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Fannie Mae and Freddie Mac cancel some homeowner insurance requirements
The Federal Housing Finance Agency (FHFA) issued an announcement stating that Fannie Mae and Freddie Mac have canceled certain homeowner insurance-related requirements. Fannie Mae and Freddie Mac will now accept insurance coverage for single-family homes and condominium unit roofs at actual cash value. The Federal Housing Finance Agency said that the relevant organizations also simplified the “maximum deductible for a single housing unit” rule.