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 ?
(2.) See Integrated Financial Engineering Inc., Actuarial Review of the Federal Housing Administration Mutual Mortgage Insurance Fund Forward Loans for Fiscal Year 2012 (November 5, 2012).
(12.) For some recent data, see US Department of Housing and Urban Development, Annual Report to Congress, Fiscal Year 2011 Financial Status, FHA Mutual Mortgage Insurance Fund (November 15, 2011), table 5.
(23.) Page 1 of the introduction to HUD Secretary Shaun Donovan's statement in his 2009 Annual Report to Congress Regarding the Financial Status of the FHA Mutual Mortgage Insurance Fund is typical in this regard.
"Actuarial Review of the Mutual Mortgage Insurance Fund." Rockville, Md.: IFE Group.
"Actuarial Review of the Mutual Mortgage Insurance Fund" Rockville, Md.: IFE Group.
"Actuarial Review of the Federal Housing Administration Mutual Mortgage Insurance Fund (Excluding HECMs), for Fiscal Year 2010." Rockville, Md.: IFE Group, October 12.
(3.)Establishment of the Mutual Mortgage Insurance Fund was authorized by section 202 of title II of the 1934 National Housing Act.
Administration's Mutual Mortgage Insurance Fund (Washington, DC:
FHA MUTUAL MORTGAGE INSURANCE FUND (SINGLE FAMILY), 2010 FISCAL YEAR
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.
Galante explained, "Using the HECM Fixed Rate Saver for fixed-rate mortgages will significantly lower the borrower's upfront closing costs while permitting a smaller payout than the HECM Fixed Rate Standard product, thereby reducing the risks to the Mutual Mortgage Insurance Fund."
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