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MBA's Quinn announces John Courson to be COO as of January 1st

National Mortgage Professional
Jul 27, 2008

HUD issues Mortgagee Letter on risk-based premiums for FHA mortgage insuranceMortgagePress.comHUD, Mortgagee Letter, FHA, mortgage insurance, ML 08-16 On June 11, the Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2008-16 (ML 08-16), which addresses risk-based premiums for Federal Housing Administration (FHA) mortgage insurance. On July 14, 2008, the FHA will implement risk-based premiums on one- to four-unit single family mortgages. ML 08-16 states that the premium will be based solely on the prospective borrower's credit bureau score and the loan-to-value ratio. The upfront mortgage insurance premium will range, for loan terms greater than 15 years, from 1.25 percent of the loan amount for lower-risk borrowers to 2.25 percent for riskier borrowers. ML 08-16 provides matrices that establish the mortgage insurance premiums for FHA single-family mortgages for borrowers with varying degrees of risk. For borrowers refinancing delinquent non-FHA adjustable rate mortgages, the upfront mortgage insurance premium is set at 2.25 percent of the base loan amount regardless of the loan to value ratio. For a copy of the Mortgagee Letter, click here. For more information, visit
Jul 27, 2008
Rocket Launches Visa Signature Card

Rocket says its first-of-its kind credit card will help clients save on home purchases and homeowners pay off mortgages.

Guild Mortgage Acquires Cherry Creek Mortgage

Terms of purchase not disclosed; reverse mortgage volume added to Guild.

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Vigilance, Dedication, And Commitment Forge Legends

Submit a nomination for Mortgage Banker Magazine’s Legends of Lending.

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FTC Moves To Block Black Knight, ICE Merger

Says it 'would drive up costs, reduce innovation, and reduce lenders’ choices.'

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Rocket Arms Brokers With Bully Shield Vs. UWM

Rocket covers penalties and court fees for brokers who want to get out of United Wholesale Mortgage’s ultimatum contract. 

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Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

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