FHA To Insure Mixed-Use Development Mortgages in OZs through Section 220

Friday, August 9, 2019 - 10:00am

The U.S. Department of Housing and Urban Development (HUD) today announced that the Federal Housing Administration (FHA) will insure mortgages on mixed-use development in opportunity zones (OZs) under the agency’s Section 220 program. In a speech, HUD Secretary Ben Carson said FHA can be a key partner for developers in OZs. The HUD Section 220 program insures lenders against loss on mortgage default.