Federal Housing Administration

What is Federal Housing Administration known for?


business called

: web.archive.org web 20000824160429 http: www.phoenixnewtimes.com issues 2000-01-13 feature.html page2.html archivedate 2000-08-24 in 1990 Lapre and his wife started a credit repair business called Unknown Concepts. Lapre then began selling a 36-page booklet explaining how to recover a Federal Housing Administration insurance refund after paying off a home mortgage. He also began offering "900" phone lines (Premium-rate telephone number). On TV infomercials


number quot

: web.archive.org web 20000824160429 http: www.phoenixnewtimes.com issues 2000-01-13 feature.html page2.html archivedate 2000-08-24 in 1990 Lapre and his wife started a credit repair business called Unknown Concepts. Lapre then began selling a 36-page booklet explaining how to recover a Federal Housing Administration insurance refund after paying off a home mortgage. He also began offering "900" phone lines (Premium-rate telephone number). On TV infomercials


independent voice

Press year 1992 page 19 Because of the large payment at the end of the loan, refinancing risk resulted in widespread foreclosures. It was the first mortgage loan that was fully amortized (fully paid at the end of the loan) precluding successive loans, and had fixed interest rates and payments. Cooper continued to be an independent voice in the Senate. During the Red Scare, he was critical of attempts to permit illegal wiretap (Telephone tapping) evidence in federal courts and attempts to reduce the protections against self-incrimination granted by the Fifth Amendment (Fifth Amendment to the United States Constitution). Schulman, p. 62 Nevertheless, he refused to support stripping Joseph McCarthy, the leading figure in the Red Scare, of his major Senate committee chairmanships, cautioning that "many of those who bitterly oppose Senator McCarthy call for the same tactics that they charge him with." Schulman, pp. 62–63 He was the only Republican to oppose the Bricker Amendment, which would have limited the president's treaty-making power, because he concluded that the issues addressed by the amendment were not sufficient to warrant a change to the Constitution (United States Constitution). Schulman, p. 60 He also opposed the Submerged Lands Act and the Mexican Farm Labor bill, both of which were supported by the Eisenhower (Dwight D. Eisenhower) administration. Schulman, p. 64 He denounced Eisenhower's appointment of Albert M. Cole, an open opponent of public housing, as Federal Housing Administrator (Federal Housing Administration) and opposed many of the agricultural reforms proposed by Eisenhower's Agriculture Secretary, Ezra Taft Benson. Again, his independence did little to diminish his stature in the party. In 1954, he was named to the Senate Republican Policy Committee. In 2000, Cuomo led HUD efforts to negotiate an agreement with the United States' largest handgun manufacturer, Smith & Wesson that required Smith & Wesson to change the design, distribution and marketing of guns to make them safer and to help keep them out of the hands of children and criminals. in 1990 Lapre and his wife started a credit repair business called Unknown Concepts. Lapre then began selling a 36-page booklet explaining how to recover a Federal Housing Administration insurance refund after paying off a home mortgage. He also began offering "900" phone lines (Premium-rate telephone number). On TV infomercials in the early–mid 1990s, he claimed that by placing "tiny classified ads" in newspapers he was "able to make $50,000 a week from his tiny one-bedroom apartment". Don Lapre Sells Tiny Classified Ads To obtain public mortgage insurance from the Federal Housing Administration in the United States, Ms. Smith must pay a ''mortgage insurance premium'' (MIP) equal to 1 percent of the loan amount at closing http: www.fha.com fha_requirements_mortgage_insurance.cfm . This premium is normally financed by the lender and paid to FHA on the borrower's behalf. Depending on the loan-to-value ratio, there may be a monthly premium as well. The United States Veterans Administration also offers insurance on mortgages. Funds accumulated rapidly under the 10-36 Plan, and were soon used to invest in numerous housing and economic development initiatives. In 1964, PIA made its first investment in an 8-unit apartment building in an all-white community. The rationale for buying this property was that it would help address a long-standing problem facing blacks - racial discrimination in housing. The leaders of the Progress Movement believed that money often has the power to speak louder than words in the struggle to improve race relations. One year after its first investment in housing, PIA built Zion Gardens, a middle-income garden apartment complex in North Philadelphia. The $1 million project was financed by using 10-36 funds to leverage a loan from the Federal Housing Administration and a grant from the United States Department of Housing and Urban Development (HUD).


