The Joint Forum of: Basel Committee on Banking Supervision, International Organization of Securities Commissions and International Association of Insurance Supervisors has released a final paper on mortgage insurance. The paper covers market structure, underwriting cycle and policy implications. The Joint Forum has identified mortgage insurance as subject to significant stress in the worst tail events, such as the latest global financial crisis. The Joint Forum makes recommendations directed at policymakers and supervisors which aim at reducing the likelihood of mortgage insurance stress and failure in such tail events. Recommendations include requiring mortgage originators and insurers to align their interests and the maintenance of strong underwriting standards.