Statement: FHFA’s Final Rule for New GSE Products and Activities

December 21, 2022

WASHINGTONU.S. Mortgage Insurers (USMI), the association representing the nation’s leading private mortgage insurance (MI) companies, issued the following statement on the Federal Housing Finance Agency’s (FHFA) Final Rule for New Enterprise Products and Activities, which will replace the 2009 Interim Final Rule that established a process for the government-sponsored enterprises (“GSEs” or “Enterprises”) to obtain prior approval for new products and provide notice for new activities:

“USMI commends FHFA for creating a more transparent and objective process for approving new GSE products and activities that builds on the pilot transparency framework announced in June 2022. This will result in proper oversight of the GSEs, ensuring that innovations do not disintermediate other market participants while keeping consumers well served. FHFA’s final rule will also promote a robust housing finance system and prudently expand homeownership opportunities by carefully considering the impact new GSE products may have on GSE and non-GSE market participants.

“USMI looks forward to continuing to work with FHFA, the GSEs, and other industry stakeholders in support of clear, consistent, and coordinated housing finance policies that best serve all home-ready consumers and protect taxpayers from undue credit risk.”

In February 2021, USMI submitted a comment letter responding to FHFA’s Notice of Proposed Rulemaking for New Enterprise Products and Activities.


U.S. Mortgage Insurers (USMI) is dedicated to a housing finance system backed by private capital that enables access to affordable and sustainable 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