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Rate Changes for All Programs - Effective 12/15/2008
Effective December 15, 2008, CMG Mortgage Insurance Company (CMG MI) will be introducing a revised pricing structure for all LTV categories in response to developments in the overall mortgage market.
- New Credit Score Categories for EZ Monthly, Single Premium, Standard Monthly & Level Annual Payment Plans
Credit scores will now be expanded into six categories:
740 and above | 700-739 | 660-699 | 620-659 | 600-619 | 580-599
- New Pricing for HLPR Loans
- Simplified Loan Type Category
The following will be priced under the category called "Non-Fixed":
- Temporary buydowns
- ARMs with annual caps of 1% or less
- ARMs with annual caps greater than 1%
- New Rate Adjustments
Rate adjustments provide pricing for the following loan features:
| Second Home |
Investor Loan |
| Cash-Out Refinance |
Rate/Term Refinance |
| Manufactured Housing |
Loan Amounts >$417,000 |
| Level Annual (Refundable) |
Relocation |
| Premium Refundability |
Amortization Term ≤ 25 Years |
The rate sheets are available below. These rate sheets will be effect December 15, 2008, pending state approvals. Our Frequently Asked Questions are available here.
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