FHA plan to grab biz from Fannie and Freddie
The Federal Housing Administration’s plan to lower annual mortgage insurance premiums is expected to steer business to Ginnie Mae and away from Fannie Mae and Freddie Mac, but performance should be stronger for notes backed by conventional mortgages.
The plan announced by the White House on Wednesday and confirmed in an FHA release on Thursday will reduce the FHA’s annual mortgage insurance premiums (MIPs) by 50bp, from 135bp to 85bp, reducing payments on mortgages guaranteed and securitized by Ginnie Mae.The FHA’s policy change followed a ...
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