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Ginnie Mae president says FHA MIP structure is fine for now
Ginnie Mae said FHA is maintaining the current single-family and reverse mortgage insurance premium structure after a 25-basis-point multifamily MIP cut in October 2025.
HousingWire reports that Joe Gormley, president of Ginnie Mae and expected to transition out of the Federal Housing Administration commissioner role, said the Trump administration is “very comfortable” with the current FHA mortgage insurance premium structure for single-family home loans and reverse mortgages. In comments to HousingWire, Gormley pointed to a separate change already made for multifamily, saying the October 2025 action reduced multifamily MIP by 25 basis points for all multifamily programs, while single-family remains unchanged for now. Gormley said FHA and related agencies continue evaluating capital levels and market conditions, and that ongoing work also includes issuer liquidity and FHA delinquency reporting connected to TPPs. He noted industry proposals under consideration would shift how the FHA divides mortgage insurance between upfront and annual or monthly premiums, while emphasizing the need to keep the mutual mortgage insurance fund adequately protected. HousingWire added that FHA’s Mutual Mortgage Insurance Fund held $188.9 billion in capital at the end of 2025, up $16.1 billion from fiscal 2024, with more than $100 billion of that total in cash or cash equivalents.
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