National Housing Act mortgage-backed securities.
NHA MBS is a government-sponsored way for lenders to generate funding for default-insured mortgages.
NHA MBS are investments backed by pools of insured mortgages. Investors purchase these securities, which in turn provides issuers (lenders) with capital to lend against new mortgages. Investors receive monthly payments of principal and interest, as principal is passed through from payments on the underlying mortgages.