FHA Monthly MI goes up by .25% Apri 18th

> MIP (monthly) will be increasing April 18th another 25bps- THIS
> EFFECTS 15 YR NOTES AS WELL!

EXCEPT FROM FHA HUD
>
>
> ML 2011-10: Annual Mortgage Insurance Premium Changes and Guidance on
> Case Numbers (02/14/11)
>
> TO:  ALL APPROVED MORTGAGEES
>
>
> Purpose
>
> This Mortgagee Letter introduces a 25 basis point increase to the
> Annual Mortgage Insurance Premiums for forward mortgage amortization
> terms. It also provides guidance on the validity period of case
> numbers and new requirements for requesting them.
>
> Effective Date
>
> The increase in Annual Mortgage Insurance Premiums for forward
> mortgage amortization terms is effective for case numbers assigned on
> or after April 18, 2011.
>
>
>
>
> Summary  Increase in the Annual Mortgage Insurance Premium
>
> Given the legislative mandate in section 202 of the National Housing
> Act for ensuring that FHA?s Mutual Mortgage Insurance Fund (MMIF)
> remains financially sound, it is imperative that the MMIF is further
> strengthened to ensure that FHA will continue its historic role of
> providing a home financing vehicle during periods of economic
> volatility and its mission of helping under served borrowers.
>
> The 25 basis points (bps) increase in the
> Annual Mortgage Insurance Premiums. There are no changes to the
> Upfront Mortgage Insurance Premium (UFMIP). It is anticipated that
> this increase will have minimal impact on borrowers but will
> significantly strengthen the capital position of the MMIF.
>
> The increase in the Annual Mortgage Insurance Premiums for forward
> mortgage amortization terms is effective for case numbers assigned on
> or after April 18, 2011.
>
> Mortgage Insurance Premiums
> Loans > 15 years
> UFMIP = 100 bps  Annual Premium
> LTV  Through 4/03/2011*  On/After 4/04/2011**
>  95.00 percent  85 bps  110 bps
>> 95.00 percent  90 bps  115 bps

> Loans  15 years
> UFMIP = 100 bps  Annual Premium
> LTV  Through 4/03/2011*  On/After 4/04/2011**
>   90.00 percent  None  25 bps
>> 90.00 percent  25 bps  50 bps
> *For case numbers assigned on/before April 17, 2011
> **For case numbers assigned on/after April 18, 2011
>