MUTUAL MORTGAGE INSURANCE FUND
A fund that insures mortgages funded by the Federal Housing Administration (FHA) on a single family home. Individuals with this fund pay the one-time fee of 1.5% of the mortgage loan, to be settled at closing, and annual mortgage-insurance premiums of 0.5% of the entire loan amount that should be given until the mortgagor has 22% equity in that home.
It pays the lender in the event the mortgagor defaults. Borrowers with FHA mortgages are regarded higher risk because of the minimal down-payment requirement, slacked income, and credit requirements on these loans.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 06:30 | Tertiary Industry Index | Apr | |
| 08:00 | Wholesale Price Index | May | |
| 08:30 | Producer & Import Prices | May | |
| 09:00 | SECO Consumer Confidence | May | |
| 10:00 | Trade Balance | Apr | |
| 11:00 | Current Account (sa) | Apr | |
| 11:00 | Industrial Production | Apr | |
| 14:15 | Housing Starts | May | |
| 14:30 | NY Fed Empire State manufacturing index | Jun |
