The FHA Story in Summary, 1934-1959
Author : United States. Federal Housing Administration
Publisher :
Page : 32 pages
File Size : 25,67 MB
Release : 1959
Category :
ISBN :
Author : United States. Federal Housing Administration
Publisher :
Page : 32 pages
File Size : 25,67 MB
Release : 1959
Category :
ISBN :
Author : United States. Federal Housing Administration
Publisher :
Page : 24 pages
File Size : 32,11 MB
Release : 1940
Category : Home ownership
ISBN :
Author : United States. Federal Housing Administration
Publisher :
Page : 264 pages
File Size : 41,69 MB
Release : 1936-04
Category : Housing
ISBN :
Author : United States. Federal Housing Administration
Publisher :
Page : 258 pages
File Size : 14,74 MB
Release : 1936
Category : Housing
ISBN :
Author : Katie Jones
Publisher : Createspace Independent Pub
Page : 48 pages
File Size : 26,86 MB
Release : 2013-01-06
Category : Business & Economics
ISBN : 9781481923477
The Federal Housing Administration (FHA) insures home mortgages made by private lenders against the possibility of borrower default. If the borrower does not repay the mortgage, FHA pays the lender the remaining principal amount owed. By insuring lenders against the possibility of borrower default, FHA is intended to expand access to mortgage credit to households, such as those with smaller down payments or below-average credit histories, who might not otherwise be able to obtain a mortgage at an affordable interest rate or at all. FHA also traditionally plays a countercyclical role in the mortgage market. In other words, it generally insures more mortgages during periods when lenders and private mortgage insurers tighten their lending standards and reduce activity in response to market conditions, and it generally insures fewer mortgages at times when lenders and private mortgage insurers make mortgage credit more easily available. When an FHA-insured mortgage goes to foreclosure, the lender files a claim with FHA for the remaining amount owed on the mortgage. Claims on FHA-insured loans have traditionally been paid out of an account, known as the Mutual Mortgage Insurance Fund (MMI Fund), that is funded through fees paid by borrowers, rather than through appropriations. However, if FHA were ever unable to pay claims that it owed, it can draw on permanent and indefinite budget authority with the U.S. Treasury to pay those claims without additional congressional action. In recent years, increased default and foreclosure rates, as well as economic factors such as falling house prices, have contributed to an increase in expected losses on FHA-insured loans. This increase in expected losses has put pressure on the MMI Fund and reduced the amount of resources that FHA has on hand to pay for additional, unexpected future losses. This has led to concern that FHA may need to draw on its permanent and indefinite budget authority for funds from Treasury to hold in reserve to pay for these higher expected future losses, or, eventually, to pay insurance claims. An annual actuarial review of the MMI Fund released in November 2012 showed that, according to current estimates, FHA does not currently have enough funds on hand to cover all of its expected future losses on the loans that it currently insures. The results of this actuarial review heightened concerns that FHA could need funds from Treasury. However, whether FHA actually needs to draw funds from Treasury would be determined as part of the annual budget process, not by the actuarial review. FHA faces an inherent tension between protecting its financial health and fulfilling its mission of expanding access to mortgage credit. In addition, the share of mortgages insured by FHA has increased in the past several years as the availability of mortgage credit has tightened, further contributing to this tension. FHA has recently proposed or implemented a number of changes to its single-family mortgage insurance program that are intended to minimize risk to the MMI Fund while still allowing FHA to support the mortgage market and expand access to affordable mortgages. These changes have included increasing the fees that it charges to borrowers for insurance, modifying its underwriting criteria, and taking steps to increase oversight of lenders who make FHA-insured loans. While many of these changes were made administratively by FHA, some involved congressional action. Congress has also weighed additional changes to FHA's programs, and has considered additional legislation aimed at protecting the financial health of the MMI Fund. An example of such a bill is the FHA Emergency Fiscal Solvency Act of 2012 (H.R. 4264), which passed the House of Representatives during the 112th Congress. An identical bill (S. 3678) has been introduced in the Senate.
Author : United States. Federal Housing Administration
Publisher :
Page : 24 pages
File Size : 12,53 MB
Release : 1961
Category : Older people
ISBN :
Author : John M. Goering
Publisher : The Urban Insitute
Page : 776 pages
File Size : 16,46 MB
Release : 1996
Category : Business & Economics
ISBN : 9780877666561
Whether or not there is discrimination in the mortgage lending market is one of the most extensively debated issues in the civil rights arena. Because many early studies were flawed and the results misinterpreted on both sides of the debate, there is little agreement as to the next essential steps in either research or enforcement. This comprehensive volume seeks to clarify the debate by including rigorous review of fair lending research, applied projects, and enforcement activities to date, as well as recommendations for research needed to resolve unanswered questions. The intent of the authors is to help the housing industry, regulators, advocates, and the research community to better understand the issue of discrimination in an important area of American life -- the right to take out a mortgage to buy a home based on one's credit worthiness, not on one's race or ethnic group.
Author : United States. Federal Housing Administration
Publisher :
Page : 504 pages
File Size : 44,77 MB
Release : 1935
Category : Housing
ISBN :
Author : United States. Federal Housing Administration
Publisher :
Page : 106 pages
File Size : 12,87 MB
Release : 1963
Category : Foreclosure
ISBN :
Author : Richard Rothstein
Publisher : Liveright Publishing
Page : 246 pages
File Size : 33,85 MB
Release : 2017-05-02
Category : Social Science
ISBN : 1631492861
New York Times Bestseller • Notable Book of the Year • Editors' Choice Selection One of Bill Gates’ “Amazing Books” of the Year One of Publishers Weekly’s 10 Best Books of the Year Longlisted for the National Book Award for Nonfiction An NPR Best Book of the Year Winner of the Hillman Prize for Nonfiction Gold Winner • California Book Award (Nonfiction) Finalist • Los Angeles Times Book Prize (History) Finalist • Brooklyn Public Library Literary Prize This “powerful and disturbing history” exposes how American governments deliberately imposed racial segregation on metropolitan areas nationwide (New York Times Book Review). Widely heralded as a “masterful” (Washington Post) and “essential” (Slate) history of the modern American metropolis, Richard Rothstein’s The Color of Law offers “the most forceful argument ever published on how federal, state, and local governments gave rise to and reinforced neighborhood segregation” (William Julius Wilson). Exploding the myth of de facto segregation arising from private prejudice or the unintended consequences of economic forces, Rothstein describes how the American government systematically imposed residential segregation: with undisguised racial zoning; public housing that purposefully segregated previously mixed communities; subsidies for builders to create whites-only suburbs; tax exemptions for institutions that enforced segregation; and support for violent resistance to African Americans in white neighborhoods. A groundbreaking, “virtually indispensable” study that has already transformed our understanding of twentieth-century urban history (Chicago Daily Observer), The Color of Law forces us to face the obligation to remedy our unconstitutional past.