FHA Announces Reduction in Mortgage Insurance Premiums

In January President Obama announced that the Federal Housing Administration (FHA) would reduce FHA annual mortgage insurance premiums (MIP) by 50 basis points.  This reduction is a victory for the National Association of REALTORS whose members have called for lower fees on FHA loans since early 2014. NAR raised concerns about the costly premiums toContinue reading “FHA Announces Reduction in Mortgage Insurance Premiums”

HUD Announces Changes to FHA

On January 30, 2013, the Federal Housing Administration (FHA) announced a series of changes that manage risk and further strengthen the heath of FHA’s Mutual Mortgage Insurance Fund (MMI Fund): ~ The Standard Fixed-Rate Home Equity Conversion Mortgage (HECM) and Saver Fixed Rate HECM pricing options will be consolidated.  This change will be effective for FHAContinue reading “HUD Announces Changes to FHA”