Washington Report

Advocacy Updates from Washington D.C.

FHA Premium Reduction In Effect

On January 26, 2015, the Federal Housing Administration’s (FHA) 50 basis point mortgage insurance premium (MIP) reduction goes into effect.  FHA expects a high volume of case number assignments beginning on the 26th, so lenders may experience slower than normal processing times.  For additional information, the FHA has posted frequently asked questions about the MIP reduction as well as case number cancellation instructions on its website.

FHA Press Release

Case Number Cancellation Instructions

FAQ about MIP Reduction

FHA resource center (search by ML 15-01)

Mortgagee Letter 2015-01

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