Government Loan Agencies

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Federal Housing Administration

 

The Federal Housing Administration (FHA), a wholly owned government corporation, was established under the National Housing Act of 1934 to improve housing standards and conditions; to provide an adequate home financing system through insurance of mortgages; and to stabilize the mortgage market. FHA was consolidated into the newly established Department of Housing and Urban Development (HUD) in 1965. Since 1934, FHA has been extremely successful in achieving these goals.

 

FHA Mission - http://www.hud.gov/fha/  
FHA continues to exist to serve public purposes that would otherwise go unserved. Its mission today is to:

  • contribute to the building and preservation of healthy neighborhoods and communities,
  • maintain and expand homeownership, rental housing and healthcare opportunities,
  • stabilize credit markets in times of economic disruption,
  • operate with a high degree of public and fiscal accountability and
  • recognize and value its customers, staff, constituents and partners.

Government National Mortgage Association

 

Ginnie Mae - The Government National Mortgage Association - helps more Americans buy their own homes. Ginnie Mae does not loan money for mortgages. Instead, Ginnie Mae helps make mortgage-backed securities comprised of FHA loans more attractive to investors thereby increasing the availability of mortgage credit.

 

GNMA Mission - http://www.ginniemae.gov/ 

To support expanded affordable housing in America by providing an efficient government-guaranteed secondary market vehicle linking the capital markets with Federal housing markets.


Veterans Affairs

 

The VA Loan Guaranty Service is the organization within the Veterans Benefits Administration charged with the responsibility of administering the home loan program.

 

VA Mission - http://www.homeloans.va.gov/ 

To help veterans and active duty personnel purchase and retain homes in recognition of their service to the Nation. All veterans and other participants in the program will be treated in a courteous, responsive, and timely manner. We will endeavor to operate in the most efficient manner possible to minimize costs and ensure the best use of the taxpayer's dollar.