FHA Decreases Annual MIP Effective January 26, 2015

FHA has issued Mortgagee Letter 2015-01 which announces revised annual MIP rates for certain FHA Title II forward mortgages, and provides for a limited opportunity for cancellation of existing case numbers in order to take advantage of the lower annual MIP rates contained in the Mortgagee Letter. The reduced rates are applicable for case numbers assigned on or after January 26, 2015.

Please refer to Mortgagee Letter 2015-01 dated January 9, 2015 and the related attachment for details.