Lawmakers approved the first $500 million for the program as a trailer bill to the fiscal 2023 budget. Bonds may be used to fill the gap.

New York Fed researchers found that banks operating in areas hit by tornadoes, floods and other calamities weren’t financially hurt by those disasters. That surprising result comes with significant caveats, however.

About 3.3% of loans in the deal fall into the 600-649 FICO bucket on the current Sunnova Helios VIII, 2022-A, compared with a 1.2% level in the 2021-C deal.

The North Carolina company has estimated the degree of exposure to flooding and hurricanes that exists in its mortgage and commercial loan books and has tallied its losses from severe storm damage in recent years. It’s one of a few regional banks to publish assessments based on the criteria of a global task force.

Join industry experts to explore how financial institutions can better prepare for future compliance issues associated with the evolving landscape.

Climate First Bank in St. Petersburg, Florida, is offering loans for condominium improvements that will reduce carbon emissions while fortifying buildings against serious weather events. More banks may implement similar programs in the years ahead.

The deal was constructed under Angel Oak’s social-bond framework, in which the firm intends to use the proceeds to help finance residential loans for underserved borrowers.

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.

The former property-assessed clean energy program administrator plans to sell off assets via Chapter 11, but PACE securitizations through its bankruptcy-remote trusts will continue to be backed by homeowner ad valorem assessments.

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.