Answers - Real Estate

A low-income home buying program is any program that helps low-income buyers qualify for a mortgage loan and purchase a home. In other words, it's a program designed t

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

o assist home buyers who might not otherwise qualify for a loan.

Most low-income home buying programs are sponsored or insured by the government in some way, such as

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

he programs listed below.

Freddie Mac and Fannie Mae
Freddie Mac and Fannie Mae are private corporations sponsored by the U.S. government. Both organizati

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ons indirectly help low- to middle-income families purchase homes, and in similar ways.

Freddie Mac
Freddie Mac is the Federal Home Loan Mortgage Corporat

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

on. This organization was chartered by Congress in 1970. Freddie Mac supports the secondary mortgage market by purchasing residential mortgage loans and reselling them

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

to investors on Wall Street. This increases the availability and affordability of home loans for low- and middle-income Americans.

Learn more at www.FreddieMac.com

<

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

b>Fannie Mae
Fannie Mae is short for Federal National Mortgage Association (FNMA). Congress chartered this organization in 1938. According to their website, F

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

nnie Mae "provides financial products and services that make it possible for low-, moderate-, and middle-income families to buy homes of their own."

Learn more at www

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

.FannieMae.com

Federal Housing Authority
The Federal Housing Authority (FHA) also supports low-income home buying in the U.S. The FHA was created as part

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

f The National Housing Act of 1934. The FHA supports the home financing industry by insuring mortgages. This in turn helps low-income home buyers qualify for mortgage

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

oans they might not otherwise qualify for.

Learn more at www.FHA.gov

Veteran's Administration Home Loans
The Veteran's Administration (VA) helps low-inco

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

me home buyers (and all home buyers, for that matter) by guaranteeing loans made by mortgage lenders. The VA does not actually make direct loans. The VA home loan prog

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

am is reserved for military veterans and their spouses. Applicants to the program must obtain a Certificate of Eligibility that they will in turn present to their mort

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

gage lender.

Learn more at www.homeloans.va.gov

Rural Housing Authority
The Rural Housing Authority (RHA) is another government organization that can ass

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

st low-income home buyers in certain situations. The RHA is part of the United States Department of Agriculture (USDA). Unlike the organizations mentioned previously,

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

he RHA actually makes direct loans to home buyers, among other things. They also guarantee regular commercial loans for home buyers in rural areas.

Learn more at www.

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

rurdev.usda.gov/rhs

State-Sponsored Programs
In addition to federal programs, there are many low-income home buying programs offered by state governments.

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

An example would be the Michigan State Housing Development Authority, which "makes low interest mortgage loans available through [their] network of experienced lenders

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

." Many other states offer similar programs. There are far too many state programs to list in this article, but you can learn more about them by searching online for h

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

me buying programs in your state.

* Copyright 2007, Brandon Cornett. You may republish this article online if you keep the author's byline and active hyperlinks below

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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