The governments many agencies that police the mortgage industry continue to do what they do best…
…which is pass new regulations with the intention of “protecting the public” that ends up costing the public big time.
Case in point: Private mortgage insurers could be forced to raise their prices if Federal Housing Finance Agency’s PMI eligibility requirements go into effect as proposed.
The proposal would require all PMI’s to hold more assets (and eventually more capital) on their books to comply with the new regulations.
The result of these new regulations would be that all conventional mortgages with mortgage insurance would be more expensive for the consumer.
I will continue to watch this and let you know if these regulations actually go into effect.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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