Multifamily Housing: Status of HUD's Multifamily Loan Portfolios (Fact
Sheet, 04/12/94, GAO/RCED-94-173FS).

The Department of Housing and Urban Development (HUD), through the
Federal Housing Administration (FHA), insures mortgages on multifamily
properties.  In cases of default, a lender may turn over the mortgage to
HUD and be paid for an insurance claim--HUD, in effect, becomes the new
lender for the mortgage.  The number of insured multifamily loans that
have defaulted and been assigned to HUD has grown significantly, and the
agency believes that even greater numbers of multifamily loans could
default in the future, producing additional losses.  This fact sheet
provides information on the financial state of HUD's multifamily insured
and assigned loan portfolio.  For the insurance-in-force portfolio, GAO
discusses the number of current and delinquent loans.  For the HUD-held
portfolio, GAO discusses the number of current and delinquent loans, the
ratio of loan delinquencies to the unpaid principal balances, and steps
that HUD has taken to resolve the delinquencies.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  RCED-94-173FS
     TITLE:  Multifamily Housing: Status of HUD's Multifamily Loan 
             Portfolios
      DATE:  04/12/94
   SUBJECT:  Loan accounting systems
             Loan defaults
             Loan repayments
             Mortgage loans
             Homeowners loans
             Lending institutions
             Financial management
             Insurance losses
             Delinquent loans
             Government guaranteed loans

             
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