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For Immediate Release

April 17, 2015

Media Contacts

Robert Schwartz 202-207-3665 (
Michael Timberlake 202-207-3637 (

USMI Statement on Final Mortgage Insurer Eligibility Requirements (PMIERs)

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”). The PMIERs include new risk-based financial requirements for MIs. USMI appreciates the efforts of FHFA and the GSEs to work with all interested parties to finalize the updates to the PMIERs.

USMI member companies are united in support of this important effort, and are committed to fully comply with PMIERs.  Finalizing the PMIERs is an important milestone for the MI industry. Lenders, investors and other mortgage market participants can now have even more confidence in the value and financial strength of MI. USMI member companies encourage FHFA to apply these standards to all providers of credit enhancement to the GSEs to ensure our housing system remains strong and stable.

With PMIERs finalized, the industry is positioned to be in the forefront of efforts to meet the important goal of putting more private capital at risk ahead of taxpayers, including by providing upfront risk sharing and deeper MI coverage for the GSEs. USMI member companies stand ready to work with the GSEs, lenders and regulators on improving access to credit and homeownership for consumers.

The MI industry has recapitalized, attracted new entrants, and finalized new master policies that provide greater clarity and transparency regarding when and how MIs pay claims. Since the GSEs entered conservatorship, MI has covered over $44 billion in claims to the GSEs alone, resulting in a substantial savings to taxpayers.

USMI members are also continuing to work 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 update state regulation of MI. USMI members are committed to sound prudential regulation and requirements that work in a complementary manner to enable a stable and well-functioning housing finance market.


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


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