New FHA MIP Fee Changes Take Effect October 4th

* Up Front MIP will decrease from 2.25% to 1%
* Annual MIP will increase from .50/.55 to .85/.90 for terms greater than 15 yrs
* FHA will make the premium fee changes on all new case numbers effective October 4, 2010.

We are waiting to hear about changes to seller contribution limits. We will issue a Bulletin as soon as FHA makes the announcement.

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