June is National Homeownership Month, an important reminder that homeownership remains a cornerstone of the American dream. It is also a reminder that there is unfinished work left to do to put our housing finance system on a more sustainable footing so that more Americans will have access to prudent and affordable mortgage credit well into the future, and taxpayers are shielded from risks.
USMI delivered the following letter to members of the Senate Banking Committee:
Today, the Federal Housing Finance Administration (FHFA) published final revised Private Mortgage Insurer Eligibility Requirements (“PMIERs”), which set the requirements that private Mortgage Insurers (MIs) must meet to be eligible to insure loans acquired by Fannie Mae and Freddie Mac (the “GSEs”).
U.S. Mortgage Insurers (USMI) today submitted a response to the Basel Committee on Banking Supervision’s proposal, Revisions to the Standardised Approach for credit risk
The recent decision by the Federal Housing Administration (FHA) to lower annual mortgage insurance premiums has generated an important discussion in Washington about the roles of government and private capital in supporting homeownership, while at the same time protecting taxpayers.
The recent decision by the Federal Housing Administration (FHA) to lower annual mortgage insurance premiums has renewed the debate about the complementary roles of private Mortgage Insurance (MI) and the FHA government mortgage insurance program.
Rohit Gupta, President and CEO of Genworth Mortgage Insurance and Chair of U.S. Mortgage Insurers (USMI), testified before the House Financial Services Committee Housing and Insurance Subcommittee today on behalf of the private Mortgage Insurance (MI) industry.
USMI announced today changes in the trade association’s executive leadership. USMI Co-Chair Adolfo Marzol, Executive Vice President of Essent Guaranty, will be retiring at the end of March.
“Last November, FHA released updated information on the status of the FHA insurance fund. While progress was made in restoring the financial health of the fund, it fell well short of its 2% capital ratio mandate.
“USMI commends passage by Congress last night of a one year extension of vital homeowner tax relief…
Much attention has been directed at Federal Housing Finance Administration (FHFA) Director Watt’s recent announcement that FHFA and the GSEs are working on guidelines to expand access to 3 percent low down payment mortgages.
“USMI members welcome the announcement from the Federal Housing Finance Agency (FHFA) to expand access to 3% low down payment mortgages”
Policy Priorities
