HUD 184 may close 1,000 mortgages

ICT [2006/03/15]HUD 184 may close 1,000 mortgages: "The Department of Housing and Urban Development is on-track to close 1,000 mortgages to American Indians this fiscal year, the department's top official told the National Congress of American Indians.

HUD Secretary Alphonso Jackson also told the NCAI's annual legislative meeting that the Bush administration has proposed increasing the amount it will commit to back the HUD 184-guaranteed Indian mortgage for fiscal year 2007.

Jackson told the Native leaders that the HUD 184 is on pace to close 1,000 loans for $120 million in mortgage finance this year.

The $2 million increase in extra guarantee money called for in the FY '07 budget would double the guarantee authority under the HUD 184 program to $250 million. "
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