2023-09479: Section 184 Indian Housing Loan Guarantee Program; Reduction to the Upfront and Annual Loan Guarantee Fees
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The Section 184 Indian Housing Loan Guarantee program ("Section 184 program") is a home mortgage program specifically designed for American Indian and Alaska Native families, Alaska villages, Tribes, or Tribally Designated Housing Entities. Congress established this program in 1992 to facilitate homeownership and increase access to capital in Native American communities. Based on the Section 184 program's strong performance and low default rate, HUD has determined that the fees charged to the borrower can be reduced without risk to the overall performance of the program. HUD is hereby exercising its authority to decrease the upfront loan guarantee fee from 1.50 to 1.00 percent and the annual loan guarantee fee from 0.25 to 0.00 percent for all new or updated Section 184 Firm Commitments as of the effective date of this Notice, including refinances.
The agency’s own summary, as published.
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