June 26, 2026 USMI Statement on Introduction of the Sustainable Homeownership Act (H.R. 9460)

June 26, 2026

WASHINGTON - Seth Appleton, President of U.S. Mortgage Insurers (USMI), today released the following statement regarding the introduction of H.R. 9460, the "Sustainable Homeownership Act," by Rep. Scott Fitzgerald (WI-05):

"We applaud Rep. Fitzgerald's thoughtful approach and are pleased to support H.R. 9460, which includes important policies to advance access to affordable home financing for creditworthy borrowers nationwide, while promoting safety and soundness in the housing finance system.

"Among its key provisions, H.R. 9460 would ensure that private capital continues to meaningfully reduce the loss severity of low down payment loans that default, absorbing risk ahead of lenders, the government-sponsored enterprises, and taxpayers; foster transparency around new products, activities, and pilots; and prohibit piggyback mortgages, which allow borrowers to take out multiple loans for the same home purchase and performed poorly during the Great Financial Crisis.

"For nearly 70 years, the private MI industry has served first-time and working-class homebuyers throughout the country who don't have the resources for 20% down payments and USMI's members help hardworking Americans buy homes sooner throughout all housing market cycles. We commend Rep. Fitzgerald for his efforts to make homeownership more attainable and sustainable, while ensuring that private capital - not the taxpayer - continues to bear a greater share of mortgage credit risk."

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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 .