FHA INFO #17-59, Modification of Initial Mortgage Insurance Premium (IMIP) Formula for Home Equity Conversion Mortgage (HECM) Refinance Cases, December 29, 2017
By: Tracey Rumsey – Staff Writer This article contains important changes if you work with HECM loans! Specifically, the formula for the modification of initial mortgage insurance premium is addressed along with examples. Make sure you update your knowledge by reading this important update! Rule Synopsis: The formula was modified on November 14, 2017, and [...]