Mortgage Insurance: HUD’s Risk-Sharing Program and Its Role in Financing Affordable Rental Housing
What GAO Found Each year, the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) insures billions of dollars in mortgages for multifamily properties through a variety of programs. HUD’s section 542(c) program provides FHA insurance for loans on affordable multifamily properties that are originated, underwritten, and serviced by housing finance agencies (HFA). The program is also known as the risk-sharing program because HUD and HFAs share the risk of loss on the loans. From fiscal years 2016 through 2025, HFAs underwrote over $12 billion (adjusted for inflation) in FHA-insured multifamily loans under the program. These loans helped finance 776 projects..
Reported by Maria LopezMortgage Insurance: HUD’s Risk-Sharing Program and Its Role in Financing Affordable Rental Housing.
The item is dated Tue, 15 Sep 2026 07:21:48 -0400.
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What GAO Found Each year, the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) insures billions of dollars in mortgages for multifamily properties through a variety of programs.
HUD’s section 542(c) program provides FHA insurance for loans on affordable multifamily properties that are originated, underwritten, and serviced by housing finance agencies (HFA).
The program is also known as the risk-sharing program because HUD and HFAs share the risk of loss on the loans.
From fiscal years 2016 through 2025, HFAs underwrote over $12 billion (adjusted for inflation) in FHA-insured multifamily loans under the program.
These loans helped finance 776 projects…
Official Source
GAO reports and testimonies RSS. Accessed 2026-09-15T15:00:12.312Z.