Breaking: Senators Launch Probe Into Demotech’s Ratings in Florida

Three US senators opened an inquiry into insurance ratings firm Demotech and whether its assessments may be exposing Fannie Mae and Freddie Mac — and ultimately taxpayers — to growing risks tied to climate-driven insurer failures.In a letter 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 fi ...