Importantly, the FHA multifamily portfolio stands at a historically low default-delinquency rate of 0.15 percent. That’s because multifamily premiums have consistently reflected the risk associated with the underlying loans and the program’s underwriting requirements have remained strong. As a result, agency multifamily programs are able to operate as self-funded, fully covered lines of business at HUD.
In our comments we also expressed support for HUD’s effort to complete the Multifamily Transformation Initiative. The initiative will restructure the organization and improve transactional and operational efficiency. In addition, it will enhance risk management tools and implement procedures that will result in significant savings across the organization.
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