HUD has published the Notice “Changes in Certain Multifamily Housing and Health Care Facility Mortgage Insurance Premiums for Fiscal Year (FY) 2013” in the Federal Register.
The Notice announces changes of the mortgage insurance premiums (MIPs) for certain Federal Housing Administration (FHA) Multifamily Housing, Health Care Facilities, and Hospital Mortgage Insurance programs for commitments to be issued or reissued in FY 2013.
The MIP for market-rate New Construction/ Substantial Rehabilitation loans under Sections 207, 213, 220, 221(d)(4), 231, 232, and 242 is proposed to increase by 20 basis points and 223(a)(7) loans by 5 basis points; with a 15 basis point increase for all other market-rate multifamily housing, health care facility, and hospital loans. The increases will not apply to Low Income Housing Tax Credit Loans, other affordable housing loans for HUD-assisted properties, or loans insured under FHA’s Risk Sharing programs.
In addition to announcing MIPs for FY 2013, this notice also announces that a positive credit subsidy obligation will not be required in FY 2013 for loans under any of the active mortgage insurance programs for multifamily housing or health care facilities.
HUD is accepting public comments on the changes to MIPs and other aspects of the Notice. A copy of the Notice may be found here: http://www.gpo.gov/fdsys/pkg/FR-2012-04-10/pdf/2012-8570.pdf