Mutual Mortgage Insurance Fund


Also found in: Acronyms.

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.
References in periodicals archive ?
Actuarial Review of the Federal Housing Administration Mutual Mortgage Insurance Fund Forward Loans for Fiscal Year 2012 (November 5, 2012).
Review of the Federal Housing Administration Mutual Mortgage Insurance Fund Forward Loans for Fiscal Year 2011 (October 12, 2011), exhibit III-2: 27; and Integrated Financial Engineering Inc.
The Mutual Mortgage Insurance Fund is part of the FHA single family program, which provides FHA-insured loans to low-income, minority, and first-time homebuyers.
30, Federal Housing Administration (FHA) Commissioner Carol Galante announced steps to shore up the financial footing of the FHA's Mutual Mortgage Insurance Fund (MMI Fund).
The acting FHA commissioner also addressed recent news reports that have raised questions about the financial health of the FHA's Mutual Mortgage Insurance Fund (MMI Fund) and whether the fund might require an infusion from the U.
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