fha mortgage insurance annual premium increase: FHA Mortgage Insurance Premium increase
- 03/01/11 07:22 AM
On February 14th 2011, FHA Sent out a Mortgagee Letter # 11-10 regarding the Annual Mortgage Insurance Premium changes and guidance on how to prepare for the upcoming changes. The purpose of the update from FHA was to introduce a ΒΌ% increase in the ANNUAL Mortgage Insurance Premium. (This does not affect Reverse Mortgages) The Effective Date of the increase is for any new Case #'s (new FHA Loans) assigned on or after April 18th, 2011 There are also new procedures for "requesting" case numbers by lenders and brokers such as LoanCentral on that same April 18th date. If there are … (1 comments)
On February 14th 2011, FHA Sent out a Mortgagee Letter # 11-10 regarding the Annual Mortgage Insurance Premium changes and guidance on how to prepare for the upcoming changes.
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