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FHA Bill

Date: 
August 7, 2009
Who: 
Economic Target: 
Maximum Amount: 
$185.00 billion

The Federal Housing Administration (FHA) became the main source for home loans to borrowers with poor credit after subprime lending markets collapsed. This bill gives new lending authority to FHA’s mortgage insurance programs that play a large role in providing low-interest housing loans, raising the loan ceiling from $315 billion to $400 billion. Additionally, the bill increases the securities guarantee authority for the Government National Mortgage Association (Ginnie Mae) from $300 billion to $400 billion.

Notes: 

Maximum amount based on increases in loan ceiling and securities guarantee. Deficit impact unknown.

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