Bill to Let FHA Raise Annual Premiums Heads to Obama

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Obama to reduce fha mortgage premium rate to spur buying. By: The Associated Press January 7, 2015 Comments Off on Obama to reduce FHA mortgage premium rate to spur buying

Trump already suspends Obama-era FHA mortgage insurance cut. Castro said FHA’s reserves, which premiums help bolster, were healthy enough to withstand lower revenues.. "the Obama.

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In a move that will help first-time home buyers, President Obama announced today that the Federal Housing Administration (FHA) will reduce its annual mortgage insurance premiums by 0.5 percentage points from 1.35% to 0.85% during an address in Phoenix.

The FHA announced Tuesday it was halting its risk-based pricing structure beginning October 1 in accordance with the new housing bill and raising its upfront mortgage insurance premiums.. beginning October 1, FHA will charge an upfront premium of 1.75 percent for purchase money mortgages and full-credit qualifying refinances, 1.50 percent for streamline refinances, and 3.00 percent for.

The bill, which passed by unanimous consent and is expected to be signed by President Obama as early as next week, would let the mortgage insurance agency raise annual premiums to help cover losses to its trust fund, while reducing up-front assessments that can make it harder for an FHA borrower to sell a home.

The bill, which passed by unanimous consent and is expected to be signed by President Obama as early as next week, would let the mortgage insurance agency raise annual premiums to help cover losses to its trust fund, while reducing up-front assessments that can make it harder for an FHA borrower to sell a home.

"premium support" payments to buy plans; he’d also like to raise the age of eligibility for Medicare. Both those ideas could lead to less coverage or greater out-of-pocket expense. But those proposals.

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The bill, which passed 406 to 4, will allow the FHA to raise annual premiums on borrowers, helping to bolster its mutual mortgage insurance fund. The fund has seen loan losses deplete its capital ratio to 0.53%, well below its statutory minimum of 2%.

Shifting market turns investors shy on housing If anything, the booming housing market contributed to the recent distress among stock market investors, said Daren Blomquist, senior vice president of real-estate analytics firm Attom Data Solutions.

The annual FHA mortgage insurance premium is part of the borrower’s monthly mortgage payment. On a $400,000 loan amount, a borrower currently pays a whopping $450 a month in just mortgage insurance premiums (400,000 x 1.35% = 5,000, divided by 12 months).

When Social Security needs to start cashing in its holdings of Treasury securities to meet its benefit obligations, the federal government will have to increase. President Obama and Congress brace.