Removing Barriers Blog

CUNA Makes Suggestions to HUD to Reduce Regulatory Burden
Posted June 14,2017 by CUNA Advocacy

CUNA filed its comment letter today in response to the Department of Housing and Urban Development’s request for information to implement Executive Orders 13771 on Reducing Regulation and Controlling Regulatory Costs and Order 13777 on Enforcing the Regulatory Reform Agenda.  HUD requested comments in identifying existing regulations that may be outdated, ineffective, or excessively burdensome. 

In the letter, CUNA paid particular attention to urging the Federal Housing Administration to adjust mortgage premiums to accurately reflect risk to the Mutual Mortgage Insurance (MMI) noting that their decision to suspend the scheduled reduction in the Mortgage Insurance Premium (MIP) despite the fact that the MMI fund had achieved an exceeded the required 2 percent level during the previous year.  CUNA urged HUD to appropriately calibrate the MIP accordingly balancing the policy goals of affordability and sustainability.  

A copy of the letter can be viewed here