McDowell led a letter urging FHFA to revisit guidance that restricted Actual Cash Value (ACV) homeowners insurance policies for federally backed mortgages.
Support actions to restore consumer choice in homeowners insurance for federally backed mortgages and reduce entry-level housing costs.
Occurrences
He then applauded the administration's action restoring consumer choice in the housing market and lowering entry-level homeownership costs.
Evidence
McDowell said he applauded FHFA's action to address federal guidance that had limited consumer choice in homeowners insurance and increased entry-level costs for families buying a home. He said the change restored common-sense consumer choice to the housing market.
FHFA announced that Fannie Mae and Freddie Mac would remove certain homeowners insurance requirements, accept actual cash value roof coverage in some cases, and reduce costs for homebuyers and condo owners.
Assessments
The promise was framed as supporting actions to restore consumer choice in homeowners insurance for federally backed mortgages and reduce entry-level housing costs, not as solely enacting a standalone bill himself. During McDowell's current federal term, FHFA announced that Fannie Mae and Freddie Mac would remove certain homeowners-insurance requirements and accept more flexible roof coverage in some cases, explicitly aiming to reduce costs for homebuyers and condo owners. McDowell publicly backed that action, and the record provided credits him with materially pushing for the change. Given that the relevant federal policy change occurred while he was in office and matched the substance of the promise, this is best scored as delivered in the same term.