IRVING, TEXAS (PRWEB) January 22, 2015
President Obama formally announced the reduction of FHA annual mortgage insurance premiums by 50 basis points from 1.35% to 0.85%. The reduction takes effect January 26, 2015.
“As the #4 FHA sponsored lender in the country*, we are in a great position to create additional opportunities for our Wholesale and Correspondent clients and their customers,” commented Rick Skogg, President and CEO of Pacific Union. “The FHA insurance premium reduction will not only boost refinances, but will also enable first-time home buyers to move forward with purchasing a home. We have proven to be extremely capable in this very important segment of the market and are ready and able to help our clients grow their market share in 2015.”
The premium reduction will help stimulate the housing market and allow borrowers to enjoy the benefits of a more affordable FHA loan.
Pacific Union Financial, LLC is a full service mortgage company, located in Irving, Texas with operations and sales centers across the county. Pacific Union Financial originates residential mortgage loans through Wholesale, Retail and Correspondent channels and also services a portfolio of over $16 billion.
*Source: #4 FHA Sponsored Lender, excluding streamlines, per U.S. Department of Housing and Urban Development’s Neighborhood Watch reporting for the time period January 1, 2014 – December 31, 2014.