Three US senators opened an inquiry into insurance ratings firm Demotech and whether its assessments may be exposing Fannie Mae and Freddie Mac \u2014 and ultimately taxpayers \u2014 to growing risks tied to climate-driven insurer failures.<\/p>\n
In a letter <\/a>sent Tuesday to Fannie Mae Chief Executive Officer Priscilla Almodovar and Freddie Mac interim CEO Michael Hutchins, the three Democratic lawmakers questioned why the government-backed mortgage giants continue to accept Demotech ratings as sufficient proof of insurer financial strength, despite evidence<\/a> that insurers carrying those ratings have failed at unusually high rates. In a separate letter<\/a>, they pressed Demotech on its own finances and why, in 2022, it suddenly threatened to downgrade the ratings of up to 27 insurance companies.<\/p>\n","protected":false},"excerpt":{"rendered":"Three US senators opened an inquiry into insurance ratings firm Demotech and whether its assessments may be exposing…\n","protected":false},"author":2,"featured_media":93855,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[25606,5885,50069,28,30,29,26019,1182,50072,50070,50071,50074,50073],"class_list":{"0":"post-93854","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-florida","8":"tag-chief-executive-officer","9":"tag-climate-change","10":"tag-fannie-mae","11":"tag-florida","12":"tag-florida-headlines","13":"tag-florida-news","14":"tag-freddie-mac","15":"tag-green","16":"tag-harvard-business-school","17":"tag-mortgages","18":"tag-priscilla-almodovar","19":"tag-ron-wyden","20":"tag-sheldon-whitehouse"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/93854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=93854"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/93854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/93855"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=93854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=93854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=93854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}