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Housing Finance Agencies (HFA) Risk Sharing

Published on AidPage by IDILOGIC on Jun 24, 2005

Purpose of this program:

Under Section 542(c), HUD provides credit enhancement for mortgages for multifamily housing projects whose loans are underwritten, processed, serviced, and disposed of by Housing Finance Agencies (HFA). HUD and the Housing Finance Agencies share in the risk of the mortgage. The program was originally designed as a pilot program to assess the feasibility of risk-sharing partnerships between HUD and qualified State and local HFAs in providing affordable housing for the Nation. The Section 542(c)program is now permanent multifamily insurance program.