Saturday , 23 January 2021

MBS RECAP: Status of MIP Change as of 1pm; Congrats to HUD on Killing New Originations for the Day

By Matthew Graham

Posted To: MBS Commentary

Dear HUD, First of all, thanks for dropping annual MI. That’s cool and all, but the way you’re rolling this out is causing confusion. The Mortgagee Letter should have been cued up and ready to go as soon as Obama started talking about this yesterday. Reason being: no one wants to pull a new case number until they know what’s going on. So yeah… numbers might be a bit low for most of yesterday and all of today. Sincerely, Common Sense As of 1pm, the status of the MIP changes is that annual MIP (paid monthly) is dropping from 135bps to 85bps. At first, the FHA press release said “for all new FHA-insured mortgages,” but now that phrase has been dropped completely. So we don’t exactly know if there will be some limitation as to who can take advantage of this, or if there…(read more)

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Via:: MBS RECAP: Status of MIP Change as of 1pm; Congrats to HUD on Killing New Originations for the Day

      

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