By Robert Muir-Wood | May 8, 2024
Property insurance groups on Wednesday applauded a decision by Fannie Mae and Freddie Mac to hold off on an apparent plan to scrutinize mortgages on homes that don’t carry full replacement-value insurance coverage.
The decision by Fannie and Freddie to temporarily suspend enforcement of some guidelines now “creates an opportunity to speak with insurers and other stakeholders to gather more information about the problem of underinsurance, what they can do to help, and how they can best go about it,” the National Association of Mutual Insurance Companies’ Jimi Grande said in a statement Wednesday.
