USMI STATEMENT ON BIPARTISAN SENATE CONFIRMATION OF MARCIA FUDGE AS HUD SECRETARY

WASHINGTON — Lindsey Johnson, President of U.S. Mortgage Insurers (USMI), issued the following statement on the confirmation of Marcia Fudge by the United States Senate to serve as Secretary of the U.S. Department of Housing and Urban Development (HUD):

“In HUD Secretary Marcia Fudge, America gains a housing advocate with proven leadership and an accomplished record while serving in Congress and supporting investments in housing programs and community development. Her bipartisan confirmation comes at a critical time as many homeowners, renters, and residents of housing supported by HUD continue to experience hardships due to the COVID-19 pandemic. To strengthen the housing finance system, it is critical for federal policymakers and the industry to collaborate on policies that balance prudent risk management and access to mortgage credit. USMI and our member companies look forward to working with Secretary Fudge on making home financing more affordable, advancing fair housing, and ensuring that the government and American taxpayers are appropriately shielded from mortgage-related credit risks.

“For more than 60 years, the private mortgage insurance industry and Federal Housing Administration have played complementary roles, and we welcome the opportunity to work with Secretary Fudge to best serve borrowers and responsibly facilitate access to homeownership.”

On January 27, USMI sent Secretary Fudge a letter outlining several policies HUD should consider to ensure it is effectively promoting sustainable, affordable, and diverse homeownership.

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U.S. Mortgage Insurers (USMI) is dedicated to a housing finance system backed by private capital that enables access to 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 www.usmi.org.

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