Did the FHA program change on June 11th of this year?

Does this sound right?? Did the FHA program change on June 11th of this year?

I got something in the mail about refinancing my FHA loan with a streamlined refi. So, I called out of curiosity. This is a real place, and it happens to be located down the street from my job, so I asked if I could come see them in person, and they welcomed it.

He said all FHA loans are doing the same thing right now, and that it has changed for everyone who does FHA loans as of June 11th of this year... so I wanted to check with someone else. Here is what he said:

- I can get a streamlined FHA loan, and not pay any closing costs or appraisals. He said:

1) that the old Upfront Mortgage Insurance Premium (which was a fee to FHA) used to be 1.75% and now it is 0.1%. So, there is a refund from the Original loan.

2) usually there is a monthly fee of 1.25%, but in this program for the FHA, the monthly fee is 0.55% for a monthly mortgage insurance premium. He uses the refund from the upfront and monthly mortgage insurance premium to pay the closing costs, which is why I don't have to pay the closing costs.

Now, my current interest rate is 6.85%, which I know is high. However, I thought that I couldn't refinance because I was upside down. He said that because it is a streamlined loan, that I don't need an appraisal, and that he was only restricted in that he couldn't refinance me for more than my loan amount.

He also said that he can get me a new interest rate of 3.75%.

What do you think? Have you heard of this new FHA program? I don't want to be scammed. I do like the fact that they have a real business, and i made an appointment to visit tomorrow afternoon. He had me to go hud.gov and look them up under lenders... does this make them legit?

What questions should I ask when I meet him tomorrow?