DYK Recent legislation put in front of
HUD that will bring in sweeping changes to UFMIP being charged to borrower,
although no effective date for this change has been announced yet, it has been
decided and approved by HUD to increase the UFMIP base premium charged from
1.75% to 2.25%, they are also going to do away with 6% seller contributions and
cap it at 3%....
So get those loans in while the premium
is less and the S/C is high!!
Happy Selling!
Justin
Perry
Sr. Underwriter
Gateway Mortgage Group
1255 W. 15th Street| Ste. 540|
972-908-3390 ext. 125| 918-392-8349 eFax
1/20/2009
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