#MBAServicing23: FHA Announces 30bp Reduction in Mortgage Insurance Premiums

ORLANDO--The Federal Housing Administration announced here at the MBA Servicing Solutions Conference & Expo that it will reduce the mortgage insurance premiums it charges home buyers for its mortgage insurance.

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Quote: February 22, 2023

"The lower premiums will expand homeownership opportunities by lowering mortgage payments for qualified FHA borrowers, providing critical relief from the steep rise in mortgage rates and home prices just in time for the spring buying season. This will especially help minority homebuyers and low-and moderate-income households who are predominantly served by FHA loans." --MBA President & CEO Robert Broeksmit, CMB.

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