Login to Your Account

Breaking from MBA: MIP Reduction Suspended Indefinitely

Published: January 20, 2017

Below is a message from Pete Mills with the Mortgage Bankers Association

Dear MBA Member:

Today, HUD announced it is suspending indefinitely the FHA MIP reduction through a Mortgagee Letter. The Mortgagee Letter is effective immediately. Additionally, here is the bulletin that we provided yesterday, highlighting the most common operational and compliance challenges that will arise as a result of this action. MBA now looks forward to working with the new Administration in the course of its review of the FHA’s premium level and structure to ensure that FHA continues to address the needs of first-time home buyers and working families, while protecting the long-term solvency of the insurance fund.

As always, please let us know if you have any questions.

Best regards,

Pete Mills
Pete Mills
Senior Vice President, Residential Policy & Member Engagement
Mortgage Bankers Association