HUD Expands Section 220 Program to All Opportunity Zones

Aug 09, 2019

Housing and Urban Development (HUD) Secretary Ben Carson has announced the Federal Housing Administration (FHA) will insure mortgages on mixed-use developments under the agency’s Section 220 Program in the lower income communities participating in the Opportunity Zones program.

FHA’s Section 220 Program insures lenders against loss on mortgage default and has been used for urban rental housing in areas targeted for overall revitalization. Carson’s announcement expands eligibility of mortgages insured under this program to all 8,764 Opportunity Zone localities, including those in rural areas.

“By expanding this program’s reach, we hope to significantly boost private investment in Opportunity Zones and generate growth in development in neighborhoods that need it most,” said Carson. “With expanded mixed-used development in Opportunity Zones comes economic revitalization and job growth which is just what the doctor ordered for residents living in these communities.”

About the author

Phil Hall

Link copied

Published

Aug 09, 2019

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Nov

Pasadena, CA

More from

Regulation and Compliance

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

ACES Targets Loans Traditional QC Samples May Miss

New population-testing technology applies lender-defined rules across selected origination and servicing records, then directs flagged files to human reviewers

Tech

Sep 21, 2026

The Risk Your Credit Score Can't See

Place-based market risk can produce dramatically different default outcomes among borrowers with nearly identical credit profiles

Opinion

Sep 17, 2026

Trump Taps FHA Insider Matt Jones To Lead Agency

The former MBA policy executive would oversee FHA underwriting, servicing, and credit-score changes that directly affect lenders and borrowers

Regulation and Compliance

Sep 16, 2026

Regulators Propose Risk-Based Vendor Oversight For Community Lenders

Plan could ease reviews of lower-risk mortgage technology while preserving lender responsibility for vendor failures