Contact: MICA (202) 682–2683
Email: pat@micadc.org
MICA Issues Statement on President's Housing Stabilization Plan
The following is a statement from the Mortgage Insurance Companies of America (MICA) on the President's Homeowner Affordability and Stability Plan:
Washington, D.C. February 18, 2009—MICA is very supportive of the overarching goal of the President’s proposed plan—keeping families in their homes. We are working closely with the U.S. Treasury Department, the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac in support of the efforts to stem home foreclosures. The private mortgage insurance industry is a vital component of the nation’s housing finance system, making homeownership more affordable by helping borrowers seeking a low down payment home loan. Mortgage insurance remains an essential building block for the return of a vibrant U.S. housing market. Private sector capital can and should partner with public sector capital to support homeowners across the country. We look forward to working with the Administration to make this program a success.