FHA and Higher Priced Mortgage Loans With the implementation of - TopicsExpress



          

FHA and Higher Priced Mortgage Loans With the implementation of Mortgagee Letter 2013-04 on June 3, 2013, the monthly mortgage insurance premium on FHA loans with loan-to-value ratios exceeding 90% will apply for the life of the loan, rather than terminating when the loan amortizes to a 78% LTV. FHA recognizes that this change in policy will increase the annual percentage rate (APR) on FHA mortgages and may result in mortgages that exceed the higher priced mortgage loan standard outlined in Regulation Z. June 3, 2013 FROM THE DESK OF CAROL GALANTE
Posted on: Thu, 06 Jun 2013 17:04:58 +0000

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