FHA MORE TO PAY – FHA TAKES ADDITIONAL STEPS TO BOLSTER CAPITAL RESERVES

Beginning April 1, the up front mortgage insurance premium (UFMIP) will increase to 1.75% from 1% of the base loan amount.   FHA buyers will pay an additional $750 up front fee for every 100K borrowed.   In addition, the annual mortgage insurance premium (MIP) will increase between .1% and .3%. Now may be a great time for FHA buyers [...]

FHA Extends Waiver of Anti-Flipping Regulations Through 2012:

In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante will extend FHA’s temporary waiver of the anti-flipping regulations.   With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than [...]