US Mortgage Insurers

What US Mortgage Insurers does

U.S. Mortgage Insurers (USMI) is a Washington, DC-based industry trade association representing the nation's leading private mortgage insurance companies: Enact, Essent, MGIC, National MI, and Radian. Founded on the industry's 1957 origins, USMI's core function is advocacy and policy engagement rather than product development — it does not sell technology, insurance products, or consumer-facing services. Its substantive output is a combination of policy advocacy (engaging the Federal Reserve, FDIC, OCC, FHFA, and Congress on bank capital, GSE standards, and housing finance reform), market data publications (PMI by the Numbers, MI by State, Strength and Resiliency Report, Credit Risk Transfer analysis, Homeownership Market Survey), and coalition-building with housing and banking industry stakeholders. The association is governed by a Board of Directors composed of executives from its member companies, currently chaired by MGIC CEO Tim Mattke.

USMI's business model is member-funded through recurring membership dues paid by its five private mortgage insurance companies. It operates with a small leadership team — President Seth Appleton (former HUD Assistant Secretary and MISMO President), Government Relations VP Brendan Kihn, and VP/Senior Counsel Christina Brown (former Acting Principal Deputy General Counsel at HUD). The association's go-to-market is a sales-led, enterprise advocacy motion directed at policymakers, banking regulators, and housing industry stakeholders rather than commercial buyers. USMI distributes content through its website, email newsletter, LinkedIn, and Twitter/X accounts, and amplifies its positions via press releases, regulatory comment letters, and joint coalition filings.

USMI's strategic agenda in 2026 has centered on three fronts: (1) influencing proposed bank capital rules so that private mortgage insurance receives capital recognition comparable to its risk-mitigation function; (2) supporting the Sustainable Homeownership Act (H.R. 9460), legislation aimed at expanding access to affordable home financing; and (3) advocating for appraisal modernization and tax deductibility of mortgage insurance premiums. The association's quantified industry outcomes — 800,000+ borrowers helped in 2025, $311 billion in MI-backed originations, 65% first-time homebuyer share, and a 25% decline in MI premium rates since 2017 — frame its advocacy that private capital should sit ahead of taxpayer exposure in the housing finance system.

Name

US Mortgage Insurers

Legal name

U.S. Mortgage Insurers

Website

https://usmi.org

Company type

Private

Founded year

1957

Operating status

Operating

Short description

U.S. Mortgage Insurers (USMI) is a Washington, DC-based trade association representing the nation's leading private mortgage insurance companies (Enact, Essent, MGIC, National MI, Radian). It advocates for housing finance policy, publishes market data, and engages regulators to expand low-down-payment mortgage access.

Ownership category

akta.pro rank

Product category

Mortgage Insurance Trade Association

NAICS

Finance and Insurance (52)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Private Mortgage Insurance (PMI) — Borrower-Paid (BPMI) (FSALAJAA)

akta.pro secondary industry

Private Mortgage Insurance (PMI) — Lender-Paid (LPMI) (FSALAJAB)

Keywords

• Mortgage insurance advocacy
• Housing finance policy
• Private mortgage insurance
• Credit risk transfer
• Homeownership access

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership dues and industry association activities: USMI is funded through membership dues from its member companies (Enact, Essent, MGIC, National MI, Radian). The association does not generate revenue from product sales but operates to advance the interests of the private mortgage insurance industry.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

USMI is an industry trade association that represents the leading U.S. private mortgage insurance companies (Enact, Essent, MGIC, National MI, Radian). It conducts policy advocacy with federal regulators and Congress, engages on housing finance reform, publishes market data and research, and educates the public on the role of private mortgage insurance in expanding homeownership access while protecting taxpayers.

Product overview

USMI is an industry association representing the nation's leading private mortgage insurance (MI) companies: Enact, Essent, MGIC, National MI, and Radian. The organization advocates for housing finance policy, provides market data and research, and promotes the value of private MI in enabling homeownership without requiring a 20% down payment. USMI's core offering is its advocacy and policy platform, supported by products including the 'PMI by the Numbers' market data report, 'MI by State' state-level analysis, the annual 'Strength and Resiliency Report' documenting industry safeguards, 'Credit Risk Transfer' analysis, and the 'Homeownership Market Survey'. Private MI serves as the first layer of private capital protecting the housing finance system, protecting lenders, the GSEs (Fannie Mae and Freddie Mac), and taxpayers from mortgage credit risk.

Differentiator

Problem solved

Functional benefit

Products and services

• USMI Association Services Core association services including policy advocacy before Congress and federal regulators (Federal Reserve, FDIC, OCC, FHFA), housing finance policy research, coalition building with banking and housing stakeholders, and public education on private mortgage insurance.
• Private Mortgage Insurance (MI) Mortgage insurance offered by USMI member companies that allows borrowers to qualify for mortgages with as little as 3% down payment instead of 20%. Serves as the first layer of private capital protecting lenders, GSEs (Fannie Mae and Freddie Mac), and taxpayers from mortgage credit risk on high-LTV loans.
• Annual Strength and Resiliency Report Annual report documenting the financial strength and risk management practices of the U.S. private mortgage insurance industry, including safeguards such as PMIERs and industry performance metrics.
• Credit Risk Transfer Data and Analysis Data and analysis on credit risk transfer transactions involving private mortgage insurers that bring additional private capital into the U.S. banking system to absorb mortgage credit risk.

