Competitors shoot holes in FHA coverage

SOURCE: Mortgage News Feed

Federal Housing Administration (FHA) loans have made home ownership possible for tens of thousands across the country, but private market competitors are exploiting one weakness that could benefit clients. “The total cost of MI (mortgage default insurance) over the life of a loan on a $200,000 home with 3% down would be $36,379 with FHA and $18,480 with United Guaranty,” says Bryon Jones, senior vice president in charge of strategic accounts for the latter. “The home buyer would save $17,899 with us.”

To read the entire article, please visit: http://www.mpamag.com/news/competitors-shoot-holes-in-fha-coverage-24246.aspx


About The Author

Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.