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FHA Updates Initial MIP Formula for Reverse Mortgage Refinances 

Dec 31, 2017By

The Federal Housing Administration has updated and clarified its formula by which the initial mortgage insurance premium is calculated for refinanced Home Equity Conversion Mortgages (HECMs) The agency notified lenders via an info notice dated December 29, which indicated the update for the Initial Mortgage Insurance Premium formula for refinance cases. The calculation applies for […]