Effective for case numbers assigned on or after January 26, 2015, FHA Mortgage Letter 2015-01 (ML 2015-01) reduces annual MIP rates for FHA Title II forward mortgages and provides FHA lenders the opportunity for cancellation of existing case numbers in order to utilize the MIP rates contained in ML 2015-01. See Table below: Term > 15 Years Base Loan Amt. LTV Previous MIP New MIP ≤ $625,500 ≤ 95.00% 130 bps 80 bps ≤ $625,500 > 95.00% 135 bps 85 bps > $625,500 ≤ 95.00% 150 bps 100 bps > $625,500 > 95.00% 155 bps 105 bps Term ≤ 15 Years ≤ $625,500 ≤ 90.00%
