In previous posts I have posited that this action was necessary to stimulate FHA loan volume and fill the coffers of the floundering MMI (mutual mortgage insurance) Fund. A CNBC report from last week.
1/8/2015: President Obama announces reduction in FHA mortgage insurance premiums.
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How to refinance out of any home loan with mortgage insurance. This is because FHA dropped premiums by 35% in 2015, but only for new FHA applicants. Pre-2015 FHA home buyers can get a double savings effect: they are tapping into today’s low rates and canceling high FHA mortgage insurance, with one refinance.
The new mortgage insurance premiums are effective for loans with FHA case numbers on or after January 26, 2015. The lender pulls an FHA case number, usually as the first step in the FHA loan application.
What Does No Fha Mean Differences Between an FHA & a Non-FHA Home Loan | Finance. – If you're thinking about buying a home and need to borrow money to do it, you'll.. A conventional loan is any non-FHA loan and non-VA loan, which means that .
FHA Mortgage Insurance Premium being lowered on all new FHA Case Numbers assigned on or after January 26, 2015, as announced by HUD Secretary.
HUD suspends fha mortgage insurance rate cut an hour after Trump takes office. 27, and thus no one received a loan with the new, lower insurance rates.. mortgage insurance that you would have since January 2015.
The Federal Housing Administration said it is not considering any changes to the mortgage insurance life-of-the-loan. of the insured new home purchase mortgage market to the FHA following the 50bp.
Upfront Premium Payments and Refunds Upfront mortgage insurance premium (MIP or UFMIP) is required for most of the FHA’s Single Family mortgage insurance programs. On the FHA Connection, upfront MIP payments can be made for all Title II forward mortgages requiring upfront MIP.
George Lopez | January 14th, 2015 FHA Streamline Refinances Become Particularly Appealing. Seeking to build momentum heading into his State of the Union address, President Obama announced yesterday that FHA will reduce the annual mortgage insurance premiums (MIP) that new borrowers pay on FHA loans by half a percent.
The FHA MIP rates for annual mortgage insurance dropped for the first time in many years at the start of 2015. The new rate is 0.85%, dropping 50 basis points from its previous 1.35%. This served as a significant savings for homebuyers as the difference in that monthly payment made it more affordable for more people to use FHA financing.