The value of all loans insured by the program since 1977 is about $500 million.

Others would expand its mission by having it insure foreign loans.

The Government has already lost $119 million after private developers defaulted on loans insured under the program.

He says he'll insure loans, but at what premium?

Instead, it insures loans so that if buyers default for some reason, the lenders will get their money.

Many of the loans insured since 1977 under the program have resulted in defaults, costing the Government about $90 million.

The transition report was especially critical of the program for insuring loans for apartment buildings.

Rather, it insures loans made by private lenders.

It insured loans made by banks and other private lenders for home building and home buying.

Currently, loans insured or guaranteed by VA are being modified under other programs.