| Title: | FHA Imposes Moratorium on Risk-Based MIPs (ML 08-22) |
| Source: | HUD |
| Date: | 9/4/2008 |
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Summary:
The Housing and Economic Recovery Act of 2008 provides for a one-year moratorium on the implementation of FHA’s risk-based
premiums beginning October 1, 2008. Consequently, effective with new FHA case number assignments on or after that date, FHA
will no longer base its mortgage insurance premiums on a combination of credit bureau score and loan-to-value ratio. The new
premiums (upfront and annual) to be implemented for all loans for which a case number is assigned on or after October 1, 2008,
are described below. Mortgagee Letter 2008-16 is rescinded in its entirety.
See Related Documents to view Mortgagee Letter 08-22