5 18 10 FHA Fees Up MI’s Return 0001
May 19, 2010 - 1:00 pm
At the same time that FHA is tightening its underwriting guidelines and increasing its fees, private mortgage companies are re-entering the market. Without any fanfare, mortgage companies like Genworth and Radian are now willing to insure loans with only 5% down in all markets, including hard hit states like California and Florida. MGIC, the nations largest mortgage insurer has even dropped its credit score requirement to 660 for loans with only 5% down. And mortgage insurer PMI just released its Second Quarter 2010 Risk Index, which according to the report, shows fresh evidence of the nations recovering housing markets
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