What's interesting about the FHASecure program is that it leaves underwriting
standards in place with one notable
exception: A more liberal
standard for those with toxic loans who have late or missed
payments after the mortgage has re-set.
Standard deductible: $ 5,000 per claim, applicable to claim expenses, indemnity
payments and / or costs of repairs together (some
exceptions apply).
Fourth, in § 160.203, several criteria relating to the statutory grounds for
exception determinations have been further spelled out: (1) The words «related to the provision of or
payment for health care» have been added to the
exception for fraud and abuse; (2) the words «to the extent expressly authorized by statute or regulation» have been added to the
exception for state regulation of health plans; (3) the words «of serving a compelling need related to public health, safety, or welfare, and, where a
standard, requirement, or implementation specification under part 164 of this subchapter is at issue, where the Secretary determines that the intrusion into privacy is warranted when balanced against the need to be served» have been added to the general
exception «for other purposes»; and (4) the statutory provision regarding controlled substances has been elaborated on as follows: «Has as its principal purpose the regulation of the manufacture, registration, distribution, dispensing, or other control of any controlled substance, as defined at 21 U.S.C. 802, or which is deemed a controlled substance by state law.»