On Friday, the U.S. Department of Housing and Urban Development (HUD) released its annual report to Congress on the financial conditions of the Federal Housing Administration (FHA)Mortgage Mutual Insurance (MMI) fund. 

As part of its announcement, the HUD laid out a series of initiatives to improve the MMI fund's health without limiting access to credit for qualified borrowers. This includes increasing the FHA Mortgage Insurance Premium (MIP) for most homebuyers under the program who qualify for new loans.

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