FHA-HFA Risk-Share Program

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 37 HFAs financing over 1,546 loans, totaling nearly $10.3 billion in principal and supporting more than 172,300 affordable rental homes. In Fiscal Year (FY) 2018, FHA issued firm commitments to HFAs to finance 102 loans, with a total principal balance of $1.6 billion, supporting 11,947 rental homes.


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Photo Credit:  Texas Department of Housing and Community Affairs