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FHA Mortgage Insurance Premiums Are Increasing… Again!

Published on February 16, 2011 By Michael

HUD is at it again. The need to get their reserves up is being passed onto the consumer. On February 14, 2011 FHA announced changes to the annual Mortgage Insurance Premiums on all FHA transactions (Mortgagee Letter 2011-10) This is a preview of the changes. Effective with FHA case numbers assigned on or after April [...]

FHA Mortgage Insurance Nearly Doubling Monday, October 4th!

Published on October 2, 2010 By Michael

Don’t forget! FHA mortgage insurance premiums will change for all case numbers ordered after October 4th, 2010. The original date was September 7th but Hud has delayed the changes after the industry expressed concerns about being ready for the upcoming changes in time. FHA received congressional approval on August 5th to raise borrowers’ annual premiums for single-family [...]

Spring 2010 FHA Guidelines Make Borrowing Tougher And More Expensive

Published on January 21, 2010 By Michael

In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce the government group’s portfolio risk while strengthening its overall financials. For consumers, the changes mean higher costs.