FHA Suspends Reduction in Annual MIP

The Federal Housing Administration (FHA) has announced that it is suspending its previously announced reduction in its annual Mortgage Insurance Premium (annual MIP) rates for most Title II forward mortgages with Closing/Disbursement dates on or after January 27, 2017.

Details are available in Mortgagee Letter 2017-07, published January 20, 2017. MIP rates will remain unchanged until further notice from FHA.

Reference:
Mortgagee Letter 2017-07 on the HUD website: https://portal.hud.gov/hudportal/documents/huddoc?id=17-07ml.pdf