SAN MATEO, Calif.--(BUSINESS WIRE)--Jupiter, the trusted leader in climate risk analytics, today announced that Fannie Mae is using the company’s industry-leading product, ClimateScore™ Global, to assess the potential impacts of climate change on their mortgage portfolio backed by over 17 million U.S. single-family and multifamily residential assets.
Jupiter ClimateScore Global uses the most authoritative climate models coupled with machine learning to predict and quantify physical climate risk across multiple hazards, including flood, precipitation, extreme heat and cold, wind, drought, wildfire, and hail at 90-meter resolution.
Detailed, high-resolution data provided by ClimateScore Global helps enable Fannie Mae to identify which areas are most at risk from climate-related perils and to understand how such perils might impact their portfolio over time.
“The frequency and intensity of major natural disasters pose risks for all stakeholders in the housing system, including homeowners, renters, lenders, investors, and insurers,” said Rich Sorkin, CEO and Co-founder of Jupiter Intelligence. “Fannie Mae, which backs a significant portion of our nation’s residential home loans, is a true thought leader in the mortgage industry for taking action to understand their risks, mitigating their current and future exposure, and facilitating equitable and sustainable access to homeownership and quality affordable rental housing across America.”
Jupiter’s ClimateScore Global will offer insights into the assessment of mitigating actions against the potential impact of climate perils on homeowners and renters across the country to support Fannie Mae in its mission to provide stability and long-term sustainability for the housing market.
“We look forward to utilizing these data and analytics tools to enhance our ability to assess the potential impacts of climate change as we work with industry stakeholders in efforts to build more resilient and sustainable communities across the country,” said Tim Judge, Head of Modeling and Chief Climate Officer at Fannie Mae.
About Jupiter
Jupiter is the trusted leader in climate risk analytics for organizations looking to strengthen their climate resilience. The increasing frequency and severity of extreme weather events across the globe are having a major impact on economies, businesses, and communities. With forward-focused, rigorous methodologies, and analytics delivered by some of the best scientists in the industry, Jupiter turns sophisticated climate science into actionable data. Customers proactively assess the physical risks in their portfolios, address regulatory requirements and evaluate potential reputational concerns. To find out more, visit www.jupiterintel.com.
About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. Fannie Mae enables the 30-year fixed-rate mortgage and drives responsible innovation to make home buying and renting easier, fairer, and more accessible. To learn more, visit: fanniemae.com
