Millions of mortgages and insurance agents at risk if Demotech S ratings applied: FAIA
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Millions of mortgages and insurance agents at risk if Demotech S ratings applied: FAIA

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The Florida Association of Insurance Agents (FAIA) has outlined why downgrades to Demotech S ratings are so problematic for mortgages and insurance agents in a letter to members.

The agency explained that while Florida law does not require an insurance company to be rated, the secondary mortgage market, dominated by Fannie Mae and Freddie Mac, which back roughly 62% of all residential mortgages, does.

“Because

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