Climate Risk Data for Credit Unions: Assessing and Mitigating Mortgage Lending Risks
At the recent ACUMA National Conference, Polygon Research sponsored a breakout session titled "Don't Let Disaster Spell Disaster." Moderated by Sherry Galitz of Union Home Mortgage (uhm.com), this session brought together industry experts to discuss the challenges of climate-related risks in housing finance.
Val Buresch, founder of Polygon Research, joined Amanda Phillips (https://www.acesquality.com) and Michael Christians (https://www.mchristiansconsulting.com) on the panel. Val shared her insights on the value of using open data for disaster risk analysis, emphasizing how credit unions can leverage tools like NOAA’s Billion Dollar Disasters Dashboard, FEMA’s NRI Dashboard, and Polygon Research’s own solutions (ACS PUMS, HMDA LAR, MBS Loan-Level) to assess and mitigate their exposure to climate-related risks.
The panel explored a range of topics, including flood insurance policies, the impact of climate risk on property values, and how data can guide decision-making for both new construction and existing homes. Val underscored how open data provides a critical foundation for understanding community dynamics and financial risk, ensuring that credit unions are equipped to protect both their portfolios and their members.
For credit unions looking to take proactive steps in disaster risk management, Polygon Research offers a comprehensive resource: Credit Unions' Guide to Disaster Risk Analysis with Open Data. This guide provides practical strategies to assess climate-related risks and navigate the evolving landscape of mortgage lending.
You can download the Guide here
Climate Risk Guide for Credit Unions 2024 (polygonresearch.com)
Polygon Research remains committed to helping financial institutions harness the power of open data to face today's challenges and safeguard their future.
