mippa was enacted in 2008 and is an acronym for
Medicare Improvements for Patients and Providers Act of 2008 The Medicare Improvements for Patients and Providers Act of 2008 ("MIPPA"), is a 2008 statute of United States Federal legislation which amends the Social Security Act.
FHA insured loan An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan which is provided by an FHA-approved lender. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, an upfront mortgage insurance premium (UFMIP) equal to 1.75 percent of the base loan amount at closing is required, and is normally financed into the total loan amount by the lender and paid to FHA on the borrower's behalf. There is also a monthly mortgage insurance premium (MIP) which varies based on the amortization term and loan-to-value ratio.