News & Resources

On March 13, USMI released a statement from President Seth Appleton congratulating Bill Pulte on his Senate confirmation to serve as Director of U.S. Federal Housing (FHFA) by a bipartisan vote of 56 to 43. In the statement, Appleton said “USMI congratulates Director Pulte on his Senate confirmation to lead FHFA and oversee critical financial institutions that facilitate more than $8 trillion in funding for the U.S. housing market.” Appleton continued, “USMI strongly agrees with Director Pulte’s statement in his nomination hearing that taking risk away from the taxpayers and giving it to the private market is a win and USMI and its members look forward to working with Director Pulte and his team at FHFA to accomplish that goal while also prudently ensuring access to sustainable mortgage credit for first-time homebuyers.” USMI’s statement received coverage from National Mortgage News, Mortgage Professionals America, National Mortgage Professionals, MortgageOrb, and Inman.

On January 16, USMI published a statement in support of Bill Pulte’s nomination to serve as Director. In the statement, Appleton welcomed Pulte’s nomination and said, “as a businessman and philanthropist, Pulte firmly understands the importance of housing and the role of private capital in the housing finance system.” Appleton continued, “once confirmed, USMI looks forward to working with Pulte to prudently ensure access to affordable mortgage credit for first-time buyers while protecting taxpayers from risk and promoting safety and soundness in the housing finance system.”

On January 31, USMI submitted a letter to Senate Committee on Banking, Housing, and Urban Affairs Chairman Tim Scott (R-SC) and Ranking Member Elizabeth Warren (D-MA) expressing strong support for Pulte to serve as the next Director of the FHFA. In the letter, USMI noted the critical role FHFA plays in overseeing Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, which collectively facilitate more than $8 trillion in funding for the U.S housing market and encouraged the Committee to swiftly consider Mr. Pulte’s nomination and advance his nomination for a full Senate confirmation vote.

On February 5, USMI released a statement from President Seth Appleton applauding Scott Turner on his confirmation by the U.S. Senate to serve as Secretary of HUD by a bipartisan vote of 55 to 44. In the statement, Appleton said, “[Turner’s] experience and expertise in housing, community development, non-profit organizations, and public service prepare him well for this important role.” Appleton continued, “with his background in the public and private sectors, we look forward to working with Secretary Turner to foster a coordinated and robust housing finance system in which private capital takes on an even greater role in enabling opportunities for homebuyers while protecting taxpayers and the government from mortgage credit risk.”

Prior to Turner’s confirmation, USMI joined a group of housing industry organizations in sending a letter to the Senate Committee on Banking, Housing, and Urban Affairs Chairman Tim Scott (R-SC) and Ranking Member Elizabeth Warren (D-MA) expressing support for Scott Turner to serve as the next HUD Secretary.

On February 16, Appleton authored an opinion piece in the Springfield News-Leader (Missouri) on the greatest challenge for prospective homebuyers in his home state. In the piece, he explains how thousands of families have been able to purchase homes with low down payment mortgages using private MI and calls for the renewal of the MI tax deduction, which more than 14,000 Missouri households claimed in 2021 before the deduction expired. “For 15 years, millions of homeowners relied on this deduction to offset some of the costs of homeownership. There aren’t that many no-brainers in Washington, D.C. This, however, is one of them,” wrote Appleton.

On January 28, USMI submitted a letter for the record for the House Committee on Ways and Means’ January 14 hearing titled “The Need to Make Permanent the Trump Tax Cuts for Working Families.” As the Committee on Ways & Means assesses the expiring and permanent provisions of the Tax Cut and Jobs Act (TCJA), USMI strongly encourages Congress to support existing homeowners and prospective homebuyers by reinstating, making permanent, and expanding eligibility for the MI premium tax deduction. The letter urged Congress to specifically include the bipartisan, bicameral Middle Class Mortgage Insurance Premium Act in tax legislation considered in 2025 and commended Representatives Vern Buchanan (R-FL) and Jimmy Panetta (D-CA), and Senators Thom Tillis (R-NC) and Maggie Hassan (D-NH) for championing this common-sense and targeted tax policy to assist working families.

In honor of Black History Month, USMI published a blog on February 26 highlighting key insights from our recent National Homeownership Market Survey as well as ways the industry and policymakers can work to make affordable and sustainable homeownership a reality for more Black families. USMI’s survey found that homeownership remains a key part of the American Dream for Black Americans. According to Black survey respondents, the most important reasons to own a home include that it is a good investment (37% selected this reason as a top choice), that it provides safety (31%), and that it provides stability (30%).

On March 19, USMI published a blog titled “New USMI Market Research Reveals American Perceptions Around Housing.” The blog discusses how new market research from USMI confirms that buying and owning a home remains a priority for Americans despite a challenging real estate market in recent years. According to USMI’s recent homeownership survey, nearly 8 in 10 Americans viewed owning a home as an important milestone, despite 58% of respondents answering that it has become harder to purchase a home in the last few years. When asked to specify what they believe is the largest challenge when buying a home, nearly 30% of respondents chose the inability to afford a down payment, a challenge that can be solved using private MI. They were unaware that it was common to qualify for a conventional mortgage with a three or five percent down payment, especially for first-time homebuyers.

On February 14, Appleton responded in American Banker to a flawed proposal from ex-Freddie Mac employees that suggested prematurely canceling private MI using automated valuation models (AVMs). Appleton called the concept a “short-sighted and risky move that could threaten housing affordability and financial stability in the mortgage finance system.” Appleton goes on to say that the idea should be rejected because it creates risk exposure to the government sponsored enterprises (GSEs), makes homeownership less affordable for new homebuyers, impedes the GSEs’ ability to build capital, and runs counter to the intent of the GSEs’ congressional charter requirements.

On February 6, HousingWire’s Brooklee Han published an article following an interview with USMI President Seth Appleton on FHA mortgage insurance premiums. In the article, Appleton is quoted as saying, “[t]he FHA can only perform its countercyclical role in the market as it capitalized well enough to be a source of strength when there is economic stress. Also, it is important to recognize that when a loan is insured by the FHA, the taxpayers are standing behind 100% of that loan.”

On February 24, National Mortgage News published an op-ed by the American Enterprise Institute’s Tobias Peter and Edward Pinto on how cutting FHA mortgage premiums would only raise home prices and expose taxpayers to greater risk. According to Peter and Pinto, “[r]ather than repeating past mistakes, FHA should hold on to its reserves and explore solutions that actually help borrowers, reduce risk, and promote long-term financial security.”

On February 23, The Wall Street Journal ran an op-ed written by Allysia Finley asserting that the FHA loan portfolio is “riskier than it was before the 2008 housing crisis,” and states that according to Pinto and Peter, “79% of FHA first-time borrowers have a month or less in financial reserves.” Finley explains that “[t]axpayers are on the hook if the FHA insurance fund—financed by premiums on mortgages it backs—goes broke paying off borrowers and servicers to prevent foreclosures. The FHA annual report to Congress doesn’t disclose the cost of such payments, and the agency didn’t furnish them on my request.”

On January 13, U.S. News & World Report published an article detailing how private MI can help potential homebuyers qualify for a home sooner. The article explains that private MI offers homebuyers an alternative to saving over $100,000 for a down payment by letting buyers enter the market sooner and avoid the costs of waiting. “There are many reasons to purchase a home and many ways to finance it without 20% down. Don’t let a small down payment stop you if it’s the right time for you to buy,” the article stated.