Reduction of FHA MIP Rates has been suspended

Julie C. Nichols General

U.S. Department of Housing and Urban Development released Mortgage Letter 2017-07 on January 20, 2017 announcing the following:

The Mortgage Letter 21017-01, reducing Mortgage Insurance Premiums (MIP) for loans with closing/disbursement date on or after January 27, 2017, has been suspended indefinitely.

This change is effective immediately.

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