The provision, expected to raise $30 million for FHA quality assurance efforts, would allow the Department of Housing and Urban Development to charge a fee of no more than 4 basis points.
Mortgage insurers are interested in moving forward with a year-old MBA proposal for a risk-sharing program that would allow deeper MI coverage on loans with high loan-to-value ratios.
The MBA’s legal counsel tried to begin by focusing on the dividing line between interpretative rules and legislative rules, but soon found herself having to defend the trade group’s support for the DOL’s original 2006 position.