Mortgage Insurance Cos. of America spent US$1.02M in Q3 lobbying federal government on housing, other issues, according to disclosure report
January 7, 2011
– The Mortgage Insurance Companies of America spent $1.02 million to lobby the federal government on housing and other issues in the third quarter of 2010, according to a disclosure report.
That's down from the $1.09 million the trade group spent in the second quarter of 2010, but up from the $925,000 it spent in the third quarter in 2009.
The Mortgage Insurance Companies of America is the trade association representing the private mortgage insurance industry. Private mortgage insurance protects a lender against losses when a borrower defaults.
In the July-September quarter, the trade group lobbied the federal government on legislation related to the restructuring of government-sponsored enterprises such as Fannie Mae and Freddie Mac, according to the report filed on Oct. 19.
The group also lobbied on appropriations for housing and insurance issues involving the Department of Transportation and the Department of Housing and Urban Development; legislation to make the tax deduction on mortgage insurance premiums permanent; Wall Street and Federal Housing Administration reform; and, legislation to give HUD the flexibility to raise FHA single-family mortgage insurance premiums.
In addition to Congress, the trade group lobbied the Treasury Department, Office of the Comptroller of the Currency, Federal Deposit Insurance Commission, Securities and Exchange Commission, and the Federal Reserve System.
© 2020 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.