Does the Annual MIP reduction announced in Mortgagee Letter (ML) 2015-01 affect my existing FHA loan?

The Annual Mortgage Insurance Premium (MIP) reduction announced in Mortgagee Letter (ML) 2015-01 applies to FHA loan applications with case numbers assigned on or after January 26, 2015.

The Annual MIP for existing FHA-insured loans is not reduced as a result of ML 15-01.

For additional information see ML 15-01 at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-02465