Last week was a busy one for Housing and Urban Development Secretary Andrew Cuomo.

On Tuesday he announced that the department's FHA mortgage-insurance program, which dates back to the 1930s, has entered the electronic age. FHA loans can now be approved through the automated loan origination system of another government-backed enterprise, Freddie Mac.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.