During FY 2009, despite significant challenges in the housing market and the general economy, FHA initially endorsed 713 loans totaling $5.4 billion and providing 88,481units/ beds. FY09's production exceeded FY 08's loan count (647) by 10% and FY 08's dollar volume ($3.7 billion) by 45%.
- 661 of these loans totaling $5.1 billion were processed by under FHA programs. 48 lenders made these FHA loans and those loans provided a variety of shelter options: 397 apartment projects; 7 cooperatives; 78 assisted living / board & care facilities; and 179 nursing homes. These loans covered properties in DC, Puerto Rico, and 48 states (all but North Dakota and Vermont). Multifamily Housing's 18 Hubs processed 548 of these 661 loans. The Office of Health Care Programs closed 88 of the loans and OAHP closed 25.
- HUD's Risk Sharing programs created an additional 52 loans totaling $311.5 million. These 52 loans include: 31 loans made by 8 state housing finance agencies (HFAs) and 21 loans made by Fannie and Freddie.
Over 200 of the 713 FHA & risk sharing endorsements supported initiatives that make units especially affordable & improve physical conditions for elderly & low income families:
- 71 projects (29 FHA & 42 Risk Sharing loans) involved tax credits (LIHTC).
- 133 endorsements refinanced loans on older 202 elderly housing.
- 6 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 2, 2009.