Washington-based association U.S Mortgage Insurers (USMI) has announced that Bradley Shuster, Chairman, and CEO of National Mortgage Insurance Corporation (National MI) will serve as the association's Chairman. He succeeds Patrick Sinks, CEO of Mortgage Guaranty Insurance Corporation (MGIC) and will be supported in his efforts by Vice Chair, Richard Thornberry, CEO of Radian Group Inc.
According to USMI, Shuster's appointment comes at a "significant time in the housing finance system, which remains at the center of national policy debates."
"The housing finance system continues to strengthen and make enhancements to safety and soundness that make it more resilient, and the private mortgage insurance industry has played a significant role in these improvements," Shuster said after his appointment. "As policymakers consider how to put the housing finance system on a sustainable, long-term path for the future, I am excited to serve as USMI’s Chairman to continue to champion the important role private mortgage insurance plays–and will continue to play–in facilitating responsible low down payment lending while protecting the government and taxpayers against mortgage credit risk.”
Shuster previously served as USMI’s Vice Chair. He has served as National MI’s Chairman and CEO since April 2012 and brings more than 30 years of experience in the housing finance industry to USMI’s chairmanship.
“We are excited to welcome Brad as USMI’s new Chairman. His leadership and tenure in the mortgage insurance industry will be invaluable as we continue our important work of promoting homeownership and providing Americans with access to affordable and safe mortgage financing,” said Lindsey Johnson, President of USMI. “I want to also offer my profound thanks to Pat Sinks for his commitment to USMI and tireless work as Chairman for the last two years. Pat’s efforts have been vital to USMI and the mortgage insurance industry, and we are grateful that he will continue to serve on our board of directors.”
Shuster previously served in the leadership team of The PMI Group, Inc. for over a decade and was a partner at Deloitte LLP where he served as the Partner-In-Charge of the firm’s Northern California Insurance Practice and Mortgage Banking Practice. Shuster also held several consulting positions assisting private investors in the insurance industry.