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FY 06 Multifamily Initial Endorsements

HUD endorsed 1016 loans (931 in Basic FHA programs and 85 in Risk Sharing programs). These loans totaled $5.1 billion and provided 112,221 units/beds.

56 lenders made the 931 Basic FHA loans for properties located in the District of Columbia, the Virgin Islands, and all states except Alaska and South Dakota. The Basic FHA loans provide a variety of shelter options: 701 apartment projects; 6 cooperatives; 68 assisted living / board & care facilities, and 156 nursing homes. Risk Sharing programs created additional shelter. 12 states made 59 HFA risk sharing loans covering 6,390 units. Fannie and Freddie made 26 loans covering 2,863 units.

OAHP endorsed 110 of the 235 223a7 refinancings. 249 loans involved refinancing of 202 loans and 22 loans decoupled Section 236 Interest Reduction (IRP) contracts. 133 projects in 29 states and the District of Columbia received Low Income Housing Tax Credits (LIHTC) in conjunction with these loan transactions. 74 of the LIHTC projects were developed under Basic FHA programs and 59 under Risk Sharing programs.

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