FHA MIP Reduction May Be Taken Away By Trump Administration

By
Mortgage and Lending with HomeBridge Financial Services (NJ) NMLS 248937
http://activerain.com/droplet/4YV5

 

In my Blog  posted last week I provided details for the change in the FHA Mortgage insurance, their is a strong possibility that will NOT happen

 

The MBA of America just sent out a notice that:

THERE IS A STRONG CHANCE THAT WHEN DONALD TRUMP TAKES OFFICE HE MAY "ROLL BACK" THE NEWLY ANNOUNCED FHA MIP REDUCTIONS

 Yes you read that correctly. 

  • We don’t know if it will definitely happen – although for MBA to send out this notice it has a strong probability.
  •  We don’t know when it will happen.
  • We don’t know how it would impact pipeline loans if it did happen.  MBA feels it could be effective “immediately” – but not sure what “immediately means”.

Here is the excerpt from our consultants:

"It now appears likely that HUD will rescind the FHA premium reduction on Friday as part of the Trump Administration's plans to overturn a host of regulations/policies implemented by the Obama Administration. Referred to as the "12:01 changes" (i.e. immediately after the Inauguration), we understand each Department/Agency was asked to identify specific issues. Barring a last minute change, we have heard that the premium reduction will be included on the list.

The industry is making an "all court press" to stop this rollback of the premium reduction

We should know one way or the other on Friday Afternoon

You now all know what we know.   Obviously we will  monitor very closely and keep you advised.       

 

Rob


Robert Rauf 
Mortgage Loan Originator NMLS# 248937
 
http://www.homebridge.com/RobertRauf 

or my blog: http://activerain.com/blogs/rrauf 
Office: 
 
RRauf@HomeBridge.com
 
www.RobertRauf.com
Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 16 Madison Avenue, Building 2 Suite 2D Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood Bayville , Manchester 08757 08733, Manahawkin 08050, Robert Rauf is a Licensed Mortgage Loan Originator in New Jersey.

 

 

Rob


Robert Rauf 
Mortgage Loan Originator NMLS# 248937
 
http://www.homebridge.com/RobertRauf 

or my blog: http://activerain.com/blogs/rrauf 
Office: 
 
RRauf@HomeBridge.com
 
www.RobertRauf.com
 
 

Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 16 Madison Avenue, Building 2 Suite 2D Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood Bayville , Manchester 08757 08733, Manahawkin 08050, Robert Rauf is a Licensed Mortgage Loan Originator in New Jersey.

Robert Rauf 
Mortgage Loan Originator NMLS# 248937

Rob


Robert Rauf 
Mortgage Loan Originator NMLS# 248937
 
http://www.homebridge.com/RobertRauf 

or my blog: http://activerain.com/blogs/rrauf 
Office: 
 
RRauf@HomeBridge.com
 
www.RobertRauf.com
 
 

Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 16 Madison Avenue, Building 2 Suite 2D Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood Bayville , Manchester 08757 08733, Manahawkin 08050, Robert Rauf is a Licensed Mortgage Loan Originator in New Jersey.

Robert Rauf 
Mortgage Loan Originator NMLS# 248937

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Topic:
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Groups:
All About Mortgages/Mortgage Networking
Real Estate Rookie
The FHA Mortgage Group
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Tags:
fha
fha mip

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Rainmaker
1,313,730
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for sharing this great information. May 2017 be a fantastic year for you!

Jan 18, 2017 10:19 AM #1
Rainer
113,451
John Bear
RE/MAX - Lake Bluff, IL
I'm Too Busy For Your Referrals!

 Trump may take away something else as we'll!  

Jan 19, 2017 09:18 PM #2
Rainer
113,451
John Bear
RE/MAX - Lake Bluff, IL
I'm Too Busy For Your Referrals!

As well!

Jan 19, 2017 09:20 PM #3
Rainmaker
681,290
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

John Bear This was not intended to be a political post, it is just an up to the moment issue that will affect the mortgage industry.

Jan 20, 2017 06:06 AM #4
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Rainmaker
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Robert Rauf

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