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

U.S. Government Accountability Office

Growing Equity Mortgage Insurance (Section 245(a))

Administering Agency/Entity Department of Housing and Urban Development
Short Description Provides mortgage insurance to protect lenders against the risk of default on mortgages in which scheduled increases in monthly payments are applied to the outstanding principal balances of the mortgages; thereby considerably shortening their terms.
Primary Purpose Assistance for buying, selling, or financing a home
Type of Housing Supported Homeownership
Type of Assistance Insured loan
Fiscal Year 2010 Obligations None; no loans were made in fiscal year 2010.

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