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FY 02 Multifamily Initial Endorsements

Initial Endorsements increased dramatically in FY 02 as HUD endorsed 1104 Basic FHA & Risk Sharing loans totally $6.5 billion and providing 146,991 units/beds. The number of Basic FHA loans endorsed exceeded FY 01 endorsements by 55% and was more than double FY 00 levels. All major programs contributed to the increase. New construction/ sub rehab apartments were up 20% and 232 health care and 223f loans jumped 55%. The 1047 Basic FHA loans are spread across 48 states, the District of Columbia and Puerto Rico and provide the public with a variety of shelter options: 731 apartment/coop projects; 97 assisted living/ board & care facilities; 215 nursing homes, and four mobile home parks. 18 HFAs and Fannie Mae made risk sharing loans.

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