FHA Aims to Lower MIP, Reduce Lender Overlays

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FHA last week launched a two-pronged effort called Blueprint for Access to improve the availability of credit to borrowers seeking the agency’s federally backed loans. The first prong is a pilot program called Homeowners Armed With Credit (HAWK) to reduce the upfront and annual mortgage insurance premiums for borrowers who participate in housing counseling; the second is a simplification of rules to make it less necessary for lenders to impose borrower standards above what FHA requires. For more info contact Sarah Young, 202/383-1233.

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