Some great news regarding MIP! The Federal Housing Administration will lower mortgage insurance premiums for borrowers who refinance their loans as part of President Barack Obama’s plan to improve the housing market. The FHA will reduce up-front premiums to 0.01 percent of total loan amount from 1 percent under the plan announced by Obama. [...]
Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.
Effective for FHA loans for which the case number is assigned on or after October 4, 2010 the Upfront Mortgage Insurance will decrease from 2.25 to 1.00 (100 basis points) on most FHA insured loans except Home Equity Conversion (HECM – “reverse mortgage”). Chances are you have heard this or some version of it but [...]
Two members of the U.S. House of representatives have introduced bills to save the U.S. Department of Agriculture’s Single-Family Housing Guaranteed Loan Program–one of the last ways to get into a house for no money down–which is expected to exhaust its fiscal-year funding in coming weeks. Tweetgovernment,politics news,politics news,politics
The Obama Administration this morning outlined a major overhaul to its housing relief efforts, proposing significant changes to the Home Affordable Modification Program and to FHA programs. Tweetgovernment,politics news,politics news,politics
Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for under served communities. The changes announced today are the latest in a series of changes Stevens has enacted in [...]
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