• Enter your email address to receive notifications of new posts by email.

  • Connect with me

Changes come to FHA mortgage programs!

HUD announces big changes to its FHA lending program.  Cost to consumers to increase after April 5, 2010 

  1. Increased MIP Premiums for all purchase and refinance transactions [case numbers assigned on or after April 5, 2010]
  2. New FICO score policy addressing borrowers with scores under 580
  3. Reduced seller concessions from 6% to 3%
  4. Increased lender enforcement

The announcement is available HERE
Mortgagee letter 2010-2: Increase in Upfront Mortgage Insurance Premiums

This page will be updated as information becomes available.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: