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To be crystal clear. The proposal has no stated intention to use the full 1.55% maximum monthly MI - but it does include the "authority" to do so. If the intention is to restore the insurance reserves and those are decreased by dropping the upfront MIP, one could see that intention changing pretty quickly. However, for now, per David Steven's letter - monthly will go to .85% </= 95% LTV and .90% over 95% LTV. Thanks, blarrabee
blarrabee 1 year ago