For Immediate Release
June 25, 2014
Statement from U.S. Mortgage Insurers (USMI)
“USMI is very pleased that Fannie Mae and Freddie Mac have announced an effective implementation date of October 1, 2014 for new mortgage insurance master policies. New master policies provide assurances about the consistent handling and payment of claims and bring greater transparency to contractual protections for lenders and investors with regard to “representations and warranties.” This important step forward is a component of meaningful reforms that will help ensure that the industry maintains a strong financial position and meets its obligations.”
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 www.usmi.org.