Congress established the Federal Housing Agency (FHA) – Housing Finance Agency (HFA) Multifamily Risk-Sharing program in 1992 to increase and speed up FHA’s multifamily mortgage production. The FHA-HFA Risk-Sharing program allows state HFAs that meet rigorous financial standards to underwrite FHA multifamily loans in return for sharing the risk of losses on those loans.
The FHA-HFA Risk-Sharing program has been very successful, with 38 HFAs financing over 1,462 loans, totaling nearly $9.4 billion in principal and supporting more than 163,000 affordable rental homes. In Fiscal Year (FY) 2017, FHA issued firm commitments to HFAs to finance 115 loans, with a total principal balance of $1.56 billion, supporting 14,988 rental homes.
- To find local housing assistance, please contact your state’s Housing Finance Agency (HFA).
- To learn more about NCSHA’s advocacy work in this area or to attend a related education event, complete the general inquiry form.
- Members of the media, please contact Lisa Bowman, Director of Marketing and Communications, at firstname.lastname@example.org.
- FHA-HFA Multifamily Loan Risk-Sharing Program FAQ (Word Document Download) — 2017
- HUD letter on Federal Finance Bank (FFB) initiative for Risk-Share program (2014)