HUD has just issued FHA ML 2017-01 (available at: https://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/letters/mortgagee), which announces reductions to annual mortgage insurance premium (MIP) rates, as well as the removal of base loan amounts as a criteria for determining which MIP rates apply. These rates are “effective for endorsement of mortgages” which have a Closing/Disbursement (properly defined) date on or after January 27, 2017.
We are currently evaluating our systems to determine impact and any necessary changes. Any changes made will be announced on our website (http://blog.docutechcorp.com/category/document-updates).