Abstract

http://ssrn.com/abstract=154388
 
 

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A New Initiative in the Federal Housing Administration's Office of Multifamily Housing Programs: An Assessment of Small Projects Processing


Drew Schneider


PriceWaterhouseCoopers LLP

James R. Follain


Federal Home Loan Mortgage Corporation (FHLMC); National Bureau of Economic Research (NBER)


Cityscape, Vol. 4, No. 1

Abstract:     
This article critiques the Federal Housing Administration's (FHA's) new processing option for small, multifamily mortgage insurance -- small projects processing (SPP). The authors review some of the motivations behind reforms at FHA multifamily and highlight how the SPP initiative is designed to serve some of HUD's broader affordable housing goals. The authors summarize the research to specify certain aspects of the SPP initiative, highlighting the discussions that took place with FHA, its consultants, lenders, developers, and other government representatives. They identify the aspects of traditional multifamily finance programs that make them difficult to use in serving the small loan market, and contrast these aspects against the actual reforms adopted as part of the SPP initiative. Finally, the authors propose additional steps in the further development of SPP and the ongoing reforms of FHA multifamily and the industry at large.

Number of Pages in PDF File: 16

JEL Classification: R19

Accepted Paper Series


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Date posted: March 17, 1999  

Suggested Citation

Schneider, Drew and Follain, James R., A New Initiative in the Federal Housing Administration's Office of Multifamily Housing Programs: An Assessment of Small Projects Processing. Cityscape, Vol. 4, No. 1. Available at SSRN: http://ssrn.com/abstract=154388 or http://dx.doi.org/10.2139/ssrn.154388

Contact Information

Drew Schneider (Contact Author)
PriceWaterhouseCoopers LLP
1301 Avenue of the Americas
New York, NY 10019
United States
James R. Follain
Federal Home Loan Mortgage Corporation (FHLMC) ( email )
8200 Jones Branch Road
McLean, VA 22101
United States
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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