Despite substantial comments from apartment, seniors and health care industries opposing rate increases, HUD announced that, as planned, it will increase in mortgage insurance premiums (MIPs) on all conventional loans insured by FHA on apartment, nursing and health care facilities and hospitals beginning Oct. 1. In the final rule published on Aug. 15 (77 CFR 49007), HUD maintained the increases announced on April 10, 2011. The agency argues the increases are necessary to protect against potential credit losses and to make FHA more in-line with market mortgage and construction financing interest rates.
Read more...Multifamily Mortgage Insurance Premiums to Increase via NMHC:
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