When will the streamline endorsement date change for FHA loans? I closed in Oct. of 2010.

Good Morning. Your endorsement date is NOT the same as the date you closed. FHA must receive the original file and then they endorse it. It is highly unlikely that they will role back the special offering for reduced MI to any time other than what is already on the books (prior to May 31, 2009). I hope that answers your question.

Hi! If I'm interpreting your question correctly: Streamline loans are not affected by the April nor June changes that are forthcoming for FHA loans. (Concerning mortgage insurance changes.)

I had forgotten my licensing information that my corporate office requires I include. Sorry for the add'l post. However, I guess while I am at it I would like to add, if you are looking to refinance and need an Ohio Licensed Loan Officer, I'd be happy to help you with that. (:Kimberly A Lawson T: 888-659-3848 kimberly.lawson@fpfmail.com NMLS: 5601 OH.LO.004495.000 First Priority Financial 748 N Court St Ste 201 Medina, Ohio 44256 MBMB.850147.001 NMLS: 3257. Thanks!

That could be possible.. However, if you'd like we can review your entire situation and see if there are alternatives to your situation.. Give me a call real quick or email me so I can ask the kind of questions I'd need to offer you possible options. With this being a public forum I'm not sure you'd like to share all of these details out in the open. kimberly.lawson@fpfmail.com T: 888-659-3848, shouldn't take but 5-10 minutes to figure out if there's a benefit to anything else. Warm Regards, Kim (Licensing information shared & posted on the current thread.)

It is very simple to see if there is a savings or not by supplying your current interest rate as that would be reviewed against today's rates. You can gauge the savings needed from the rate spread, which should be at least 1.5%. So, if your rate is around 5% now and you could get a 3.5% rate, you should have the required 5% savings needed to complete a streamline refinance. I would be happy to work up some more accurate numbers if you wanted to reach out to me directly!

Jenm, I did THUMBS UP your added comment. The fact that your current MIP factor is likely .55% and going to the new 1.25% eats up alot of the benefit of decreasing your rate. I believe it is unfortunate that FHA does not continue the current monthly MIP on streamline refinances instead of using a particular date to determine who get the lower monthly rates. Assuming you have about a 5.25% rate currently with the Monthly MIP it looks like a 5.80% comparison rate. Assuming you could get a 3.50% rate today with the 1.25% monthly MIP, you have a 4.75% comparison rate. Only about a 1% difference and with closing costs likely not worth it unless you have a larger loan amount. Hopefully my estimates are correct.