The “Informed Consumer Choice Disclosure” is a model form available online at . Regulations for this document require that the loan information table, which appears in the middle of the model form, be updated periodically to “reflect prevailing market conditions” (see 24 CFR § 203.10[d]).
We have updated the date in the first paragraph of our copy of the form (Cx41) to “January 2023” and updated the loan information table to the following to better align with current market conditions:
The numbered list below the table has also been modified to reflect these changes as well:
2. Based on an UFMIP rate of 1.75%, the total mortgage amount has been updated to $294.566.
3. Streamline refinances of FHA loans endorsed/insured by FHA prior to June 1, 2009, are subject to a reduced UFMIP of .01% and a reduced annual MIP of .55% (updated $132.08 monthly for a loan amount of $289,500).
These changes will take effect on January 4, 2023. If you have any questions or concerns about these, please contact Client Support at 1.800.497.3584.