Mortgage Insurance Homes for Disaster Victims

The Department of Housing and Urban Development's Federal Housing Administration administers the Mortgage Insurance Homes for Disaster Victims program (CFDA 14.119), which provides mortgage insurance to HUD-approved financial institutions lending to homeowners whose primary residences were destroyed or damaged beyond repair by a Presidentially-declared Major Disaster.

The program is activated only when the President declares a Major Disaster and remains in effect for one year from the declaration date. Eligible applicants are homeowners whose homes were destroyed or damaged to the extent that rebuilding is necessary as a result of the declared disaster. Applications must be submitted within one year of the disaster declaration through an HUD-approved lending institution; applicants whose loan applications are refused by one lender may reapply with the same lender (subject to lender concurrence) or apply with a different HUD-approved participating lender. Lenders participating in the program must be FHA-approved and must service and maintain mortgage records in accordance with prudent lending practices and HUD regulations.

The program's structure is demand-driven and event-contingent rather than continuous. Mortgage insurance coverage amounts vary based on individual loan circumstances. No recent grant awards, open grant opportunities, or portfolio data are available in the source material to assess current activity levels, typical award magnitudes, or lending volume under recent disaster declarations. The program's activation and duration are entirely dependent on Presidential disaster declarations and the timing of homeowner applications within the one-year window following each declaration.

Organizations seeking to participate in this program should maintain FHA approval status if they are lending institutions, or should work with HUD-approved lenders if they are homeowners seeking mortgage insurance following a Presidentially-declared disaster.