Open Forum: Preserving Affordable Rentals

Open Forum: Preserving Affordable Rentals

In recent testimony before the Senate Banking Subcommittee on Housing, John Weicher, FHA Commissioner discussed affordable housing preservation. Excerpts of his testimony are presented. In the fiscal year just completed, the Federal Housing Administration's basic multifamily housing insurance p...

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Veröffentlicht in:National Mortgage News 2002-10, Vol.27 (7), p.4
1. Verfasser: Weicher, John
Format: Artikel
Sprache:eng
Schlagworte:
Affordable housing
Congressional hearings
Government agencies
Multiple dwellings
Prepayments
Renovation & restoration
Rentals
Rents
Reorganization
Weicher, John
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Zusammenfassung:In recent testimony before the Senate Banking Subcommittee on Housing, John Weicher, FHA Commissioner discussed affordable housing preservation. Excerpts of his testimony are presented. In the fiscal year just completed, the Federal Housing Administration's basic multifamily housing insurance program, Section 221(d)(4) experienced a very substantial increase in activity. Overall, FHA made commitments for 198 new construction or substantially rehabilitated projects, with over 38,000 units and totalling $2.8 billion worth of mortgage loans. In FY 2002, HUD was able to operate Section 221(d)(4) on a self-sustaining basis.
ISSN:1050-3331