Month: February 2016

Press Release: USMI Announces 2016 Policy Priorities

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For Immediate Release

February 17, 2016

Media Contacts

Robert Schwartz 202-207-3665 (rschwartz@rasky.com)

USMI Announces 2016 Policy Priorities

Outlines Solutions to Protect Taxpayers and Enable Homeownership

(February 17, 2016) U.S. Mortgage Insurers (USMI) today announced its 2016 public policy priorities, aimed at helping ensure broader access to sustainable homeownership while reducing taxpayer risk.

“As policymakers look for more ways to increase the role of private capital to the make housing finance system less risky and more sustainable, USMI is well positioned to be an active voice in promoting the proven benefits and reliability of MI for taxpayers and borrowers,” stated Lindsey Johnson, USMI President and Executive Director.  “The initiatives we are announcing today offer real solutions to further the important goals of housing finance reform.”

USMI announced the following proposed policy actions to expand access to affordable credit and reduce taxpayer risk through the use of MI, including:

  • Setting and Using GSE Fees;
  • Extending and Preserving Tax Deductibility of MI;
  • Protecting Taxpayers by Expanding Use of Deeper MI in GSE Risk-Sharing;
  • Strengthening the Role of MI in Comprehensive Reform Legislation;
  • Striking the Right Balance for Taxpayers in Establishing Complementary Roles for FHA and MI; and
  • Strengthening State Regulation of MI.

A complete description of the policy initiatives can be found here.

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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.

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Statement: Polling Finds Majority Supports Using Private Capital to Reliably Reduce GSE Taxpayer Risks

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(February 16, 2016) Last week saw more activity demonstrating the value of private Mortgage Insurance as a reliable way to enhance access to mortgage credit for consumers and protect taxpayers against housing losses, particularly through greater front end risk sharing by the GSEs:

  • USMI released a new fact sheet showing how MIs are strong counterparties that reliably transfer mortgage credit risk
  • DS News reported on new polling from USMI showing strong national support for reducing GSE and taxpayer risk through increased reliance on private capital
  • USMI Chairman and Genworth MI CEO Rohit Gupta appeared at the Urban Institute /Core Logic Forum on risk sharing, “Credit Risk Transfer: Making a Successful Program Even Better.”
    • Gupta talked about the enhanced reliability and higher capital standards for MI, and how deeper MI coverage on GSE loans would almost double the amount of loss protection for the GSEs and taxpayers
    • Urban’s Laurie Goodman talked about an advantage of front end risk sharing with MI to pass savings through to consumers

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.

Poll: Results and Forum Highlight Interest for Reducing Housing Risks

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(February 10, 2016) Today, USMI released new polling results showing strong national support for reducing GSE and taxpayer risk through increased reliance on private capital. The data comes in advance of tonight’s Urban Institute /Core Logic Forum on risk sharing, “Credit Risk Transfer: Making a Successful Program Even Better.”

For more information about tonight’s Urban Institute/ Core Logic Forum CLICK HERE

To see complete topline poll results CLICK HERE

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.

Press Release: Mortgage Insurance Reliably Transfers Mortgage Credit Risk

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MORTGAGE INSURANCE RELIABLY TRANSFERS MORTGAGE CREDIT RISK

MIs are Strong Counterparties, New Capital Standards Further Enhance Reliability

(February 3, 2016) Policymakers are considering proposals to de-risk the Government Sponsored Enterprises (GSEs) through greater reliance on private capital, such as expanded up-front risk sharing using private Mortgage Insurance (MI). Today, MIs are more resilient and reliable counterparties, dedicated to providing access to housing finance credit in good and bad economic times.  The time is right to move forward to expand front end risk sharing with MI, and USMI members are ready to do more. Click here for USMI’s latest factsheet – Mortgage Insurance Reliably Transfers Mortgage Credit Risk.

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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.