September 5 2018 Patricia Burke Acting Director Office of MF Production Basic FHA Multifamily Programs Endorsements Closings Actual FY 2017 and Projected Fiscal Year 2018 Annualized data as of 8252018 ID: 728228
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Slide1
MF Production
Midwest Lenders ConferenceSeptember 5, 2018Patricia BurkeActing Director, Office of MF Production
Slide2
Basic FHA Multifamily Programs
Endorsements (Closings) Actual FY 2017 and Projected Fiscal Year 2018 Annualized data as of 8/25/20182Slide3
221d4New Construction/Sub Rehab – Endorsements
(Annualized 2018 based on data to 8/25/18)3Slide4
223f & A7s
Refinancings – Endorsements (Annualized 2018 based on data to 8/25/18) 4Slide5
Basic FHA Multifamily Programs
Firm Commitments Projected for Fiscal Year 2018 Annualized data as of 8/25/2018
Program
# of loans
Volume ($ Millions)
% change in $ volume from FY2017
New Constr/Sub
Rehab
272
$6,687
320%
223(f)
504
$7,588-7%223(a)(7)64$870-60%TOTAL840$15,712-1%
5Slide6
LIHTC – FHA Production
221d4, 223f, A7, 241a and Other & Risk Share (excl. Health Care)Firm Commitments4/15/2015
PRE-DECISIONAL, PROPRIETARY, and CONFIDENTIAL
6
Tax Credit Production – MF FHA Basic and Risk Share
FY16
FY17
FY18
(annualized based on YTD 8/25/18)
# of Projects
322
372
335
$ Volume$3.1 Billion$3.8 Billion$4.1 Billion# of Units45,56553,44549,305Slide7
Incoming Pipeline
Basic MF FHA programs – FY 2016 to 8/25/18 4/15/2015PRE-DECISIONAL, PROPRIETARY, and CONFIDENTIAL
7Slide8
Incoming Pipeline
Basic MF FHA programs – FY 2016 to 8/25/18 4/15/2015PRE-DECISIONAL, PROPRIETARY, and CONFIDENTIAL
8Slide9
Hit Ratio – how likely to get approved(note: Some deals get Final Reject, then are reworked and resubmitted as new applications and ultimately do get approved – thus, HUD and Lender get to work on it twice. This is obviously inefficient.)
Program
/ Stage
# of decisions made -
FY16, during the MF Transformation
% approved
(the rest
were either rejected or owner withdrew)
# of decisions made
- FY17, Post-MF Transformation
% approved
(the rest
were either rejected or owner withdrew)
223(a)(7) - FIRM17795%17793%223(f) - FIRM45389%59592%NewC/Sub RehabPREAPP22348%35642%NewC/Sub RehabFIRM23088%24791%