Month: February 2025
Op-Ed: Despite headwinds, homeownership remains important in Missouri and across U.S.
USMI President Seth Appleton authored an opinion piece in the Springfield News-Leader on the greatest challenges that future homebuyers face in his home state using data from USMI’s 2024 National Homeownership Survey. In the piece, he explains how thousands have been able to purchase with low down payment mortgages using private MI and calls for the renewal of a tax deduction that more than 14,000 Missourians claimed in 2021 before the deduction expired. “For 15 years, millions of homeowners relied on this deduction to offset some of the costs of homeownership. There aren’t that many no-brainers in Washington, D.C. This, however, is one of them,” said Appleton. Read the full piece here.
Op-Ed: Automated mortgage insurance cancellation is a dangerous plan
Statement: Bipartisan Senate Confirmation of Scott Turner as HUD Secretary
WASHINGTON—Seth Appleton, President of U.S. Mortgage Insurers (USMI), released the following statement on today’s confirmation of Scott Turner by the United States Senate to serve as Secretary of the U.S. Department of Housing and Urban Development (HUD) by a vote of 55 to 44:
“USMI congratulates Secretary Turner on his Senate confirmation to lead HUD. His experience and expertise in housing, community development, non-profit organizations, and public service prepare him well for this important role. Private mortgage insurance has helped nearly 39 million low down payment borrowers become homeowners, and has shielded the GSEs and taxpayers from nearly $60 billion in losses since the great financial crisis. With his background in the public and private sectors, we look forward to working with Secretary Turner to foster a coordinated and robust housing finance system in which private capital takes on an even greater role in enabling opportunities for homebuyers while protecting taxpayers and the government from mortgage credit risk. This will allow HUD to focus its efforts on its critical mission of safely and soundly assisting traditionally underserved borrowers.”
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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.
