The health of the FHA and management of its business have been frequent topics of discussion in the media and among our stakeholders in recent months. Certainly, these are important issues – to the ongoing recovery of our economy, to the future of our housing finance system, and to American taxpayers. We welcome a robust [...]
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Today, FHA announced a new premium structure for FHA-insured single family mortgages: as of this spring, the annual mortgage insurance premium (MIP) will increase by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount; and upfront premiums (UFMIP) will increase by 0.75 percent. While the new structure is expected [...]
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Earlier today, we released the Federal Housing Administration’s (FHA) Fiscal Year 2011 Report to Congress. This report gives the financial condition and fiscal outlook of FHA’s Mutual Mortgage Insurance (MMI) Fund. I am happy to say that even though FHA has come through the most severe economic crisis since it was created in 1934, the [...]
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