With the release of two new HUD mortgagee letters, FHA Commissioner Brian Montgomery says the Administration is working to remove unnecessary barriers for lenders. Read more about the changes here.
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FHA Issues Update on Premium Cuts for In-Process Loans
In a mortgagee letter issued Friday, HUD announced that the reduction in annual premiums—which will bring premiums down to 0.85 percent on most FHA loans—will affect mortgages with case numbers assigned on or after January 26.
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