FHA Lowered and Streamlined the Mortgage Insurance Premiums FHA is reducing the Mortgage Insurance monthly factor eliminating the distinction in rates based upon the base loan amount. As you can see … [Read more...]
FHA Annual MIP (MMI) change is a substantial savings in the monthly payment
The new MMI changes go into effect on January 26, 2015. I made those changes to the REALPRO for Windows program, the REALPRO and the REALPRO Plus. I will be making more changes to the REALPRO for … [Read more...]
FHA To Reduce Annual Insurance Premiums
The new MMI changes go into effect on January 26, 2015. I made those changes to the REALPRO for Windows program, the REALPRO and the REALPRO Plus. I will be making more changes to the REALPRO for … [Read more...]
FHA Maximum Loan Amounts have decreased
The FHA Maximum Loan Amounts changed for 2014. Keep this in mind when you are working with your clients. If your county is not on this list click here to find your specific … [Read more...]
FHA to change Annual Mortgage Insurance (Annual MIP) Cancellation Policy on June 3, 2013
Reminder of the June 3, 2013 Effective Date for Mortgagee Letter (ML) 2013-04 – Revision of Period for Assessing Annual Mortgage Insurance Premium (MIP); Changes to Annual MIP for Mortgages with Terms … [Read more...]
FHA Monthly MI increases on April 1, 2013
The FHA Annual Mortgage Insurance increased on April 1, 2013. This applies to the Annual MI, not the UFMIP (Upfront Mortgage Insurance Premium) typically financed into the loan. I have included a … [Read more...]
House Passes FHA’s Fiscal Solvency Act
The Federal Housing Administration (FHA) Fiscal Solvency Act of 2012 has been passed by the full House of Representatives by a vote of 402-7. The Fiscal Solvency Act includes provisions to strengthen … [Read more...]
FHA Streamline Refi Annual MI and Upfront MIP effective June11, 2012
Mortgagee Letter 12-4 For all SF Forward Streamline Refinance transaction that are refinancing FHA loans endorsed on or before May 31, 2009, the Annual MI will be 55 bps, regardless of the base loan … [Read more...]
FHA increased the Annual Mortgage Insurance Premium
On June 11, 2012, FHA increased the Annual Mortgage Insurance Premium on Mortgages with a High Outstanding Base Loan Amount. This will affect areas with the higher Maximum Loan Amounts on FHA. The … [Read more...]
Termination of the HOPE for Homeowners (H4H) Program
New FHA Mortgagee Letter: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING FEDERAL HOUSING COMMISSIONER Date: June 10, 2011 To: All … [Read more...]
FHA Mortgage Insurance to increase April 18 2011
On February 14, 2011 a new Mortagee Letter 11-10 was published. The changes announced were regarding the Annual Mortgage Insurance Premium and information regarding how the future of current Case … [Read more...]
Reminder: The new FHA MIP and MI changes are about to go in effect October 4, 2010
Comparison Printout From the Desk of David H. Stevens Over the past week, Congress has taken quick action and passed H.R. 5981.The bill gives FHA the authority to adjust its annual mortgage … [Read more...]