FY 10 Multifamily Initial Endorsements
While origination of conventionally financed loans dropped sharply in FY 10, Multi-family Hubs' loan closings jumped dramatically. During FY 2010, Multifamily's 18 Hubs initially endorsed 1011 loans totaling $11.3 billion and providing 170,672 units/ beds. FY 10's $11.3 billion is the highest $$ volume Hubs have ever closed in one fiscal year and FY 10's 1011 loan count exceeds loan counts for each of FY 05 thru FY 09. The 1101 loans covered properties in DC, Puerto Rico, and 45 states (all but Alaska, Delaware, Hawaii, North Dakota, & Vermont). The loans include 902 apartment/ coop loans, 61 Section 232 Health Care, and 48 Risk Sharing loans.

 -   FHA Programs: 45 Multifamily production offices and 52 lenders processed 963 of these loans under FHA programs that provide mortgage insurance on 100% of the loan amount. These 963 FHA loans provided a variety of shelter options: 891 apartment projects; 11 cooperatives; 30 assisted living / board facilities; and 31 nursing homes.
Risk Sharing: HUD's Risk Sharing programs created additional shelter.10 states made 39 HFA risk sharing loans covering 4,864 units/beds. Fannie made 5 loans and Freddie made 4 loans, covering 1160 units
Affordability: 184 of the 1101 FHA and risk sharing endorsements supported initiatives that make units especially affordable and improve physical conditions for elderly & low income families:
101 projects (71 FHA & 30 Risk Sharing loans) involved tax credits (LIHTC) and 26 loans used tax exempt bonds. 70 loans refinanced loans on older 202 elderly housing and 14 loans decoupled 236 Interest Reduction Payment (IRP) contracts. 23 loans involved HOPE VI, CDBG or HOME funds.
This site's Trends Narrative, Reports and Database provide more details on FY 10 Hub production and its comparison with earlier fiscal years.

Reports include US Totals as well as counts by Multifamily Hub, Production Office, states and lenders. Reports consider only loans Multifamily's 18 Hubs processed & closed. Loans processed by OAHP and the Office of Health Care Programs (OHP) are not included in any report. Reports include only loans
that had been entered into HUD's DAP (Development Application Processing System), as of COB October 3, 2010

Program coverage varies by report and is noted in the title of each report. Some reports count all Hub closings - FHA & risk sharing; apartments and health care. Other reports cover only a subset of those programs - e.g.:
just apartments (no health care); just new construction/ sub rehab (NCSR) apartments; or just the three main apartment programs (NCSR, 223f and 223a7 apt/ coops).