Aundrea Beach-Greco Mortgage Blog FHA News Alert - Annual MIP Increases February 17th, 2011 3:08 PM February 15, 2011 With Mortgagee Letter 11-10, FHA announces an increase to the Annual Mortgage Insurance Premium on standard FHA loan programs and a change that affects case numbers. Here are the 7 things you need to know about these changes: 1. These changes are effective April 18th, 2011. 2. The Annual Insurance Premium will increase .25% for standard forward mortgages. The Upfront Mortgage Insurance remains at 1.00%. 3. The Annual Premium is now 1.15% for LTVs GREATER than 95% on 30 year loans 4. The Annual Premium is now 1.10% for LTVs EQUAL to or LESS than 95% on 30 year loans 5. The Annual Premium is now .50% for LTVs GREATER than 90% on 15 year loans 6. The Annual Premium is now .25% for LTVs EQUAL to or LESS than 90% on 15 year loans 7. Case numbers with no activity for 6 months will automatically be canceled (includes case numbers pulled prior to April 18th, 2011. Go FHA! Aundrea Beach-Greco To read this update in full http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/11-10ml.pdf Posted by Aundrea Beach-Greco on February 17th, 2011 3:08 PMPost a Comment (0) Subscribe to this blog * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

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