Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Administering Agency/Entity	Department of Housing and Urban Development
Short Description	Provides insurance for mortgages to finance the construction, rehabilitation, acquisition, or improvement of cooperative housing projects with five or more units. A cooperative is a housing project owned by a nonprofit cooperative corporation or nonprofit trust; residents own membership stocks that give them the right to live in a unit.
Primary Purpose	Assistance for buying, selling, or financing a home
Type of Housing Supported	Homeownership
Type of Assistance	Insured loan
Fiscal Year 2010 Obligations	Loans are insured under the Mutual Mortgage Insurance Fund. The expected credit subsidy costs for all loan commitments made in fiscal year 2010 under the Mutual Mortgage Insurance Fund were -$2,546,000,000. These estimates are revised in subsequent years and the ultimate cost will not be known until the loans have matured, which in some cases may be 30 years.