Although no state has challenged the tax-exempt status under the 1996 MHPI to date, there have been numerous other tax appeal cases filed by states under former statutes involving prior military housing projects constructed on federally leased land, such as the National Housing Act
of 1949 (a.k.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.
In 1934, Congress passed the centerpiece of Roosevelt's housing legislation, the National Housing Act
, which established the Federal Housing Administration.
As part of President Franklin Roosevelt's New Beal plan to restructure the economy in the wake of the Great Depression, the Reconstruction Finance Corporation (RFC), under provisions of the National Housing Act
, chartered the National Mortgage Association of Washington as a subsidiary on Feb.
New legislation designed to increase loan limits under the National Housing Act
for multifamily housing mortgage insurance has received unqualified support from the Hudson River Property Owners and Conservators Association (HRPOCA).
We also note that the National Housing Act
recently was amended to require creditors to provide a similar statement annually to borrowers on mortgages insured by the Federal Housing Administration.
The Housing and Economic Recovery Act of 2008 (HERA) transferred FHA's condominium mortgage insurance authority from Section 234 of the National Housing Act
to Section 203, requiring the issuance of updated administrative guidance as well as new underlying regulations.
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
. This enables all qualified buyers to obtain 95-percent financing in the form of a fixed-rate loan from Fleet Mortgage Company.
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
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.
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.
"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.