Seth Appleton, president of U.S. Mortgage Insurers, issued the below statement on proposed mortgage insurance policy changes announced by Director of Federal Housing (FHFA) Bill Pulte:
“USMI supports the work of Director Pulte and the Trump Administration to improve housing affordability. Private mortgage insurance helps homebuyers achieve the dream of homeownership without the need for a large cash down payment and it has become even more affordable in recent years with premium rates declining 25% or more since 2017, driven by robust competition in the market and lower corporate tax rates enacted during President Trump’s first term. Aligning Fannie Mae with Freddie Mac’s policy so servicers can proactively reach out to borrowers is an action that we support.
“In 2025 alone, private MI saved the average homebuyer $48,000 in cash due at the closing table. And, starting this year, the Working Families Tax Cuts Act restored the deductibility of private and government MI premiums for eligible households, making low down payment homeownership even more affordable.
For more information on the many benefits of private MI, including its temporary nature, please visit our website.”
