October 16, 2023

FHFA director says property insurance woes keep her up

Sandra Thompson, director of the Federal Housing Finance Agency, listens during a meeting at the Treasury Department

The director of the Federal Housing Finance Authority flagged serious concerns with the trajectory of property insurance today, saying more frequent natural disasters could do “major damage” to the U.S. mortgage market.

Addressing the Mortgage Bankers Association, FHFA Director Sandra Thompson said that the “affordability and availability” of property insurance had been rocked by the rising number of natural disasters homeowners now face each year.