National Housing Act of 1934
E10664
The National Housing Act of 1934 is a U.S. federal law enacted during the New Deal to stimulate the housing market by improving mortgage lending practices and expanding homeownership through government-backed insurance programs.
Aliases (2)
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
New Deal legislation
→
United States federal statute → |
| administeredBy |
Federal Housing Administration
→
|
| aimedToAddress |
high foreclosure rates in the early 1930s
→
housing shortages during the Great Depression → instability in mortgage lending markets → |
| appliesTo |
private financial institutions participating in FHA programs
→
residential mortgage loans meeting FHA standards → |
| authorized |
federal insurance of private mortgage loans
→
|
| branchOfGovernment |
legislative
→
|
| codifiedIn |
Title 12 of the United States Code
→
|
| country |
United States
→
|
| createdAgency |
FHA
→
Federal Housing Administration → |
| dateEnacted |
1934-06-27
→
|
| effect |
extension of mortgage repayment periods
→
reduction of down payment requirements for home purchases → standardization of long-term, amortized mortgages in the United States → |
| enactedDuring |
New Deal
→
|
| focus |
improvement and modernization loans
→
mortgage insurance for single-family homes → |
| historicalContext |
Great Depression
→
|
| jurisdiction |
United States federal government
→
|
| legislativeBody |
United States Congress
→
|
| longTermImpact |
expansion of homeownership in the United States
→
growth of the 30-year fixed-rate mortgage → increased federal role in housing finance → |
| partOf |
New Deal housing programs
→
|
| policyArea |
banking and finance
→
housing policy → mortgage insurance → urban development → |
| presidentAtEnactment |
Franklin D. Roosevelt
→
|
| provides |
federal insurance for approved home mortgages
→
insurance for lenders against mortgage default → |
| purpose |
to expand homeownership
→
to improve mortgage lending practices → to provide federal insurance for home mortgages → to stimulate the housing market → |
| relatedLegislation |
Housing Act of 1937
→
Housing Act of 1949 → |
| shortTitle |
National Housing Act
→
|
| signedBy |
Franklin D. Roosevelt
→
|
| sponsorType |
Democratic administration initiative
→
|
| targetGroup |
homebuyers
→
mortgage lenders → |
| targetSector |
residential housing market
→
|
| yearEnacted |
1934
→
|
Referenced by (8)
| Subject (surface form when different) | Predicate |
|---|---|
|
Housing and Community Development Act of 1977
("National Housing Act")
→
Housing and Economic Recovery Act of 2008 ("National Housing Act") → |
amends |
|
Federal Savings and Loan Insurance Corporation
→
|
createdBy |
|
Home Equity Conversion Mortgage program
("Section 255 of the National Housing Act")
→
|
legalAuthority |
|
Federal Housing Administration
→
|
legalBasis |
|
United States housing policy
→
|
regulatedBy |
|
Home Owners' Loan Act of 1933
→
|
relatedTo |
|
National Housing Act of 1934
("National Housing Act")
→
|
shortTitle |