Regulacje i polityka gospodarcza · 05/12/1994

Housing Finance Agency Risk-Sharing Program for Insured Affordable Multifamily Project Loans; Final Rule DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

On December 3, 1993, the Department published an interim rule which introduced a new mortgage insurance program authorized by the Housing and Community Development Act of 1992. The program is designed to increase the supply of affordable multifamily units by allowing State and local housing finance agencies (HFAs) to originate and service mortgage loans that are fully insured by HUD's Federal Housing Administration. Under the program, participating HFAs are required to share in the risk associated with monetary losses that may be incurred as a consequence of any loan defaults. Under the interim rule, 33 HFAs were approved to participate in the program. This rule finalizes the standards and procedures of the interim rule after taking into account the concerns expressed, and the recommendations made, during the rule's public comment period.