FHA Addresses Issue Regarding Streamline Refinances

FHA has released a notice regarding Streamline Refinances and previous case numbers.

“Mortgagee Letter 2012-4 announced lower Up-Front and Annual MIP for the streamline refinancing of FHA loans which FHA endorsed on or before May 31, 2009. This policy went into effect on June 11, 2012. FHA recognizes that there is a pipeline of streamline refinance loans that received FHA case numbers before June 11, 2012 that may be eligible for the lower Up-Front and Annual MIP, but have not yet closed. 

On March 30, 2012 FHA announced the process for canceling individual case assignments for loans that meet the requirements for the reduced MIP. On April 10, 2012 FHA announced to the process for bulk cancellation requests. There is no deadline for canceling FHA case numbers on these loans and issuing a new case number on or after June 11, 2012 as long as the loan has not yet closed.

The following is a link to the Mortagee Letter referenced in this notice:

http://portal.hud.gov/hudportal/documents/huddoc?id=12-04ml.pdf

The following is a link to  FHA’s Streamline Refinance Page:

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/buying/streamli

 

 

Advertisements

2 Responses to FHA Addresses Issue Regarding Streamline Refinances

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: