In addition, the FHASecure plan, which the Federal Housing Administration (FHA) announced late last summer, offers qualified borrowers who are delinquent because of an interest rate reset and who have some equity in the home the opportunity to refinance into an FHA-insured mortgage.
Recently, the Congress and Administration temporarily increased the maximum loan value eligible for FHA insurance, which will allow more borrowers access to this program. 2  Analysis based on Reuters/University of Michigan Surveys of Consumers data provided to the Federal Reserve Board. 3  The Federal Reserve Board staff estimates are based on 2006 HMDA data.