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mortgage insurance: FHA annual mortgage insurance premium to increase in April. - 02/14/11 04:53 PM
HUD announced today that it will increase the annual mortgage insurance premium by 0.25% on all 30 yr and 15 yr loans. The upfront MIP will remain unchanged at 1.0 percent. The new annual premium will be effective for all loans with case numbers on or after April 18, 2011. Below are examples and the impact of the change. The end result is an increase in overall payment for the borrower.
 

 
The full mortgagee letter pertaining to the increase can be found on HUD's website: FHA Mortgagee Letter 11-10.
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mortgage insurance: New FHA Upfront MIP and Annual Premiums announced - 08/27/08 04:59 PM
FHA has just published new guidelines regarding their upfront MIP (Mortgage Insurance Premium) and annual premiums. The information directly from FHA is as follows;
 
Directions to FHA-Approved Mortgagees on Premium Pricing during Moratorium.
The upfront and annual premiums on mortgages for which new FHA case number assignments are made on or after October 1, 2008 and before October 1, 2009 are as follows:
Upfront Premiums: FHA will charge an upfront premium in an amount equal to the following percentages of the mortgage:
Purchase Money Mortgages and Full-Credit Qualifying Refinances = 1.75% Streamline Refinances (all types) = 1.50% FHASecure (Delinquent Mortgagors) … (0 comments)

 

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