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Home » Store » News » Delays in Closing Are Common on Purchase Mortgages With Private MI, FHA Loans

Delays in Closing Are Common on Purchase Mortgages With Private MI, FHA Loans

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The mortgages that most frequently experience delays in closing are those with private mortgage insurance and FHA loans, according to new findings from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. According to responses from real estate agents involved in 1,401 transactions in January, some 45 percent of purchase mortgages with private MI experienced a delayed closing. And 42 percent of FHA purchase mortgages experienced a delay in closing. Tom Popik, research director of Campbell Surveys, said...
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