Mortgage groups urge FHA to ditch ‘life of loan’ premium payments

Having just slashed annual mortgage insurance premiums on new FHA loans by 35 percent in March, and with total insurance in force growing faster than reserves, HUD officials show no signs of giving in to long-standing industry demands. Continue reading

Real estate industry welcomes FHA premium cuts, with caveats

Cuts are expected to save borrowers $678 million a year but don’t apply to existing loans or release homeowners who have built up equity from “life-of-loan” requirements. Continue reading