NATIONAL HOUSING ACT MORTGAGE INSURANCE FUNDS AND PROGRAMS COVERED 1 Single Family Home Ownership Mutual Mortgage Insurance Fund [§ 202] Section 203 (except subsections (k), (o), (p), and (q)) Cooperative Management Housing Insurance Fund [§ 213(k)] Section 213 4 1 This table lists the provisions of the National Housing Act under which mortgage insurance is currently authorized in law, without regard to whether the authority is now being utilized (or ever was utilized). Individual subsections of sections are indicated in cases in which mortgages insured under the section may be obligations of more than one insurance fund. In addition to mortgages under the sections listed, there are or may be outstanding mortgages insured under the following expired provisions of the National Housing Act: Section 8 (single family), section 603 (single family), and section 803 (multifamily). Certain provisions of the National Housing Act do not provide independent authority to insure mortgages but permit insurance under other sections subject to additional limitations. Except as otherwise noted below, the mortgages insured pursuant to such provisions are obligations of the fund corresponding to the underlying insurance authority. Such provisions are as follows: Sections 223, 225, 238(c), 244, 245, 247, 248, 251, 252, and 253. Multifamily operating loss loans insured pursuant to section 223(d) are insured under the same section as the original multifamily mortgage. All mortgages insured pursuant to sections 223(e) and 238(c) are obligations of the Special Risk Insurance Fund. 2 Multifamily supplemental loans insured under section 241 are obligations of the General Insurance Fund, except that section 241 specifically provides that loans for projects covered by Cooperative Management Housing Insurance Fund mortgages are obligations of the CMHIF and loans for projects covered by section 236 mortgages are obligations of the SRIF. 3 The title X land development mortgage insurance program is implemented in a manner similar to the multifamily mortgage insurance programs, but is administered by the HUD staff for single family mortgage insurance programs. * Some project mortgages insured under section 213 prior to the creation of the CMHIF may continue to be obligations of the GIF pursuant to section 213(m). Section 213 unit mortgages are considered by HUD to be obligations of the GIF (See 24 CFR 213.751), although section 213(e) incorporates various provisions of section 204 without substituting references to the GIF in lieu of references to the MMIF. |