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Mortgage Insurance Cos. of America Spent $1.12 Million in 2Q to Lobby on Housing, Insurance

Source: AP

Posted on 15 Aug 2011

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The Mortgage Insurance Companies of America spent $1.12 million to lobby the federal government on housing, insurance and other issues in the second quarter of 2011, according to a disclosure report.

That’s up about 11 percent from the $1.01 million the trade group spent in the first quarter, and up 2.8 percent from the $1.09 million it spent in the second quarter last year.

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 April to June quarter, the trade group lobbied Congress on legislation related to the restructuring of government-sponsored enterprises such as Fannie Mae and Freddie Mac, according to the report filed on July 20.

The group also lobbied on measures involving a refinancing program run by the Federal Housing Administration, appropriations for housing and insurance issues involving the Department of Transportation and the Department of Housing and Urban Development; Wall Street reform; and, legislation to make the tax deduction on mortgage insurance premiums permanent.