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Loan Modification

: The Truth About Mortgage.com

FHA Underwriting Changes Announced

By scot184

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The FHA has taken a number steps to address risk and strengthen its balance sheet, including requiring larger down payments and higher mortgage insurance premiums. The upfront mortgage insurance premium (MIP) will be raised from 1.75 percent to 2.25 percent to ?build up capital reserves and bring back private lending.? The FHA will also request legislative authority [...]

Full post as published by The Truth About Mortgage.com on January 20, 2010 (boomark / email).

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