### Question
How does NATIONAL HOUSING define operating loss?


### Answer
Under *12 U.S.C. § 1715n*, **operating loss** is defined as:

> the amount by which the sum of the taxes, interest on the mortgage debt, mortgage insurance premiums, hazard insurance premiums, and the expense of maintenance and operation of the project covered by the mortgage, exceeds the income of the project

#### Citation:
  - *12 U.S.C. § 1715n*
  - Heading: **CHAPTER 13-NATIONAL HOUSING > SUBCHAPTER II-MORTGAGE INSURANCE**

