Per Mortgagee Letter 2011-10, the FHA Annual Mortgage Insurance Premium will be increased by 0.25% for case numbers assigned on and after April 18, 2011.
The one-time Upfront Mortgage Insurance Premium will stay at 1.00%, while the Annual Mortgage Insurance Premium will increase as follows:
- Loan terms over 15 years with an LTV over 95% will move from 0.90% to 1.15%.
- Loan terms over 15 years with an LTV of 95% or less will move from 0.85% to 1.10%.
- Loan terms 15 years or less with an LTV over 90% will move from 0.25% to 0.50%.
- Loan terms 15 years or less with an LTV of 90% or less will move from 0.00% to 0.25%.
New policies concerning requesting case numbers and automatic case number cancellation are also contained in ML 2011-10.