“USMI commends passage by Congress last night of a one year extension of vital homeowner tax relief.  We are especially pleased that the legislation includes the tax-deductible treatment of mortgage insurance premiums for low and moderate income borrowers.  We look forward to working with Congress towards permanent enactment of this important tax relief for homeowners.”

###

U.S. Mortgage Insurers (USMI) is dedicated to a housing finance system backed by private capital that enables access to housing finance for borrowers while protecting taxpayers. Mortgage insurance offers an effective way to make mortgage credit available to more people. USMI is ready to help build the future of homeownership.  Learn more at www.usmi.org.

“On July 10, 2014, the FHFA published a Request for Input soliciting feedback on a draft of revised private mortgage insurer eligibility requirements (“PMIERs”).  FHFA initially indicated that a final version of the PMIERs would be published by year end 2014.  Since then, FHFA has advised USMI member companies that they have revised their timeline and do not expect to release final PMIERs until at least late in the first quarter of 2015.

“USMI members remain united in support of the need to update the PMIERs.  When finalized, those standards will confirm the long-term value of MI for mortgage borrowers, lenders, and taxpayers.  Accordingly, USMI will continue to work closely with FHFA and the GSEs to finalize and implement the PMIERs and urges finalization of these important standards.”

###

U.S. Mortgage Insurers (USMI) is dedicated to a housing finance system backed by private capital that enables access to housing finance for borrowers while protecting taxpayers. Mortgage insurance offers an effective way to make mortgage credit available to more people. USMI is ready to help build the future of homeownership.  Learn more at www.usmi.org.