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 |
|---|---|---|---|
| 07:00 | Leading Indicators | May | |
| 10:00 | Ifo Business Climate Index | Jul | |
| 10:00 | Ifo Current Assessment | Jul | |
| 10:00 | IFO - Expectations | Jul | |
| 10:00 | Private Sector Credit | Jun | |
| 10:00 | M3 Money Supply | Jun | |
| 12:00 | CBI retail sales volume balance | Jul | |
| 14:30 | Durable Goods Orders | Jun | |
| 01:01 | BRC Shop Price Index | Jul |
