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Mutual Mortgage Insurance Fund |
Also found in: Acronyms | 0.01 sec. |
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Mutual Mortgage Insurance Fund A pool of liquidity that provides insurance on FHA mortgages. That is, the mutual mortgage insurance fund compensates the Federal Housing Administration in the event of default on a single family home purchased with an FHA loan. Home buyers must pay the premiums for the mutual mortgage fund, including 1.5% of the value of the loan at closing and 0.5% every year until the buyer has 22% equity in the home. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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