Mortgage Insurer Compares FHA With Private Market at Congressional Hearing

By Brian Honea

If a loan defaults, FHA covers virtually 100 percent of loss, while MI covers first losses down to a stated coverage percentage. FHA’s policy may provide less incentive to ensure that loans are underwritten and serviced in a sensible and sustainable way, while MI’s policy may create a stronger incentive to better underwriting and good servicing, according to Gupta.

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