Newsletter: September 2023

September 22, 2023

Congress is back, and so is USMI’s newsletter, focusing on key developments in the housing finance arena. USMI President Seth Appleton will participate in Housing Finance Strategies’ #HousingDC23 event on September 26, where he will discuss key policy issues, affordability, technology, and the recent “Basel III Endgame” bank capital proposal. The Urban Institute released its updated report, “Mortgage Insurance Data At A Glance – 2023,” which showed that government-sponsored enterprise (GSE) mortgages with private mortgage insurance (MI) have been the most common execution for low down payment borrowers since 2018. Appleton also participated in the Mortgage Industry Standards Maintenance Organization’s (MISMO) Fall Summit on September 18 where he discussed upcoming GSE credit scoring changes. Following advocacy from stakeholder groups, including USMI, the Federal Housing Finance Agency (FHFA) announced additional public engagement on the updated credit score requirements. USMI issued a statement in support of FHFA’s response to the industry concerns. Read about these topics and more below.

Housing Finance Strategies’ #HousingDC23 Event
Urban Institute’s “Mortgage Insurance Data at A Glance – 2023”
MISMO Fall Summit 2023
USMI’s Statement on FHFA’s Credit Score Requirements Announcement
USMI’s Comment Letter to FHFA on GSEs’ Single-Family Mortgage Pricing Framework
Comment Letter to FHFA on Quality Control Standards for AVMs
House Financial Services Committee Hearing on “Implementing Basel III: What’s the Fed’s Endgame?”