Posted To: MND NewsWire
The Department of Housing and Urban Development (HUD) unveiled its 2013 budget proposal today, asking Congress for about $ 44 billion. The amount is roughly the same as the amount Congress authorized for the 2012 budget year. In addition, HUD is asking for authority to guarantee $ 400 billion in mortgages through FHA’s Mutual Mortgage Insurance Fund which is expected to provide 1.2 million single family mortgages, $ 149 billion in loan volume, during the year and $ 500 billion in Ginnie Mae guarantee authority in order to help finance a wide array of government-insured products. In addition it requests $ 25 billion in loan guarantee authority for the General and Special Risk Insurance Panel which will provide an estimated 156,000 units in multifamily housing properties and 80,600 beds in health…(read more)
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