U.S. Mortgage Insurers (USMI), the association representing the nation’s leading private mortgage insurance (MI) companies, today announced that Adolfo Marzol will serve as the association’s new Chairman of the Board.
Over 148,000 in the state turned to private mortgage insurance to achieve homeownership, saving for a 20% down payment could take Texans 13 years.
Over 134,000 in the state turned to private mortgage insurance to achieve homeownership, saving for a 20% down payment could take Californians 28 years.
Nearly 130,000 in the state turned to private mortgage insurance to achieve homeownership, saving for a 20% down payment could take Floridians 18 years.
Over 84,000 in the state turned to private mortgage insurance to achieve homeownership, saving for a 20% down payment could take Illinoisans 11 years.
Over 64,000 in the state turned to private mortgage insurance to access homeownership, saving for a 20% down payment could take Ohioans 10 years.
In 2021, the industry helped nearly 2 million low down payment borrowers secure mortgage financing; Texas, California, Florida, Illinois, and Ohio rank as the top states for mortgage financing with private MI.
Lindsey Johnson, President of the U.S. Mortgage Insurers (USMI), today issued the following statement on the U.S. Senate’s bipartisan confirmation of Sandra Thompson to serve as Director of the Federal Housing Finance Agency (FHFA):
Use of credit risk transfer and enhanced capital requirements transformed the industry from a cyclical business to a more stable, long-term manager of mortgage credit risk.
Since 2015, the private mortgage insurance (MI) industry has used MI Credit Risk Transfer (MI-CRT) to reduce volatility in the business and bring more sources of private capital to the housing finance market.
As one arm of the federal government attempts to cool inflation and home price appreciation, another risks making things worse.
With record low housing supply and high inflation contributing to skyrocketing home prices, the barriers to owning a home may seem insurmountable.
Policy Priorities
