Federal Housing Administration And The U.S. Department Of Housing And Urban Development: Question Preview (ID: 11474)

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Since the birth of FHA, HUD has adopted five core missions EXCEPT
a) Improving the Physical, Social, and Economic Health of Cities
b) Assisting Homeless Persons with Housing and Support Services
c) Discrimination in Housing Markets
d) Increasing Homeownership

The Federal Housing Administration was founded in the early 1930’s. Home ownership in the U.S. was under___due to the strict requirements of having a___downpayment.
a) 50% ; 40%
b) 51% ; 40%
c) 50% ; 35%
d) 40% ; 50%

How was FHA was able to stimulate the economy?
a) increased construction and building projects
b) established guidelines to steer mortgage investors away from minority areas
c) decreased racially restrictive property deeds
d) all of the above

In an effort to increase home ownership among all racial and economic groups, regulation pushed increased “___” lending to lower income families
a) subsidized
b) Subprime
c) FHA
d) none of the above

The Federal Housing Administration does not
a) funded solely through the governement
b) make loans but insures the loans from private lenders
c) enhanced its mission by implementing and enforcing a variety of civil rights laws directly correlate
d) approve loans that are insured by the government

A pro of having and FHA loan is
a) Maximum mortgage limits that vary by state and county
b) Few to none prepayment penalties
c) Recipients must follow strict mortgage insurance guidelines
d) Fixed rate payments of 15 or 30 years

What is the two kinds of insurance premiums
a) upfront and paid in full premium
b) monthly payment and fixed rate
c) Upfront and Monthly
d) none of the above

How did HUD helped fuel risky lending?
a) Neglect of examining whether barrowers could make payments on loans classified as affordable
b) decrease of racial discrimination and an increase of FHA loans
c) Neglect of insuring borrowers for repayment of the loans
d) Increased lending, insured by HUD, although made with good intend proved troublesome when large amou

Although the FHA advocated for equal opportunity, many minorities remained disadvantaged until the HUD came to pass with a wide array of civil rights laws
a) False
b) True

The Federal Housing Administration is the largest insurer of mortgages globally, insuring over 34 million mortages since its birth in
a) 1932
b) 1923
c) 1924
d) 1934

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