The Federal Housing Administration and Long-Term Affordable Homeownership Programs
U.S. Department of Housing and Urban Development
The views expressed in this article are those of the author and do not represent the official positions or policies of the Office of Policy Development and Research or the U.S. Department of Housing and Urban Development.
The Policy Briefs department summarizes a change or trend in national policy that may have escaped the attention of researchers. The purpose is to stimulate the analysis of policy in the field while the policy is being implemented and thereafter.
This policy brief presents the results of a limited survey of housing and mortgage financing practitioners regarding the usage of Federal Housing Administration (FHA) homebuyer mortgage insurance in long-term affordable housing (LTAH) programs (which can also be called shared-equity homeownership). In so doing, the brief presents a description of (1) the various types of LTAH, (2) the U.S. Department of Housing and Urban Development's (HUD's) involvement in LTAH initiatives, (3) the major obstacles to greater involvement of LTAH in FHA and other HUD affordable homeownership programs, (4) arguments for and against changing FHA's current policies, and (5) research that would address core issues regarding HUD's general lack of knowledge about and engagement with LTAH models.
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