Oregon OHCS/FHA Risk Sharing Multifamily Loan Program Data.

Many years ago when I was but a wee lad (and the HUD Multifamily/ Development Director), I worked with Oregon Housing and Community Services to set up the OHCS/FHA Risk Sharing program for multifamily apartment financing.

As name implies Oregon FHA Risk Sharing program allows the use of OHCS underwriting standards, and benefit of credit enhancement with FHA loan guarantee, in exchange for state assuming 51% or more of the loss if loan defaults. Many, if not all of these projects also received 4% federal low income housing tax credits, meaning that the tenants served by the program are at lower incomes. Likely also that at least some of Risk Sharing project tenants use HUD housing choice vouchers, although tenants are free to use their voucher wherever they choose.

It's been a while since I looked at any Oregon Risk share data, but did so recently.

The PDF file I created HERE summarizes current risk sharing projects in Oregon.

The first page is a count of units and dollars by city and the following three pages are a listing of current Risk Sharing projects by city, sorted by date loan was endorsed. (The first page is letter size, the remaining three pages are legal size).

Data shows that more than 3,700 units in 37 projects are currently financed with FHA Risk Sharing loans, with total loan volume of more than $169 million. That works out to less than $46,000 per unit.

To my knowledge and based on data I have access to I do not think any FHA insurance claim has been made on any Risk Sharing project loan made in Oregon.

OHCS website for Risk Share is HERE.
HUD website on Risk Share is HERE.