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The Federal housing administration (fha) is a United States government agency founded by President franklin delano roosevelt, created in part by the National Housing Act of 1934. The FHA sets standards for construction and underwriting and insures loans made by.
Although fha programs dramatically expanded home ownership, not all segments of the population benefited from them. fha-insured mortgages favoured the construction of new single-family homes rather than multifamily units, and in time the nuclear family residing in a single-family home became synonymous with the American dream. However, FHA legislation initially did not benefit low-income families, single women (unless they were war widows), the non-wage-earning elderly, or racial minorities.