Rural Housing Service Announces Existing Program Commitment Authority will be Exhausted by the End of April

Last week, the federal Rural Housing Service (RHS) announced that existing program commitment authority will be exhausted by the end of April. RHS loans are funded by private lenders and insured by the RHS. Because private home loan sources of capital have largely dried up, many rural families will be left without affordable loan options. Because many manufactured housing purchases in rural areas are funded using the RHS program, MHI has sent letters to the House and Senate requesting that Congress approve an additional $10 billion as soon as possible. Click here for the House version and click here for the Senate version. Many other national housing groups are joining MHI in making similar requests to Congress.

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