FHA just issued Mortgagee Letter 08-15. This mortgagee letter announces that the MCAW is being replaced with form HUD92900-LT. You may begin using this from June 9th and must use it by October 1, 2008.
FHA Single Family Implements Risk-Based Mortgage Insurance Premiums
Implements risk-based premiums for most Title II single family mortgage insurance programs, enabling mortgage lenders to offer borrowers FHA-insured financing with a range of mortgage insurance premiums based on the risk the insurance contract represents. Effective July 14, 2008.
Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to www.mtgview.blogspot.com or www.dutips.blogspot.com
The information in this blog is FHA guidelines check with your lender for their FHA guidelines
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