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Stevens’ Statement on FHA MIP Reduction for Multifamily Mortgages

Stevens’ Statement on FHA MIP Reduction for Multifamily Mortgages

WASHINGTON, D.C. – January 29, 2015 – (RealEstateRama) — Housing and Urban Development (HUD) Secretary Julian Castro today announced that Mortgage Insurance Premiums (MIPs) will be reduced for FHA loans on multifamily affordable and energy efficient properties. David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA) offered the following statement:

“HUD’s decision today is a positive step toward helping support the need for affordable and more cost efficient rental housing. Specifically, the reduction in Mortgage Insurance Premiums for FHA loans on multifamily affordable and energy efficient properties may help build more apartments and allow for more families and individuals to access affordable and energy efficient housing. This is one significant element to expand the availability of affordable and workforce rental housing in America and we will continue to advocate for other measures toward these critically important objectives.”

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