WASHINGTON, Dec. 10 -- Sen. Deb Fischer issued the following op-ed:
U.S. Senator Deb Fischer (R-NE) sent a letter with her colleagues, led by Senator Eric Schmitt (R-MO), to Federal Housing Finance Agency (FHFA) Director William "Bill" Pulte calling for the repeal of a Biden-era guidance that would prohibit actual cash value (ACV) homeowners insurance policies for federally-backed mortgages.
In 2024, at the direction of Biden's FHFA, new policy from Freddie Mac and Fannie Mae required replacement cost value (RCV) homeowners insurance coverage nationwide. This one-size-fits-all approach ignores the reality of America's diverse housing market and would make homeownership more unaffordable, especially in rural communities where appraisals fr...