FHA is reducing their annual premium by 25 basis points for mortgages closed/disbursed on or after January 27, 2017. This applies to all title II forward mortgages, excluding section 247 (Hawaiian Homelands).
Please note, FHA is also eliminating the distinction in rates based upon base loan amount.
Mortgagee Letter 2017-01 is located at https://portal.hud.gov/hudportal/documents/huddoc?id=17-01ml.pdf which details out the changes. The MIP Chart located in Appendix 1.0 has the updated values and will be added to the HUD Handbook at a later date.
The FHA premium decrease has been suspended per Mortgagee Letter 2017-01.
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