Newsletter: July 2022
We are in the midst of DC’s summer heat, and housing policy remains a hot topic ahead of the August congressional recess. Notably, the House Ways & Means Committee and the Senate Finance Committee held hearings on housing-related tax policies. A focus at both hearings was tax incentives to promote affordable housing opportunities, including legislation that would expand and make permanent the federal tax deduction for middle-income families who use mortgage insurance (MI) to secure home financing. Additionally, House Republicans urged the Federal Housing Finance Agency (FHFA) to increase oversight of Fannie Mae and Freddie Mac’s activities. USMI shared a message from its new Chairman Adolfo Marzol highlighting how the private MI industry has served the housing finance system for 65 years. We dive into all this and more below.