HUD Cuts FHA Mortgage Insurance Premium by 25 bps, Hensarling Slams ‘Parting Gift,’ but Reversal Is Uncertain
January 12, 2017
Any pushback against the FHA’s 25 basis-point cut in the annual mortgage insurance premium remains to be seen despite grumblings from Capitol Hill, said stakeholders and industry analysts. Earlier this week, the outgoing leadership of the Department of Housing and Urban Development surprised the industry by reducing the annual MIP for 30-year FHA mortgages by 25 bps, and eliminated the higher MIP for loans exceeding $625,500. There are...[Includes one data table]