Federal Housing Administration


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Federal Housing Administration (FHA)

Federally sponsored agency chartered in 1934 whose stock is currently owned by savings institutions across the United States. The agency buys residential mortgages that meet certain requirements, sells these mortgages in packages, and insures the lenders against loss.

Federal Housing Administration

An agency of the United States federal government responsible for encouraging homeownership. It does this primarily by providing insurance to private mortgage lenders. It finances its activities by buying mortgages from the lender, repackaging them as mortgage-backed securities, and re-selling them. It also makes mortgage loans directly. It was established in 1934.

Federal Housing Administration (FHA)

A government-sponsored organization insuring mortgage loans made by private lenders.

Federal Housing Administration (FHA).

The Federal Housing Administration (FHA) was established by the federal government in 1937 to make home ownership possible for more people and to administer the home loan insurance program. It was consolidated into the Department of Housing and Urban Development (HUD) in 1965.

Among its other responsibilities, the FHA sets credit standards and loan limits, monitors loan quality and availability, and insures lenders against mortgage losses. That insurance, for which borrowers pay a mortgage insurance premium, encourages qualifying lenders to make FHA loans.

Federal Housing Administration (FHA)

Created by Congress in 1934 and later added to the Department of Housing and Urban Development's (HUD) Office of Housing in 1965. The FHA (www.fha.gov) says it is the only government agency that is entirely self-supporting and receives no taxpayer funds at all. It provides mortgage insurance on loans made by FHA-approved lenders, making those loans risk-free for the originators.

References in periodicals archive ?
While serving as the senior career attorney managing the largest legal operation in the country focused on affordable housing and community development law, with 700 people and a budget of $80 Million, he provided substantive legal advice on all HUD programs: including investment incentives for publicly assisted, as well as privately financed residential development; Federal Housing Administration transactions; program, regulatory and fair housing enforcement; Federal procurement, ethics, and oversight of the GSEs - FannieMae/Freddie Mac.
The trust consists of a mortgage pool of home equity conversion mortgages (each, a 'HECM') that are insured by the Federal Housing Administration (FHA) and secured by one- to four-family, first lien, residential properties with a cut-off date balance of $127,777,847.
The collateral of the aforementioned trust consists primarily of mortgage loans insured by the Federal Housing Administration (73.
Nearly all the remaining loans are either insured by Federal Housing Administration (FHA), the Maryland Housing Fund (MHF), Freddie Mac pursuant to a reinsurance agreement with MHF, or are part of the HUD risk share program.
Qualified mortgage loans consist of mortgages with loan to value ratios (LTVs) exceeding 80% to be guaranteed or insured by the Department of Veterans Affairs (VA), the Federal Housing Administration, or private mortgage insurers.
Bradford Bank has been a mortgage lender since shortly after its founding in 1903 and an approved Federal Housing Administration lender since 1935.

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