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HUD to Reduce 221(d)(4) Insurance Premium In Fiscal Year 2003

Wednesday, February 6, 2002 - 8:00AM

The U.S. Department of Housing and Urban Development (HUD) will reduce the section 221(d)(4) mortgage insurance premium from 80 to 57 basis points in fiscal year 2003. The reduction, effective October 1, 2002, is included in President Bush’s proposed budget for 2003, which was released February 4. For more information, visit www.whitehouse.gov/omb.

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