Fannie Mae and Freddie Mac to accept Citizens-backed property policies under temporary scheme
US mortgage providers Fannie Mae and Freddie Mac are to accept insurance policies from Florida property insurers with Citizens’ reinsurance.
The Florida Office of Insurance Regulation (FLOIR) established a temporary market stabilisation arrangement (TMSA) with Citizens in July in the event of a spate of Demotech downgrades of homeowner insurers in the state.
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