Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are loans originated prior to July 14, 2008 and closed after July, 14 2008 subject to the old MIP?

April 26, 2017closed July Loans originated prior Subject

0

Posted

Are loans originated prior to July 14, 2008 and closed after July, 14 2008 subject to the old MIP?

1 Answer

0

Posted

A. If the case number was assigned before July 14, 2008, the old MIP is applicable. Q. In the Notice on risk-based premiums (as posted in the Federal Register on page 27705), it says that HUD has the authority to make changes to the RBPs but they cannot exceed the respective statutory limits. Does HUD intend to make changes to the RBP to meet the statutory maximum? A. FHA will implement risk-based premiums for loans with case numbers assigned on or after July 14, 2008. However, if directed by Congress, FHA will implement changes as directed.