pat Toomey, R-Pa., warned the regional Federal Reserve bank that its papers about environmental, social and corporate governance policies hurt its ability to stay neutral on partisan issues.

As global warming intensifies storms and flooding, formerly redlined neighborhoods with majority BIPOC occupants will likely bear the brunt of the damage risk, according to a Redfin analysis.

In a request for information, the agency sought feedback on how it should prioritize climate risks as part of its supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules and more.

Innovation is key in today's dynamic market. Suni Harford, president, asset management at UBS walks us through two significant innovations she drove in the asset management industry this year — including a ground-breaking approach to climate change and sustainable investing.

HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.

Arizent's latest survey finds that respondents are sharply divided on key issues regarding the upcoming election.

Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — put banks in position to be a stabilizing force during the coronavirus crisis.