Senator unveils plan to refi 8 million underwater borrowers Obama Unveils b mortgage relief Plan. Headlining Mr. Obama’s plan is a $75 billion homeowner stability initiative , which would provide a set of incentives to mortgage lenders in an effort to convince them to help up to 4 million borrowers on the verge of foreclosure.

FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount. upfront premiums (ufmip) will also increase.

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The Federal Housing Administration is increasing its annual mortgage insurance premium one quarter of one point on all 15-year and 30-year mortgages backed by the agency. The hike is in response to a congressional mandate that gave the FHA permission to increase premiums and keep its insurance fund liquid.

Some important changes to the FHA loan program were announced last week. According to the Department of Housing and Urban Development (HUD), fha loan limits for most U.S. counties will go up in 2019 in response to rising home values. But program officials say there won’t be any reduction in FHA mortgage insurance premiums anytime soon.

Starting April 1, the FHA’s annual mortgage insurance premiums for most new loans will jump one-tenth of a percentage point (10 basis points in lending parlance). This is on top of two previous.

Increase to Annual Mortgage Insurance Premium Under Public Law 111-229(1)(b), FHA may adjust its mortgage insurance premium rates, as measured in basis points (bps), by Mortgagee Letter. The first table shows the previous and the new annual MIP rates by amortization term, base loan amount and LTV ratio. All MIPs in this table

Note: Most borrowers who use the FHA loan program choose the 30-year repayment term and put down 3.5%. That means most borrowers end up paying the 0.85% annual premium. (See the second line of the first table above.) Our FHA MIP charts for 2019 were adapted from HUD Mortgage Letters and other official documents.

Streamlining Inspection and Warranty Requirements for Federal Housing Administration Single-Family Mortgage Insurance: Removal of the FHA Inspector Roster and of the Ten-Year Protection Plan.

Mortgage industry raises concerns about new HMDA rules NAFCU raises concerns about CFPB’s HMDA amendments. NAFCU Regulatory Affairs Counsel Andrew Morris on Thursday raised the association’s concerns about the CFPB’s proposed amendments to its home mortgage disclosure act rule, Most of the new HMDA requirements become effective Jan. 1, 2018..

How to Get Rid of Private Mortgage Insurance  The increased mortgage insurance costs are part of the Temporary Payroll Tax Cut Continuation Act of 2011, which requires FHA to increase the annual MIP. As stated previously, the FHA Up front mortgage insurance premium is also affected; the current rate of one percent will increase to 1.75 percent of the base loan amount.

Additionally, the FHA will no longer cancel mortgage insurance premiums on 30-year loans with loan-to-value ratios above 90%.