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.
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 Co-Chairs Rohit Gupta and Adolfo Marzol talk about how MI can improve access to credit in this op-ed published in the American Banker this month:
“USMI applauds the members of the Senate Finance Committee for voting on a bipartisan basis today to extend vital homeowner tax relief. We are particularly pleased that the bill continues to recognize the tax-deductible treatment of mortgage insurance premiums for low and moderate income borrowers.”
