Ginnie Mae’s Gormley signals no change to FHA MIP for now

Joe Gormley, who is expected to hand over the role of Federal Housing Administration (FHA) commissioner to Matt Jones while remaining president of Ginnie Mae, said the Trump administration is “very comfortable” with the current mortgage insurance structure for single-family home loans and reverse mortgages. “We did some streamlining in the multifamily mortgage insurance premium,” Gormley said in an exclusive interview with HousingWire, referring to the 25-basis-point reduction for all multifamily programs announced in October 2025. “And single-family, we’re very comfortable with the way it’s set now. We constantly evaluate our capital levels and what it looks like from a market perspective, I would say we’re comfortable with what it looks like.” He also mentioned the administration is “very comfortable with how the mortgage insurance premium is structured right now for the reverse program.” In October 2025, the U.S. Department of Housing and Urban Development (HUD), along with the FHA and Ginnie Mae, issued a request for information (RFI) seeking public comment on potential improvements to the Home Equity Conversion Mortgage (HECM) and HECM Mortgage-Backed Securities (HMBS) program...