COVID-19 funds were distributed to one million homeowners under mortgage insurance program.
The Federal Housing Administration (FHA) recently released its annual report to Congress. Key to the report is the status of the Mutual Mortgage Insurance Fund, which is used to power the FHA’s mortgage insurance programs. Using the fund, the FHA helped more than one million homeowners stay in their homes, providing COVID-19 payment recovery plans for those more than 90 days behind on their mortgage payments over the last year. As of September 20, the FHA’s mortgage insurance fund showed a capital ratio of 11.11 percent.
“I’m so proud of FHA’s work to make homeownership possible for our nation’s underserved households and communities,” said Federal Housing Commissioner Julia Gordon. “Behind the bottom-line numbers are some two million individuals and families who were able to achieve homeownership or stay in their homes through hard times thanks to assistance from FHA.”
As the Lord Leads, Pray with Us…
- For Commissioner Gordon as she oversees the Federal Housing Administration.
- For Secretary Marcia Fudge to seek the Lord’s direction as she heads the federal housing department.
- For Americans who are having issues paying their housing costs.
Sources: Department of Housing and Urban Development
