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New Mexico Mortgage Finance Authority, $59.9 million of single family mortgage program debt securities.
The administration portrays its mortgage program as a crucial piece of its broader effort to restore vigor to the economy.
Last year, 200 families bought homes through one state-subsidized mortgage program, down from about 400 a few years ago.
The quick revision of this experiment paid off by leading to the launch of a successful new mortgage program.
Connecticut, too, has dropped its rates on a similar mortgage program for first-time buyers, while New Jersey plans to lower its rates this spring.
The mortgage program, subsidized by government payments to lenders, has had many troubles since its introduction in 2009, but Ms. Martinez expressed gratitude to the president.
The mortgage program is designed to help military veterans achieve the centerpiece of the American dream: the chance to own a house.
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Maybe not so much for those in the high-priced market segments that the FHA rarely serves — but even their owners are cut out of FHA's dominant reverse-mortgage program.
Federally insured reverse mortgages, issued under the Home Equity Conversion Mortgage program, are a way for homeowners 62 and older to borrow money using their home equity as collateral.
A $240,000 house, fully paid off by a 62-year-old in Minneapolis, qualifies for a lump-sum payment of $104,000 under the Federal Housing Administration's Home Equity Conversion Mortgage program, the dominant reverse mortgage product.
Federally insured reverse mortgages, officially issued as part of the Home Equity Conversion Mortgage program, are a way for homeowners 62 and older to borrow money using their home equity as collateral.
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