In-Depth: Federal Housing Administration (FHA)
NAR Issue Summaries
Review NAR policy, and the legislative/regulatory outlook regarding FHA issues.
FHA Programs>
FHA Low/No Downpayment>
Mortgage Loan Limits>
FHA Loan Limits
On October 29, 2009, House and Senate passed legislation to extend the current loan limits for FHA and Freddie Mac and Fannie Mae (the government sponsored enterprises, or GSEs) through December 31, 2010.
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Condominium Approval Process/Condominium Policy
On November 6, 2009, FHA released Mortgagee Letter (ML) 2009-46 A: Temporary Guidance for Condominium Policy and ML 2009-46 B: Condominium Approval Processes for Single Family Housing.
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Home Affordable Modification Program (FHA-HAMP)
The new FHA-Home Affordable Modification Program (FHA-HAMP), announced on July 30, 2009, allows borrowers with a FHA loan currently in default to use a partial claim of up to 30 percent of the unpaid principal combined with a loan modification.
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FHA-HAMP Mortgagee Letter 2009-23> (Word: 57K)
FHA-HAMP Guidelines> (Word: 90K)
Learn more about the Making Home Affordable Program>
Additional Resources from the U.S. Department of Housing and Urban Development (HUD)
Making Home Affordable Program
