Strengthening State Regulation of MI

USMI members are working closely with the National Association of Insurance Commissioners’ Mortgage Guaranty Insurance Working Group as it updates the Mortgage Guaranty Insurance Model Act (Model Act) to strengthen state regulatory standards regarding MI. USMI members are committed to sound, prudent regulation that works in a complementary manner with PMIERs to enable a well-functioning market for borrowers, lenders, and policyholders.

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Member Spotlight: Q&A with Brad Shuster of National MI

January 11, 2022

USMI’s member spotlight series focuses on how the private mortgage insurance (MI) industry works to address several critical issues within the housing finance system, including...

USMI STATEMENT ON THE NOMINATION OF SANDRA THOMPSON AS FHFA DIRECTOR

December 15, 2021

WASHINGTON — Lindsey Johnson, President of the U.S. Mortgage Insurers (USMI), today issued the following statement on President Biden’s intent to nominate Sandra Thompson for Federal...

USMI ROUNDUP: DEVELOPMENTS IN HOUSING FINANCE

December 10, 2021

With the recent passage of the bipartisan infrastructure bill, Congress has moved onto the Build Back Better Act, which includes approximately $170 billion in funding...

"Mortgage insurance is a critical source of private capital in the mortgage finance markets."

Mel Watt - Director, Federal Housing Finance Agency Brookings Event: The Future of Fannie Mae and Freddie Mac, 5/13/14
"A government-dominated market is unsustainable. Instead, we need to attract private capital back to the market, establish certainty for lenders, and protect taxpayers for the future."

Julian Castro - United States Secretary of Housing and Urban Development Bipartisan Policy Center’s Housing Summit, 9/16
"My plea is for us to understand the value of mortgage insurance as a credit enhancement as [a way] for getting in front of the government in terms of first-loss position so that we can have a reasonable risk on a government guarantee loan but not an unreasonable guarantee for the government."

Sen. Johnny Isakson (R-GA) United States Senate USMI Forum on the Future of Housing Finance, 3/10/14
"Without legislation the best way to do that [reducing the government’s role] is through the private mortgage insurers."

Brian Gardner - Analyst, Keefe Bruyette and Woods Politico, 7/1/14
"The Private Mortgage Insurance Eligibility Requirements, recently put forth by Fannie Mae, Freddie Mac, and the Federal Housing Finance Agency, are... a thoughtful effort, these standards should succeed in ensuring that private mortgage insurers are strong counterparties to the government-sponsored enterprises and a much improved bulwark against excessive risk in the system."

Mark Zandi, Jim Parrott and Cristian Deritis - Chief economist of Moody’s Analytics, Senior fellow at the Urban Institute, Director in the Credit Analytics group at Moody’s Analytics Moody's Analytics Report Putting Mortgage Insurers on Solid Ground Report, August 2014
"Private capital should be at the center of the system...current conditions—where government guarantees more than 80% of mortgages through Fannie, Freddie and [the Federal Housing Administration]—are unsustainable."

Sec. Shaun Donovan - Former Secretary of U.S. Department of Housing and Urban Development In a speech to a National Association of Hispanic Real Estate Professionals, 2/5/14
"The master policy agreements that set out the terms by which the GSEs will do business with the MIs have been largely finalized. These actions will give the FHFA and the GSEs comfort that the MIs can meet the increasingly large demands being placed upon them."

Laurie Goodman - Center Director, Housing Finance Policy Center at the Urban Institute A Realistic Assessment of Housing Finance Reform, August 2014

About USMI

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 (MI) offers an effective way to make mortgage credit available to more people. USMI is ready to help build the future of homeownership.

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Phone: 202-280-1820
Email: media@usmi.org

Strengthening State Regulation of MI

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