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Fannie Mae Pushes Flood Risk Disclosure Standard

Friday, Jan 28 2022
Lending
Written by  The Mortgage Leader

Fannie Mae has called on the ​​Federal Emergency Management Agency to create a national flood risk reporting standard to help homebuyers. So reports Politico.

Fannie Mae2 e1615570153127 300x300The mortgage giant’s recommendation, made in a filing on National Flood Insurance Program’s floodplain management standards, aims to bring more transparency to risks from climate change.

Fannie Mae said that such disclosure might include “a property’s current flood zone designation, past property flooding events and current flood insurance coverage on the home.”

Read the full article from Politico.

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