Federal Housing Administration

Federal Housing Administration
(FHA)
   The FHA was established with the National Housing Acts of 1934 and 1937. The intention of the legislation was to provide work for unemployed building workers by tackling problems of poor housing. The administration was empowered to provide loans to banks for relending to individuals to build or repair homes and to provide insurance for lending institutions. Limited leadership initially restricted the amount of assistance for poorer areas, but amendments to the original act in 1938 led to a doubling of the number of new homes financed. By 1939, 275,000 small homes had been constructed with FHA financing, and more than 1.5 million homes had been repaired or improved.

Historical Dictionary of the Roosevelt–Truman Era . . 2015.

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