FHA just announced an increase in its annual MIP from a current factor of .90 to 1.15 effective for case numbers assigned after April 18, 2011 (see link below).  This change is essentially the same as an .250% increase in rate and will impact the purchasing power of your buyers.  This news provides a perfect opportunity to get many of your buyers off the fence and in the case of buyers who are waiting to hear back from the bank on REO/short sale transactions, case numbers can be ordered before the change deadline locking them into the current MI structure.  Please call if you should have any questions.


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