Underwaterwriting: from theory to empiricism in regional mortgage markets in the US.
This article provides the theoretical foundation for the concept of “Underwaterwriting,” which
can be understood as various informational and institutional limitations related to …
can be understood as various informational and institutional limitations related to …
The effect of information about climate risk on property values
Floods and other climate hazards pose a widespread and growing threat to housing and
infrastructure around the world. By reflecting climate risk in prices, markets can discourage …
infrastructure around the world. By reflecting climate risk in prices, markets can discourage …
High water, no marks? Biased lending after extreme weather
N Garbarino, B Guin - Journal of Financial Stability, 2021 - Elsevier
Policymakers have put forward proposals to ensure that banks do not underestimate long-
term risks from climate change. To examine how lenders account for extreme weather, we …
term risks from climate change. To examine how lenders account for extreme weather, we …
Climate stress testing
We explore the design of climate stress tests to assess and manage macroprudential risks
from climate change in the financial sector. We review the climate stress scenarios currently …
from climate change in the financial sector. We review the climate stress scenarios currently …
[图书][B] Mortgage finance in the face of rising climate risk
With increasing natural disaster risk and declining flood insurance take-up, homeowners in
coastal areas may be at increasing risk of mortgage default. Banks have the ability to screen …
coastal areas may be at increasing risk of mortgage default. Banks have the ability to screen …
Mortgage finance and climate change: Securitization dynamics in the aftermath of natural disasters
Using the government-sponsored enterprises' sharp securitization rules, this paper provides
evidence that, in the aftermath of natural disasters, lenders are more likely to approve …
evidence that, in the aftermath of natural disasters, lenders are more likely to approve …
Climate change risk and the cost of mortgage credit
We show that lenders charge higher interest rates for mortgages on properties exposed to a
greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and …
greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and …
An inconvenient cost: The effects of climate change on municipal bonds
M Painter - Journal of Financial Economics, 2020 - Elsevier
Counties more likely to be affected by climate change pay more in underwriting fees and
initial yields to issue long-term municipal bonds compared to counties unlikely to be affected …
initial yields to issue long-term municipal bonds compared to counties unlikely to be affected …
Neglected no more: Housing markets, mortgage lending, and sea level rise
In this paper, we explore dynamic changes in the capitalization of sea level rise (SLR) risk in
housing and mortgage markets. Our results suggest a disconnect in coastal Florida real …
housing and mortgage markets. Our results suggest a disconnect in coastal Florida real …