FHA and housing Insurance

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isjrb029's picture
isjrb029
Status: Bronze Member (Offline)
Joined: Jan 16 2009
Posts: 51
FHA and housing Insurance

I have a question and hope some here can help me understand. I read today the the FHA is increasing their front end fees from 1.75 to 2.25 percent I think on new loans. My question is where did all the money that was charged along with the PMI insurance that most people pay on loans without 20% down go. Not just FHA front up insurance but all of it. My understanding is that insurace is paid through PMI to insure a lone if it goes into default. I have wondered all along where the money went that has been paid by so many for so long. Why is this not discussed?

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