Statement on Revised Private Mortgage Insurer Eligibility Requirements
Today, Fannie Mae is announcing that it has revised its Private Mortgage Insurer Eligibility Requirements. The revised requirements can be found here, and a frequently asked questions document can be found here.
Draft requirements were announced in July of 2014, and market participants were given the opportunity to provide input.
Andrew Bon Salle, Executive Vice President-Single Family Business made the following statement:
“Mortgage insurance is a critical part of helping families have access to mortgages that they can afford for the long run. We are pleased to finalize these requirements, which will help ensure that our mortgage insurance partners are strong counterparties in the future. The publication of these requirements marks a significant milestone in restoring confidence in the private mortgage insurance industry, and will enhance their key role in providing private capital support for our business.”