National Housing Act

(redirected from National Housing Act of 1934)
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National Housing Act

Legislation in the United States, passed in 1934, that established the Federal Housing Administration and the Federal Savings and Loan Insurance Corporation. The FHA provides mortgages to those who otherwise may not be able to afford them. The FSLIC gave insurance to savings and loan corporations, which reduced the likelihood that savings and loans would go bankrupt and therefore made it less risky for them to make mortgage loans. Both aspects of the Act were intended to increase American homeownership. It was part of the New Deal.
References in periodicals archive ?
When Congress passed the National Housing Act of 1934, a key component of the New Deal, the Federal Housing Administration (FHA) was created to help resuscitate the U.
The Federal Savings and Loan Insurance Corporation (FSLIC) was established by the National Housing Act of 1934 and placed under the supervision of the Federal Home Loan Bank Board.
The National Housing Act of 1934 created the FHA to administer a federal mortgage insurance program.
FHA, Federal Housing Administration, (a wholly owned government corporation), was established under the National Housing Act of 1934 to improve housing standards and conditions; to provide an adequate home financing system through insurance of mortgages; and to stabilize the mortgage market.
Imagine, before FDR's National Housing Act of 1934 (when the government began guaranteeing home-mortgage loans), only the wealthiest Americans could afford to own a home.
Created by the National Housing Act of 1934, FHA was established in response to the general lack of available mortgage insurance during the Great Depression.
More than 90 percent of the home improvement contracts were partially insured by the FHA under Title I of the National Housing Act of 1934.
The 58-year-old program was created by Congress as part of the National Housing Act of 1934.
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