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HUD Lowers MIPS for 2004

Wednesday, July 2, 2003 - 1:45AM

The U.S. Department of Housing and Urban Development (HUD)yesterday announced the lowering of mortgage insurance premiums (MIPs) in FY 2004 to 50 basis points for multifamily programs authorized under Sections 207, 220 and 221(d)(4) of the National Housing Act (12 U.S.C. 1709(c)(1)) without low-income housing tax credits (LIHTCs). HUD also lowered MIPs for programs under Section 231, and insured programs with HOPE VI with or without LIHTCs. The effective date of these changes is October 1, 2003. Click here for more information.

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