During FY 2008, Multifamily initially endorsed 647 loans totaling $3.7 billion and providing 70,914 units/ beds. The loans covered properties in DC, Puerto Rico, and 47 states (all but Delaware, No Dakota, & Vermont).
- 598 of these loans were processed by FHA's 47 production offices under Basic FHA programs. 48 lenders made these FHA loans and those loans provided a variety of shelter options: 402 apartment projects; 5 cooperatives; 67 assisted living / board; 123 nursing homes, and one mobile home park.
- HUD's Risk Sharing programs created additional shelter. 12 states made 43 HFA risk sharing loans covering 4,137 units/beds. Fannie and Freddie made 6 loans covering 734 units.
260 of the 647 FHA & risk sharing endorsements supported initiatives that make units especially affordable & improve physical conditions for elderly & low income families:
- 78 projects (40 FHA & 38 Risk Sharing loans) involved tax credits (LIHTC)
- 166 endorsements refinanced loans on older 202 elderly housing
- 16 loans decoupled 236 Interest Reduction Payment (IRP) contracts
This Site provides:
- reports describing the program, geographic, and lender distribution of these projects
- a database visitors may download & use to prepare their own analyses
These reports include only loans that had been entered into both F47 (the Multifamily Insurance System) and DAP (Development Application Processing System), as of COB October 3, 2008.