Guarantors of primary mortgages

{
  "id": "MLC-T-ECS-000850",
  "term": "Guarantors of primary mortgages",
  "field": "Economic statistics",
  "definition": "As used in the American Housing Survey, this item refers to the federal government agencies that currently insure or guarantee mortgages or similar debts, including the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and Rural Housing Service/Rural Development (RHS/RD).\n\nMortgage insurance is a promise to pay the lender's losses in case the borrower fails to keep up the required mortgage payments and defaults on the loan. Such insurance protection is offered by the government, acting as an insurance agent, and by private mortgage insurance companies. Mortgage loans that are not insured or guaranteed by these government agencies are referred to as \"conventional\" mortgages. Conventional mortgages, including mortgages insured or guaranteed by state or local governments, are shown as \"Other types.\"",
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/guarantors-of-primary-mortgages/"
}