Federal Housing Administration

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Federal Housing Administration

An agency of the government of the US. which insures loans made by private lending institutions for the purchase, rehabilitation, or construction of housing on private property.
References in periodicals archive ?
Nebraska officials concluded that in these older cases, Congress did authorize state taxation of military housing involving private developers under the Military Leasing Act of 1947 or the National Housing Act of 1949 (a.
36) The City's powerlessness to alleviate the situation was reflected in futile requests to the provincial government to make the advantages of the National Housing Act available to Calgarians.
With the passage of the National Housing Act, the government committed itself to insuring mortgages running for as long as 20 years, at 6 percent interest, and with as little as 20 percent down.
University Towers, a 547-residence complex on 5-1/2 secure and beautifully landscaped acres in Downtown Brooklyn, is the only New York cooperative to offer Federally-backed mortgage insurance for qualified buyers through Section 203(n) of HUD and the National Housing Act.
A release summarizing the proposal stated, "Today's announcement will create a regulatory framework and codify the legal authority FHA currently has under the National Housing Act.
FHA INSURED MORTGAGE: Project mortgage is insured by the FHA under Section 221 (d) (4) of the National Housing Act.
Congress crafted language as part of the National Housing Act that provided support for a relatively new financial tool--the home-equity conversion mortgage (HECM), commonly known as a reverse mortgage.
Expanding this section of the National Housing Act to include DE lenders would impact roughly 1,428 lenders.
Fitch deems a six-months time horizon for liquidation in a stressful scenario to be feasible because the mortgages are insured by Canada Mortgage and Housing Corporation (CMHC) and therefore eligible for repackaging into National Housing Act mortgage-backed securities (NHA-MBS) and the Canada Mortgage Bond (CMB) programme.
Those values have been estimated in a manner consistent with requirements of the National Housing Act, which requires that median prices for all countries in metropolitan statistical areas (MSAs) be set equal to the median price for the highest cost county, explained FHFA.
Fitch deems a six months time horizon for liquidation in a stressful scenario to be feasible because the mortgages are insured by Canada Mortgage and Housing Corporation (CMHC) and therefore eligible for repackaging into National Housing Act mortgage-backed securities (NHA-MBS) and the Canada Mortgage Bond (CMB) programme.
The National Housing Act provides that the mortgage limit for any given area shall be set at 95 percent of the median house price in that area, as determined by the Department of Housing and Urban Development, except that the FHA mortgage limit in any given area cannot exceed 87 percent of the Freddie Mac loan limit ($417,000), nor be lower than 48 percent of the Freddie Mac loan limit for a residence of applicable size," stated HUD in its Mortgagee Letter.

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