On February 20, USMI joined a coalition of housing and banking industry stakeholders in sending a letter to banking regulators in support of efforts to modernize bank capital standards to strengthen financial stability and housing affordability. The groups wrote that a revised Basel III Endgame rule should support the critical role that private mortgage insurance (MI) plays in reducing risk for taxpayers while preserving and enhancing mortgage finance options for homebuyers. This includes providing loan-level capital relief commensurate with the level of private MI coverage and adjusting the Eligible Guarantor definition to include private mortgage insurers. USMI and its fellow signatories stand ready to serve as resources to regulators to assist in their bank capital modernization efforts. Click here to read the full letter.
Resource Filter: Letters
Letter: Joint Trade Letter to SEC on Prioritizing “Asset-Backed Securities Registration and Disclosure Enhancements”
Letter: Comment to SEC on “Concept Release on RMBS Disclosures and Enhancements to Asset-Backed Securities Registration”
Letter: Comment on FHFA’s Strategic Plan for Fiscal Years 2026 – 2030
Letter: Comment on FHFA’s 2026 – 2028 Enterprise Housing Goals
Letter: Joint Trade Letter to FHFA on Credit Score Models and Reports Initiative
Letter: USMI Letter for the Record for the Committee on Ways and Means’ January 14th Hearing
USMI submitted a letter for the record for the House Committee on Ways and Means’ January 14, 2025 hearing titled “The Need to Make Permanent the Trump Tax Cuts for Working Families.” As the Committee on Ways & Means assesses the expiring and permanent provisions of the Tax Cuts and Jobs Act (TCJA), USMI strongly encourages Congress to support existing homeowners and prospective homebuyers by reinstating, making permanent, and expanding eligibility for the mortgage insurance (MI) premium tax deduction. USMI specifically urges Congress to include the bipartisan, bicameral Middle Class Mortgage Insurance Premium Act in tax legislation considered in 2025 and commends Representative Vern Buchanan (R-FL) and Jimmy Panetta (D-CA), as well as their counterparts Senators Thom Tillis (R-NC) and Maggie Hassan (D-NH), for championing this common-sense and targeted tax policy to assist working families. Read the full letter here.
Letter: USMI Joins Coalition in Support of Mortgage Insurance Premium Tax Deduction
USMI joined a broad cross-section of housing industry, advocacy, and civil rights organizations in sending letters to the House Committee on Ways and Means Chairman Jason Smith (R-MO) and Ranking Member Richard Neal (D-MA) regarding the tax treatment of mortgage insurance premiums. As tax writers assess the expiring and permanent provisions of the Tax Cuts and Jobs Act (TCJA) we encourage congressional action to support existing homeowners and prospective homebuyers by reinstating, making permanent, and expanding eligibility for the mortgage insurance premium tax deduction, which was available to eligible taxpayers from 2007 through 2021.
The tax deduction for mortgage insurance premiums has long enjoyed bipartisan support, and the coalition firmly believes this targeted deduction for the benefit of low down payment borrowers is both good tax and housing policy. We urge Congress to include the bipartisan, bicameral Middle Class Mortgage Insurance Premium Act (HR 4212, S 1938) in any end of year tax package or 2025 tax reform legislation.
Click here to read the full letter to Chairman Smith.
Click here to read the full letter to Ranking Member Neal.
