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FHA to increase mortgage insurance premiums one quarter of one point

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The increased mortgage insurance costs are part of the Temporary Payroll Tax cut continuation act of 2011, which requires FHA to increase the annual MIP. As stated previously, the FHA Up Front Mortgage Insurance Premium is also affected; the current rate of one percent will increase to 1.75 percent of the base loan amount.

These monies must be accrued by credit unions for the second quarter. But if an affiliated mortgage company is an FHA-approved mortgagee (like BofA or Chase), this company must increase its net.

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As of April 18, 2011, the Department of Housing and Urban Development (HUD) increased annual mortgage insurance premiums by 25 basis points, or one-quarter of one percent of the loan amount. The amount you pay depends on the length of your loan and the size of your down payment.

FHA Increasing Mortgage Insurance Premiums February 28, 2012 The Federal Housing Administration announced plans to increase the cost of up-front mortgage insurance premiums beginning on April 1, FHA Acting Commissioner Carol Galante said yesterday in a call with news reporters.

"These modest increases are one of several measures we are taking towards meeting the Congressionally mandated two percent reserve threshold, while allowing FHA to remain a valuable option for low- to moderate-income borrowers." Last April, the FHA increased their annual premiums by a quarter of a percentage point for the same reason.

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The increase, one quarter of one point, will be applied to all 15-year and 30-year mortgages backed by the agency. The increase is in response to a. On April 18th, the annual mortgage-insurance premium on new FHA loans is set to rise by a quarter of a percentage point on 15 and 30-year mortgages.

On April 18th, the annual mortgage-insurance premium on new FHA loans is set to rise by a quarter of a percentage point on 15 and 30-year mortgages. The move is aimed at replenishing the FHA’s dwindling reserves and meeting a Congressionally mandated two percent reserve threshold. While a quarter.

FHA reduces Annual Mortgage Insurance Premium | Mortgage Mondays #85 The Federal Housing Administration is increasing its annual mortgage insurance premium one quarter of one point on all 15-year and 30-year mortgages backed by the agency. The hike is in response to a congressional mandate that gave the FHA permission to increase premiums and keep its insurance fund liquid.

Rising delinquencies in single-family mortgages are depleting the reserves for FHA’s Mutual Mortgage Insurance Fund. he Federal Housing Administration, now finds itself on thin ice with excess.

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