Liberty Street Economics: The Adverse Effect of “Mandatory” Flood Insurance on Access to Credit

F E D E R A L   R E S E R V E   B A N K   o f   N E W  Y O R K LIBERTY STREET ECONOMICS   The Adverse Effect of "Mandatory" Flood Insurance on Access to Credit   Kristian Blickle, Katherine Engelman, Theo Linnemann, and João A.C. Santos   The National Flood Insurance Program (NFIP) was designed to reduce household and lender flood-risk exposure and "encourage lending." In this post, which is based on their related study, the authors show that in certain situations the program actually limits access to credit, particularly for low-income borrowers—an unintended consequence of this well-intentioned program.   READ MORE

 

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