[Video] UWM CEO: Will the FHA lower mortgage insurance premiums?

MMI fund continues to come in above 2%

Ever since the Federal Housing Administration reported that its flagship fund reached the Congressionally mandated threshold of 2%, speculation has swirled about finally cutting mortgage insurance premiums.

The most recent report from the FHA fueled the talk even more, with the Mutual Mortgage Insurance Fund growing to 2.32%.

But not everyone is on board with the idea of cutting FHA MI premiums and the FHA hasn’t announced anything yet.

Mat Ishbia, president and CEO of United Wholesale Mortgage, touched on the topic in his latest January 3 Points video, saying that there have been a lot of rumors around the idea.

So much so, Ishbia stated, that some people are thinking there’s a 60% or 70% chance they are going to lower them before Pres. Obama leaves office on Jan. 20. 

Watch the video below to see what Ishbia thinks about the FHA lowering MI premiums. 

Most Popular Articles

Former Fannie Mae employee gets 6 years in prison for making $1 million on shady foreclosure sales

A former Fannie Mae employee will spend more than the next six years in prison after being found guilty of accepting more than a million dollars in bribes and kickbacks in exchange for selling Fannie Mae-owned foreclosures for less than market value.

Jan 15, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please