No Go For MI Under 575

By
Mortgage and Lending with Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

Well, another lender tightens thier grip!

Looks like FHA is going to HAVE to be the way to go for yout sub-575 FICO borrowers...

:-)\

Issued: November 26, 2007
Effective:Effective with new loan applications taken on or after November 27, 2007
Summary
Mortgage Insurance (MI) is no longer available for loans with a FICO® score under 575, regardless of the LTV.

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