FHA no more will drop home loan insurance costs Andrew Cuomo, then a U.S. Housing and Urban developing Secretary, said it absolutely was a day that is big the nation’s homebuyers. The Federal Housing Administration’s Mutual Mortgage Insurance Fund (MMIF) had skilled an unprecedented economic turnaround, enabling borrowers that has reached a 22 % equity stake inside their domiciles a chance to drop their home loan insurance “just like the standard areas, ” Cuomo told a team of reporters. That…