Question

FHA has established certain MPR’s that apply to loans that they insure. MPR is an abbreviation for:

Selections

A. Market Price Ratings

B. Minimum Property Requirements

C. Minimum Profitability Ratios

D. Mortgage Progression Times

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Answer: B

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5 Keys Summary

• MPR is an abbreviation for Minimum Property Requirements.

• The FHA (Federal Housing Administration) established MPRs as standards that properties must meet to be eligible for FHA mortgage insurance.

• The purpose of MPRs is to ensure that properties financed with FHA loans are safe, sound, and sanitary.

• FHA is a federal agency that insures lenders against losses on mortgage loans, rather than making the loans themselves.

• The specific loan requirements, including MPRs, are typically detailed in a handbook published by the U.S. Department of Housing and Urban Development (HUD), which oversees the FHA.

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