Housing Finance: Expanding Capital for Affordable Multifamily Housing
(Chapter Report, 10/27/93, GAO/RCED-94-3).

One of the nation's most critical housing problems today is the shortage
of decent and affordable multifamily rental housing. Congress has been
trying to expand the availability of capital to finance such housing
through credit enhancements--mechanisms for transferring credit risk
from one party to another--such as mortgage insurance.  Congress has
authorized the Federal Housing Administration to undertake risk-sharing
demonstration projects to test the effectiveness of new forms of federal
credit enhancements for multifamily housing.  This report examines (1)
the problems that have led to the shortage of mortgage financing for
affordable multifamily housing, (2) the factors limiting the expansion
of a secondary market for such housing, (3) alternative forms of federal
credit enhancements, and (4) ways to estimate and limit the federal
government's exposure to risks in adopting specific credit enhancements.

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

 REPORTNUM:  RCED-94-3
     TITLE:  Housing Finance: Expanding Capital for Affordable 
             Multifamily Housing
      DATE:  10/27/93
   SUBJECT:  Mortgage loans
             Low income housing
             Community development
             Federal aid for housing
             Mortgage programs
             Financial institutions
             Investment planning
             Government guaranteed loans
             Data bases
             Capital
IDENTIFIER:  RTC Affordable Housing Program
             HUD Delegated Processing Program
             RTC Community Investment Program
             
************************************************************************

We regret that the full text of this item is presently unavailable.

See the GAO FAQ - Section 2.0 for printed copy ordering information.
The FAQ is automatically retrieved with all WAIS search results or 
can be obtained by sending e-mail to: [email protected]