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 38 HFAs financing over 1,703 loans, totaling nearly $12.6 billion in principal and supporting more than 193,490 affordable rental homes. In Fiscal Year (FY) 2020, FHA issued firm commitments to HFAs to finance 66 loans, with a total principal balance of $1.186 billion, supporting 8,084 rental homes.


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Photo Credit:  Texas Department of Housing and Community Affairs