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MI Tax Deductibility Law Extended Through 2011

Published on July 1, 2011 By Michael

MI tax deductibility law extended through 2011! Borrower-paid MI premiums are tax-deductible through the year 2011. Below are answers to commonly asked questions regarding the law. Borrowers should consult their tax advisors regarding MI tax deductibility. See disclaimer note below. FAQs Does the bill apply to MGIC mortgage insurance? Yes, borrower-paid MI provided by MGIC [...]

For Immediate Release: Michael J. Eiden has Joined Pacific Residential Mortgage

Published on May 20, 2011 By Michael

NEWS RELEASE  For Press Inquiries: Justine Saudan, Media Relations 4949 Meadows Road Suite 150 Lake Oswego, OR 97035 PACIFIC RESIDENTIAL MORTGAGE FOR IMMEDIATE RELEASE  PACIFIC RESIDENTIAL MORTGAGE, is pleased to announce that Michael Eiden Sr. Mortgage Banker MLO-165229, has joined our Lake Oswego Branch. Michael’s passion lies in serving the needs of others and contributing [...]

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 [...]

Separating FHA Fact From Fiction : Mortgage Insurance Premiums

Published on February 10, 2010 By Michael

Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what’s coming next. Recently, we saw this with respect to FHA home loans.

HUD/FHA Has Just Announced Some Significant Changes

Published on January 20, 2010 By Michael

The Federal Housing Administration (FHA) insures about 30 percent of new loans, and its health is vital for the housing market.  But as foreclosures have risen, the government agency has seen its losses rise and its reserves sink below the minimum level required by Congress. According to the Mortgage Bankers Association (MBA) more than 18 [...]