Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Housing Finance: Expanding Capital for Affordable Multifamily Housing

  Premium   Download PDF Now (140 pages)
Report Type Reports and Testimonies
Report Date Oct. 27, 1993
Report No. RCED-94-3
Subject
Summary:

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.

« Return to search Government Accountability Office reports