The Federal Housing Administration (FHA) is a United States government agency created as part of the National Housing Act of 1934. It insured loans made by banks and other private lenders for home building and home buying. 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. As of July, 2011, the Acting Commissioner of the FHA is Carol Galante.
Other articles related to "federal housing administration, federal housing, housing, administration, federal":
... In the 1930s, the Federal Housing Authority established mortgage underwriting standards that significantly discriminated against minority neighborhoods ... of subsidized mortgage insurance on the housing market grew, home values in inner-city minority neighborhoods plummeted ... practice, known as redlining, was made illegal by the Fair Housing Act of 1968 ...
... The National Housing Act of 1934 created the Federal Housing Administration (FHA), which was established primarily to increase home construction, reduce unemployment, and operate various loan insurance programs ... As in the Veterans Administration's VA loan program, the applicant for the loan must make arrangements with a lending institution ... The federal government, through the Federal Housing Administration, investigates the applicant and, having decided that the risk is favorable, insures the lending institution against ...
... urban renewal in the 1950s, 1960s, and 1970s federal government projects demolished 20 percent of urban housing units inhabited by African Americans at the same time they only. 1970s African Americans who lived in urban areas still lost housing at about 80 percent of what had been lost in the 60s ...
Famous quotes containing the words federal and/or housing:
“It is odd that the NCAA would place a school on probation for driving an athlete to class, or providing a loan, but would have no penalty for a school that violates Title IX, a federal law.”
—Cardiss L. Collins (b. 1931)
“We have been weakened in our resistance to the professional anti-Communists because we know in our hearts that our so-called democracy has excluded millions of citizens from a normal life and the normal American privileges of health, housing and education.”
—Agnes E. Meyer (18871970)