USMI applauds the Senate for its confirmation of Pam Patenaude to be Deputy Secretary of HUD. As a longtime public servant and expert in the housing finance system, Deputy Secretary Patenaude fully understands the need for a coordinated, consistent, and transparent approach to federal housing policy across government channels.
Private mortgage insurance is a 60-year old bedrock of the housing system that for decades has helped low down payment borrowers qualify for mortgage financing—more than 25 million borrowers to date—and has provided critical credit risk protection to the government and taxpayers through numerous housing cycles.
WASHINGTON — This week, 25 members of Congress sent a letter to U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson urging him to reinstate a cut scheduled under the Obama Administration to the Federal Housing Administration (FHA) mortgage insurance premiums (MIP). The following statement can be attributed to Lindsey Johnson, USMI President and Executive Director.
Lindsey Johnson, President and Executive Director of the U.S. Mortgage Insurers (USMI), today issued the following statement on the Mortgage Bankers Association report on reform recommendations for Fannie Mae and Freddie Mac (the GSEs) and the housing finance system.
“USMI congratulates Secretary Carson on his Senate confirmation to lead the U.S. Department of Housing and Urban Development, a critical federal agency that is a component of the nearly $30 trillion U.S. housing market. We look forward to collaborating with Secretary Carson and HUD on a comprehensive and coordinated housing policy to promote a stronger and more equitable mortgage finance system that serves American taxpayers, homebuyers and lenders.
