FHA Annual Mortgage Insurance Premium Rate Reduction
Newrez LLC "Newrez" Approved Correspondent Clients; Newrez will align with FHA Mortgagee Letter 2023-05, Reduction of Federal Housing Administration (FHA) Annual Mortgage Insurance Premium (MIP) Rates, which announced a 30 bps reduction to the annual MIP rates.
This announcement applies to all FHA transactions except for Streamline and Simple Refinance transactions used to refinance a previous FHA-endorsed Mortgage on or before May 31, 2009 are not impacted.
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