In a press release dated August 22, HUD’s Federal Housing Administration announced that there been such demand for FHA-insured financing to build, rehabilitate or refinance multifamily apartment properties. FHA today announced that it has endorsed $10.5 billion in multifamily rental housing loans since last October, with another month-and-a-half remaining in the fiscal year.
So far this fiscal year, FHA has endorsed nearly 1,100 multifamily loans, more than seven times the number of loans the agency endorsed just three years ago. This historic loan activity also breaks the $10 billion threshold for only the second time in FHA’s history of endorsing multifamily loans. To help meet this growing demand, FHA today published updated underwriting and program guidance to help accelerate and coordinate the processing of new loan applications.
