Statement by USMI on Status of PMIERs

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Dec 03, 2014, 03:58 ET

WASHINGTON, Dec. 3, 2014 /PRNewswire-USNewswire/ -- On July 10, 2014, the FHFA published a Request for Input soliciting feedback on a draft of revised private mortgage insurer eligibility requirements ("PMIERs"). FHFA initially indicated that a final version of the PMIERs would be published by year end 2014. Since then, FHFA has advised USMI member companies that they have revised their timeline and do not expect to release final PMIERs until at least late in the first quarter of 2015.

USMI members remain united in support of the need to update the PMIERs. When finalized, those standards will confirm the long-term value of MI for mortgage borrowers, lenders, and taxpayers. Accordingly, USMI will continue to work closely with FHFA and the GSEs to finalize and implement the PMIERs and urges finalization of these important standards.

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SOURCE U.S. Mortgage Insurers