marietta georgia lender: Changes to FHA Mortgage Insurance Premiums
- 09/04/10 02:41 AM
By now most have heard the news about the U.S. Department of Housing and Urban Development (HUD) making some significant changes this week that affect FHA loans. HUD released a Mortgagee Letter earlier this month detailing changes to FHA's Mortgage Insurance Premiums. According to the letter, these changes will apply to all FHA loans with case numbers assigned on or after October 4, 2010. HUD has decided to raise FHA's annual mortgage insurance premium (collected on a monthly basis) and correspondingly lower FHA's upfront mortgage insurance premium (collected on the "front" end of the loan), except for Home Equity Conversion Mortgages (HECM). The annual insurance premium, … (1 comments)
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