Federal Housing Administration; established in 1934 to advance homeownership opportunities for all Americans; assists homebuyers by providing mortgage insurance to lenders to cover most losses that may occur when a borrower defaults; this encourages lenders to make loans to borrowers who might not qualify for conventional mortgages. An agency of the U.S. Department of Housing and Urban Development (HUD), that insures residential mortgage loans made by private lenders. For more information, visit http://www.fha.com/
