Q: What trends do you see based on the lending applications coming in to MassHousing?
A: We see a large increase in the number of mixed income projects as the need for housing and the number of projects under development is far greater than the amounts that can be financed with the volume of tax-exempt debt we can issue.
Q: MassHousing’s rental lending volume has been rising the last several years. Why?
A: The development of the HUD MAP (Multifamily Accelerated Processing) platform has given us access to the benefits Ginnie Mae securitization, which allows us to offer very competitive loan terms to projects that qualify. In addition, because of MassHousing’s longstanding Risk Share relationship with HUD, we were able to take advantage of a very competitive program through the Federal Financing Bank, which is an arm of the U.S. Treasury.
Q: MassHousing oversees properties in its own lending portfolio, but also hundreds of other properties for HUD. What’s something you’d like people to know about the work MassHousing does for HUD?
A: MassHousing receives and resolves over 300 tenant complaints annually for HUD. In addition, the properties we oversee for HUD have access to and the benefit of our Community Services TAP program and all its related activities.