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Customer Service > Questions & Answers > Frequently Asked Questions > Personal Banking >

Home Loans (Taxes and Insurance)

What is FHA Insurance on my loan and can I cancel the premium?

Washington Mutual services loans on behalf of investors who actually own these loans. These investors set forth requirements we must follow in servicing the loan. Based on these guidelines, Washington Mutual is unable to delete the mortgage insurance requirement for FHA loans. There are advantages to having an FHA insured loan. With FHA loans, customers are eligible for the temporary mortgage assistance payment plan and other programs. If you have a FHA loan and would like more information on the FHA insurance, please review your closing paperwork.