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FHA Will Continue Mortgage Insurance Premiums

Mortgage News > FHA Will Continue Mortgage Insurance Premiums
Date: 11/20/2018    FHA Will Continue Mortgage Insurance Premiums

Even after the release of a report detailing the improved financial health of its Mutual Mortgage Insurance Fund, the Federal Housing Administration will not be reducing its mortgage insurance premiums for borrowers. The MMI fund economic net worth grew to $34.86 billion this year, up $8 billion from 2017. While the increase is encouraging, the FHA cited losses from reverse mortgages and a jump in cash out refinance loans as reasons to continue insurance premiums and continue to build its reserves.

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