Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, is seeking to know why the Federal Housing Finance Agency blocked a Fannie Mae proposal related to force-placed insurance that its supporters say would have saved the company — and the government — millions of dollars.

In a letter sent Thursday to FHFA Acting Director Edward DeMarco, Waters requested "an explanation of the specific reasons why FHFA rejected Fannie Mae's proposal, including the documents that form the basis of the agency's view."

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