mortgage insurance: Beware of FHA Changes
- 04/17/11 02:46 AM
FHA Announced that they will be changing their Mortgage Insurance Premiums AGAIN, effective April 18, 2011. FHA does not underwrite mortgages - they insure them against default, just like Private Mortgage Insurance Companies. Because of this, they determine their own guidelines for underwriting the file, and they set their own rates. There are currently two types of Mortgage Insurance or PMI associated with every FHA loan we make. Up Front Mortgage Insurance Premium (sometimes referred to as UFMIP): The current rate on this premium is currently 1 percent of the loan amount. At THIS TIME, if you sell the property or … (4 comments)
mortgage insurance: FREE WEBINAR: MARKET FORECAST 2011
- 03/02/11 12:40 AM
FRIDAY MARCH 4, 2011 10AM-10:30AM ESTYou got Questions? We've got Answers! Real Estate Professionals, please join us as we review this years updated forecast for areas that affect your business and your client's decision to buy or sell in 2011. Topics include:The EconomyStock MarketLabor MarketInflation ExpectationsHousing MarketHome Loan Rate OutlookCompelling conversations to have right now!To register for this free web-event, please visit the link below and sign up. NOTE: While this session is geared towards Maryland Realtors, all licensed Realtors & Home Builders are welcome to attend.http://www.freebinar.com/PIID=EE52DF8984 BECOME A FAN ON FACEBOOK AND BE NOTIFIED OF NEW EVENTS LIKE THIS! Once … (1 comments)
“Last week, FHA Commissioner David H. Stevens announced plans for implementing FHA’s new mortgage insurance premium structure. As we work to publish a Mortgagee Letter, it is our intention to announce that based on industry feedback and our desire to have this change implemented successfully in the marketplace, FHA will make the premium fee changes on all new case numbers effective October 4, 2010.
“Over this past week, the industry responded with support of the new fee structure, but voiced strong concern about having … (1 comments)
FHA Announced that they will be changing their Mortgage Insurance Premiums AGAIN, effective April 18, 2011. 
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