From several offices across the country, it issues mortgages to individual home buyers.

Banks will usually not issue mortgages unless an insurance policy protects the property.

But we cannot issue mortgages unless you have some down payment to protect us.

Such policies were written for more than a million of the 7.4 million mortgages issued last year.

But about $9 billion in mortgages issued under the program are still outstanding, raising the possibility of future losses.

In March 2009 mortgages issued by the bank rose by 70%, compared to the previous month.

The bulk of it will come from the state, through a mortgage issued by the Massachusetts housing finance agency.

Of nearly one million mortgages issued through the two programs, nearly 18 percent defaulted.

The legislator said the state had authorized banks to issue reverse mortgages but that "they are reluctant to do so."

At least 10 times from 1977 to 1981, he issued mortgages from his personal finances to people who wanted to buy property from him.