There seems to be some confusion about FHA Streamline Refinances, and what they can do. There are 3 different types of FHA Streamline Refinances, and significant differences in each one. Most loan officers know about the "non-credit qualifying" FHA Streamline Refinance, but there may be reasons to use one of the others.
A recent HUD Letter is announcing some major changes (Mortgagee Letter 11-10) to the Annual Mortgage Insurance Premium (MIP). The letter states that the Annual MIP - this is the one the borrower will pay monthly - is … (0 comments)
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