The Department of Housing and Urban Development continues to tweak the FHA mortgage insurance program to make it more efficient for lenders to use and more relevant in a constantly changing mortgage market. In an announcement this week, HUD said it will insure cash-out refinances up to 95 percent of the appraised value of the property, up from an 85 percent limit. Cash-out transactions have become the dominant version of refinance mortgages over the last…