The recent letter from the Desk of David Steven’s alerted lenders to the upcoming decrease to the UFMIP and the increase to the monthly MI. Being the inquisitive type and wondering whether this was going to be good, bad or a little of both for borrowers, I did what I usually do when faced with a math challenge – I fired up a new Excel sheet. I’m making the results of that available here and will continue to update and refine it as we go. You can download it here and it’s yours to do with as you please.

While the spreadsheet has already been expanded beyond the making of this video, you can take a look at this too in order to get a very quick run through of how to utilize the spread and what the MI cost differences may be. Note, the proposal has not yet been released (as of this writing) in the form of an official Mortgagee letter and that won’t be available unles or until this is signed into law by the President. Until then, word is that the MI over 95% will be .90 but the letter implies that they’ll have authority to go as high as 1.55%. You’ll see exactly how much of a negative impact that could have if it were to happen. Video available here.

Cheers!