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One of the first actions taken by the new Donald Trump administration on 20 January 2017 was to suspend a pending rate cut initiated by the Obama administration that would have effectively lowered.
The Federal Housing Administration will cut the fees it charges to borrowers to guard against defaults in order to make mortgage credit more available.. After mortgage-rate spike, FHA to cut.
An hour after Donald Trump assumed the presidency Friday, his administration indefinitely suspended a pending rate cut for mortgage insurance required for FHA-backed loans, which are popular with.
In early January 2017 it was announced that the government would be implementing a rate cut to the FHA mortgage insurance premiums. However, as of January 21, 2017 this has been put on hold. Now, before any panic sets in, it’s important to fully understand what this means, who is most affected by it and what your options are.
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When Donald Trump, on his first day as president, halted a planned rate cut for government-backed mortgage insurance, Carlos Fernandez was worried about what it meant for his plans to finally buy.
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The rate cut. When the Federal Housing Administration announced late last year that its flagship fund, the mutual mortgage insurance fund, grew for the fourth straight year, it led to many questions about whether. On January 28th, 2016, the FHA declared that it would reduce insurance rates on multifamily mortgages.
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The cut, at a quarter of a percentage point, would have saved homeowners an average of $500 this year, according to the Federal Housing Administration. FHA Mortgage Insurance Fees Cut. But Will FHA Costs Fall Even. – FHA annual mortgage insurance premiums are being cut by .25 percent for most borrowers.
WASHINGTON, D.C. – Statement from the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) released in response to the Federal Housing Administration’s decision to cut multifamily mortgage insurance rates and increase affordable housing: “We applaud U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro for his
· FHA is reducing its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after January 27, 2017.For a full schedule of the new premium rates announced today, read FHA’s mortgagee letter.