Mutual Mortgage Insurance Fund (MMI)
The principal accounting fund used by the Federal Housing Administration (FHA) to insure mortgages. When a borrower defaults on a mortgage, the FHA covers the lender's loss with money from the MMI Fund.
Related Definitions:
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.