FHA has increased Annual MI premiums across the board by .25% effective with case numbers issued on or after 4/18/2011.

The FHA is boosting the annual mortgage insurance premium charged on its home loans, a move that will increase the cost of an average FHA mortgage by about $30 a month.

Effective April 18, the FHA is increasing the annual mortgage insurance premium (MIP) on 30- and 15-year fixed-rate mortgages by 25 basis points, or one-quarter of one percent of the total loan value. The action is intended to help replenish the agency's capital reserves, which have been depleted due to losses on bad loans in recent years.

They are also creating new case number ordering procedures and an automatic cancellation policy that is designed to stop case number hoarding. Credit Policy will be releasing Bulletin shortly.

Effective April 18, 2011, FHA Systems will require mortgagees to:

certify at the time of requesting a case number that they have an active loan application for the subject borrower and property.

provide the subject borrower's name and social security number for all new construction (i.e. proposed construction and existing construction less than one year old)