Announced FHA Policy Changes
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Posted by mortgagelending101.com on January 20th, 2010
FHA Increases Upfront MIP Fee: Raises Credit Score Requirement; Reduces Seller Concessions Mortgage insurance premium (MIP) will be increased to build up capital reserves and bring back private lending The first step will be to raise the up-front MIP by 50 bps to 2.25% and request legislative authority to increase the maximum annual MIP that [...]