JOHN C. WEICHER, ASSISTANT SECRETARY FOR HOUSING/FEDERAL HOUSING COMMISSIONER, HUD Mr. Weicher. ... The lender is required to approve drawdowns from a repair escrow and ensure the adequacy of the repairs themselves. Over the ... FHA has a 14 percent default rate on Section 203 (k) loans, compared to 2 percent on our basic Section 203(b) home mortgage insurance program.
|Title||:||The Section 203(k) housing program|
|Author||:||United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations|