Home > Bulletin Archive > FHA Changes October 03, 2008 FHA Changes Effective with applications taken on or after 10/01/08 the following changes have taken place: The new FHA Loan Underwriting & Transmittal Summary form is required There is a new 92900a which requires the co-borrowers signature on page 2 For Case numbers ordered on or after 10/01/08 the MIP factors have changed New Factors: Up Front MIP Purchases and full credit qualifying refinances 1.75% Streamline refinances 1.5% Annual MIP factors now: For Purchase money, full qualifying refinances and streamlines If loan term is greater than 15 years LTV Less than 95% 50 LTV Greater than 95% 55 If loan term is less than/equal to 15 years LTV Less than 90% None LTV Greater than 90% 25 Borrowers that have DU/LP approvals with credit scores below 500 AND with LTV ratios at or above 90% are NOT eligible for FHA insured mortgage financing. Please see Mortgagee Letters 2008-15, 2008-22 for more information. www.hud.gov PDF of this Bulletin