In an attempt to reduce costs for homeowners, the Federal Housing Finance Agency (FHFA) recently announced updated property insurance requirements for Fannie Mae and Freddie Mac. 

The most significant change is the removal of the strict Replacement Cost Value (RCV) mandate for certain property components, particularly for roofs.  

Chief Compliance Officer Kirk Stephens, CRCM, breaks down key policy updates and their effective dates. He also provides a detailed comparison of previous GSE requirements. 

View the newsletter PDF below.