Ted Tozer is warning lenders and servicers to pay heed to the effects of climate change, which could devalue servicing and prompt repurchases. 

The former Ginnie Mae leader and housing strategist, outspoken on mortgage issues since he left his post in 2017, voiced many concerns about the threats that warming temperatures and more severe weather pose to lenders, servicers, property insurers and borrowers at the Americatalyst conference in Washington, D.C. last week.

Tozer, in an interview with National Mortgage News, defined the climate challenge for mortgage firms, which includes more guarantee fees, repurchases and devalued servicing. While acknowledging the term "climate change" is a sensitive topic among some, Tozer emphasized the industry should not focus on the causes of worsening weather but rather the impacts that changes like rising waters could have on America's housing finance system. 

This interview has been edited for length and clarity.