Fannie Mae is a US government-sponsored enterprise which buys up mortgages from banks, packages them, and sells to investors. Their rules largely dictate what kinds of mortgages are available in the US.
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Not sure I’d want to take risk management advice from the mortgage-backed securities ghouls who crashed the economy 15 years ago, but okay I guess.
Also, it’s clearly not working, because you can’t buy insurance 100 years out. All the insurance companies do is jack up the prices every year until a property becomes uninsurable. As for house prices, the lower cost and therefore most at-risk ones are the only options for the poor. They have no options but to take the risk.