hit quick

, and the FHA could suffer substantial losses. Joshua Zumbrun and Maurna Desmond of ''Forbes'' have written that eventual government losses from the FHA could reach $100 billion. Lending Over Backward, Forbes The Next Hit: Quick Defaults, The Washington Post The troubled loans are now weighing on the agency’s capital reserve fund, which by early 2012 had fallen below its congressionally mandated minimum of 2%, in contrast to more than 6% two years earlier. House Bill Aims to Save FHA Mortgage Insurance Fund in “Crisis" By November 2012, the FHA was essentially bankrupt. in 1990 Lapre and his wife started a credit repair business called Unknown Concepts. Lapre then began selling a 36-page booklet explaining how to recover a Federal Housing Administration insurance refund after paying off a home mortgage. He also began offering "900" phone lines (Premium-rate telephone number). On TV infomercials in the early–mid 1990s, he claimed that by placing "tiny classified ads" in newspapers he was "able to make $50,000 a week from his tiny one-bedroom apartment". Don Lapre Sells Tiny Classified Ads To obtain public mortgage insurance from the Federal Housing Administration in the United States, Ms. Smith must pay a ''mortgage insurance premium'' (MIP) equal to 1 percent of the loan amount at closing http: www.fha.com fha_requirements_mortgage_insurance.cfm . This premium is normally financed by the lender and paid to FHA on the borrower's behalf. Depending on the loan-to-value ratio, there may be a monthly premium as well. The United States Veterans Administration also offers insurance on mortgages. Funds accumulated rapidly under the 10-36 Plan, and were soon used to invest in numerous housing and economic development initiatives. In 1964, PIA made its first investment in an 8-unit apartment building in an all-white community. The rationale for buying this property was that it would help address a long-standing problem facing blacks - racial discrimination in housing. The leaders of the Progress Movement believed that money often has the power to speak louder than words in the struggle to improve race relations. One year after its first investment in housing, PIA built Zion Gardens, a middle-income garden apartment complex in North Philadelphia. The $1 million project was financed by using 10-36 funds to leverage a loan from the Federal Housing Administration and a grant from the United States Department of Housing and Urban Development (HUD).


ability

on the black and minority communities, due to the lack of ability to pass on wealth to subsequent generations. Minorities are still at a disadvantage when it comes to property ownership due to the past FHA regulations during the New Deal era. http: cml.upenn.edu redlining intro.html Operations The Federal Housing Administration is one of the few government agencies that is completely self-funded. Homes and Communities

;residential security maps" to indicate the level of security for real-estate investments in each surveyed city. Such maps defined many minority neighborhoods in cities as ineligible to receive financing. The maps were based on assumptions about the community, not accurate assessments of an individual's or household's ability to satisfy standard lending criteria. Since African-Americans were unwelcome in white neighborhoods, which frequently instituted racial restrictive covenants

scandal gave Nixon the ability to shut down HUD's remaining desegregation efforts with little political risk; by January 1973, all federal housing funds had been frozen. ref name "bonastia-3


centuries quot

. 1872 – 1943" , University of Montana School of Journalism. Retrieved December 5, 2011 "Montana: a history of two centuries", Michael P. Malone, Richard B. Roeder, William L. Lang. University of Washington Press, Nov 1, 1991. ISBN 0-295-97129-0, 9780295971292. p. 256 The business of lending and borrowing money has evolved qualitatively in the post-World-War-II era. It was not until that era


major emphasis

. In March 1961 Kennedy sent Congress a special message, proposing an ambitious and complex housing program to spur the economy, revitalize cities, and provide affordable housing for middle- and low-income families. The bill proposed spending $3.19 billion and placed major emphasis on improving the existing housing supply, instead of on new housing starts, and creating a cabinet-level Department of Housing and Urban Affairs (United States Department of Housing and Urban Development) to oversee


home building

. It sets standards for construction and underwriting and insures loans made by banks and other private lenders for home building. The goals of this organization are to improve housing standards and conditions, provide an adequate home financing system through insurance of mortgage loans, and to stabilize the mortgage market. The Acting Commissioner of the FHA is Biniam Gebre. It is different from the Federal Housing Finance Agency (FHFA), which supervises government-sponsored enterprise


making power

Schulman, pp. 62–63 He was the only Republican to oppose the Bricker Amendment, which would have limited the president's treaty-making power, because he concluded that the issues addressed by the amendment were not sufficient to warrant a change to the Constitution (United States Constitution). Schulman, p. 60 He also opposed the Submerged Lands Act and the Mexican Farm Labor bill, both of which were supported by the Dwight D


work time

Inc. work Time (Time (magazine)) date 1988-12-26 author Lamar, Jacob V. whose job would be to foster public sector and private sector methods to meet the demands of public housing. However, the scandals

: www.time.com time magazine article 0,9171,975501,00.html title The Political Interest accessdate 2008-03-05 publisher Time Inc. work Time (Time (magazine)) date 1992-05-11 author Kramer, Michael Although Kemp did not affect much policy as HUD's director, he cleaned up HUD's reputation,

accessdate 2008-03-04 date 1996-08-20 publisher The New York Times Company work The New York Times author Holmes, Steven A. and developed a plan to salvage the troubled Federal Housing Administration.

Federal Housing Administration

The '''Federal Housing Administration''' ('''FHA''') is a United States government agency created as part of the National Housing Act of 1934. It sets standards for construction and underwriting and insures loans made by banks and other private lenders for home building. The goals of this organization are to improve housing standards and conditions, provide an adequate home financing system through insurance of mortgage loans, and to stabilize the mortgage market. The Acting Commissioner of the FHA is Biniam Gebre.

It is different from the Federal Housing Finance Agency (FHFA), which supervises government-sponsored enterprises.

Search by keywords:


Copyright (C) 2015-2017 PlacesKnownFor.com
Last modified: Tue Oct 10 05:56:30 EDT 2017