The Federal Housing Finance Agency (FHFA) will reportedly jettison a previously announced plan to lower force-placed insurance premiums for homeowners.
CUNA News reports that the FHFA will create a working group that will study the force-placed insurance issue. No timeline was announced on when the working group would be formed and when it would issue its findings.
‘This is a responsible and measured approach to put policy in place that is beneficial for both government-sponsored enterprises, consumers, and the industry at large,’ says Meg Burns, senior associate director at the FHFA's Office of Housing and Regulatory Policy.
