Up Front Mortgage Insurance Premium (UFMIP) will be increased form 1.75% to 2.25%. The change will occur April 5th, 2010. This applies to purchase money and refinance transactions.
The FHA will also request legislative authority to further increase the maximum annual MIP they can charge. If they are granted the authority, they will shift some of the raise from the up-front MIP to the annual MIP.