The Federal National Mortgage Council (Fannie Mae and Freddie Mac) has simplified insurance rules and reduced borrowing costs for single-family homes and condominiums. The move is aimed at addressing rising insurance premiums and aims to lower monthly housing payments. While the roof can now be covered for its current, depreciated market value, the rest of the home will still require full RCV protection. The FHFA also simplified a complicated “maximum per-unit deductible” rule, allowing many previously priced out of the mortgage market to qualify. The agency is removing a regulation that slowed down insurance claims and increased costs.