Effective November 15, 2014, HUD will implement an annual premium to the borrower in the amount of 0.15 percent of the remaining loan balance until the unpaid principal balance, excluding the upfront loan guarantee fee, reaches 78 percent of the lower of the initial sales price or appraised value based on the initial amortization schedule. The new annual premium of 0.15 percent of the remaining loan balance will apply to all new loan guarantees, including refinances. Please refer to 79 FR 60492 for more information.
