Scant reports of FHA lenders reassures us that they may offer streamline refinances in several ways. Some FHA lenders offer "no cost" refinances (actually, no out-of-pocket expenses to the borrower and paid with yield spread premium by FHA broker) by charging a higher rate of interest on the new loan than if the borrower financed or paid the closing costs in cash. From this MIP premium, the direct endorsement lender pays any closing costs that are incurred on the transaction and this is helpful with FHA Streamlined refinances.