MassHousing is a HUD-approved Multifamily Accelerated Processing (MAP) Lender. As the mortgage insurance provider for HUD, the Federal Housing Administration (FHA) insures mortgages to finance the acquisition, new construction, substantial rehabilitation and refinance of multifamily developments.
MassHousing (either acting solely or in conjunction with a joint-venture lending partner) underwrites, funds and services FHA-insured mortgage loans on multifamily housing. Loans are funded on a taxable basis through the issuance of a GinnieMae-Backed Securities, or can be used as credit enhancement for tax-exempt bond issues.
The products are among the most attractive long term, non-recourse, permanent financing vehicles for eligible multifamily developments. Loans can be used for Refinance/Acquisition 223(f) or in conjunction with 4% or 9% Low Income Housing Tax Credits (LIHTC).
For more information about the 223(f) Program, contact MassHousing's Director of Rental Operations Sergio Ferreira.
For general information about HUD’s Multifamily Accelerated Processing Program, visit the HUD MAP website.
For general information about GinnieMae Backed Securities, visit the GinnieMae website.