Quantifiable outcome

• Helped 800,000+ borrowers in 2025, accounting for $311 billion in originations
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered major, core and supporting.

• Federal Reserve, FDIC, and OCCmajorOthers · 22 June 2026USMI submitted comment letters to banking regulators in response to proposed rulemakings on Regulatory Capital Rules. USMI urged recognition of private MI in bank capital regulations to increase access to mortgage credit and make homeownership more affordable.
• Housing and Banking Industry CoalitionmajorStrategic or Co-development Partner · 20 February 2026USMI joined a coalition of housing and banking industry stakeholders in sending a letter to banking regulators in support of modernizing bank capital standards to strengthen financial stability and housing affordability. Coalition advocated for revised Basel III Endgame rule to support private mortgage insurance's role in reducing risk for taxpayers.
• MGICcoreOthersMGIC (Mortgage Guaranty Insurance Corporation) is a founding member company of USMI and one of the nation's leading private mortgage insurance companies. MGIC CEO Tim Mattke serves as Chairman of the USMI Board of Directors.
• EnactcoreOthersEnact Holdings, Inc. (Nasdaq: ACT) is a founding member of USMI. President & CEO Rohit Gupta previously served as Chairman of the USMI Board of Directors.
• EssentcoreOthersEssent Guaranty, Inc. is a founding member of USMI, one of the nation's leading private mortgage insurance companies.
• National MIcoreOthersNational MI is a founding member of USMI. President & CEO Adam Pollitzer serves as Vice Chairman of the USMI Board of Directors.
• RadiancoreOthersRadian Guaranty Inc. is a founding member of USMI. Senior Executive Vice President Meghan Bartholomew serves as Treasurer & Secretary of the USMI Board of Directors.
• MillimansupportingTechnology or IntegrationThird-party actuarial firm whose analysis of more than 90 million loans over 25 years found that private MI reduces net loss severity on insured high-LTV loans to below the gross loss severity observed on loans with LTVs between 60% and 80%.
• Fannie Mae and Freddie Mac (the GSEs)coreOthersUSMI members provide private mortgage insurance that protects loans acquired by Fannie Mae and Freddie Mac, serving as the first layer of credit protection in the housing finance system.

Scale indicators12 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• National Association of Home Builders: NAHB is a large trade association representing home builders, remodelers, and housing-related firms. It shares USMI's federal advocacy posture on housing affordability and access, but operates across a broader (builder-side) portion of the housing value chain rather than focusing on mortgage credit.
• National Association of REALTORS: NAR is the largest US trade association for residential and commercial real estate professionals. It engages in similar federal advocacy and policy work on housing finance issues but represents real estate brokerage practitioners rather than mortgage credit insurers.
• American Bankers Association: ABA is the largest US banking trade association, representing banks of all sizes. It is a frequent counterparty/coalition partner of USMI in bank capital rule advocacy and engages on overlapping housing finance policy issues, though from a bank-lending perspective rather than MI.

Emerging players

• National Association of Mutual Insurance Companies: NAMIC is a national insurance industry trade association that represents mutual and member-owned insurers. It shares the insurance-industry trade-association model with USMI but covers property/casualty mutuals broadly rather than specializing in mortgage credit enhancement.
• Community Home Lenders of America: CHLA is a smaller mortgage-industry trade group focused on community and non-bank lenders. It operates a comparable federal advocacy and policy model to USMI but represents a different segment of the mortgage finance ecosystem (community lenders vs. private MI carriers).

Others

• Consumer Financial Protection Bureau: CFPB is the federal regulator for consumer financial products including mortgages. While not a trade association, it is the principal US rulemaker on residential mortgage lending and thus a key counterpart in USMI's regulatory advocacy work on mortgage credit and bank capital policy.
• Structured Finance Industry Group: SFIG is a member-based trade organization for the structured finance and securitization industry. It is thematically related to USMI because private MI is closely tied to mortgage securitization and credit risk transfer, though SFIG represents the broader securitization market rather than mortgage insurance specifically.

Direct peers

• Insurance Information Institute: III is a non-profit industry communications organization that represents the US property/casualty and life insurance sectors, performing policy advocacy, public education, and industry data — a closely analogous trade-association model applied to the broader insurance industry that USMI applies specifically to private MI.
• Mortgage Bankers Association: The MBA is the leading national trade association for the real estate finance industry, representing mortgage bankers, lenders, and servicers. Like USMI, it conducts federal advocacy, publishes industry data, and engages regulators on capital and housing-finance policy, making it the closest functional peer in mortgage-industry representation.
• American Land Title Association: ALTA is the national trade association for the title insurance industry. It shares USMI's role as a specialty mortgage-finance trade association focused on a specific credit-enhancement product within the housing finance system and engages similarly in federal advocacy on housing policy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/USMI_info
• LinkedInlinkedin.com/company/u-s-mortgage-insurers

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about US Mortgage Insurers