Mortgage Insurance Rental Housing
Active
- Assistance listing
- 14.134
- Agency
-
Assistant Secretary for Housing Federal Housing Commissioner
Department of Housing and Urban Development
- Grant awards
- Not on record
Program facts
- Also known as
- Mortgage Insurance for Rental Housing -Section 207
- Treasury account
-
- 86-4077-0-3-371
- More information
Program details come from SAM.gov Assistance Listings. Updated .
About this program
The Department of Housing and Urban Development, through the Federal Housing Commissioner, insures mortgage loans for multifamily rental housing construction and rehabilitation under CFDA 14.134, with no current open grant opportunities and no recent grant awards in the source material.
The program operates as a mortgage insurance mechanism rather than a traditional grant vehicle. HUD insures lenders against loss on mortgage defaults for loans financing rental housing projects, with the stated intent of increasing the supply of quality and reasonably priced rental housing for middle-income families. Section 207, the core authority, is no longer actively issuing new commitments, though the program description references related federal assistance mechanisms that remain operative.
The program processes applications through a local HUD Multifamily Hub or Satellite Office structure. HUD targets a 60-day processing timeline for Firm Applications, excluding time when lenders respond to HUD requests for clarification or information. If an application is denied, HUD provides the reasons in writing, and appeals may be made under MAP Guide rules. Commitments to insure may be extended when additional time is required to close the loan. Mortgagees must service loans and maintain records in accordance with acceptable mortgage banking practices and HUD regulations; HUD reserves the right to audit the accounts of mortgagees or mortgagors to verify compliance with HUD standards.
Eligible mortgagors include investors, builders, developers, and others meeting HUD requirements for mortgagors. The source provides no data on award volume, typical loan insurance amounts, or recent activity. No grant opportunities are currently posted, and the source contains no portfolio data on recent insurance commitments, award counts, or funding trends. The program's operational status beyond the Section 207 authority is unclear from the source material provided.
Objective and description
- Objective
HUD insures mortgage loans to finance the construction or rehabilitation of a broad range of multifamily rental housing through a variety of programs linked in the Related Federal Assistance section. Though Section 207 itself is no longer active, thi
- Description
Section 207 insures lenders against loss on mortgage defaults. The intent of the program is to increase the supply of quality and reasonably priced rental housing for middle-income families.
Eligibility
- Applicant eligibility
Eligible mortgagors include investors, builders, developers, and others who meet HUD requirements for mortgagors.
- Beneficiary eligibility
All families eligible to occupy dwellings in a structure whose mortgage is insured under the program, subject to normal tenant selection.
- Uses of assistance
Section 207 insures lenders against the loss on mortgage defaults. Section 207 mortgage insurance, although still authorized, is no longer used for new construction and substantial rehabilitation. It is however, the primary vehicle for the Section 223(f) refinancing program. Multifamily new construction and substantial rehabilitation projects are currently insured under Section 221(d)(3) and Section 221(d)(4) programs. Insured mortgages may be used to finance the construction or rehabilitation of rental detached, semidetached, row, walk-up, or elevator type structures with 5 or more units. The program has statutory per unit mortgage limits which vary according to the size of the unit, the type of structure, and the location of the project. There are also loan-to-value and debt service limitations.
- Length and time phasing of assistance
New Construction and Substantial Rehabilitation mortgages are no longer insured under Section 207. For those existing subsection mortgage programs, e.g., 223(f), Refinancings (14.155), the mortgage term is generally 35 years subject to useful life restrictions.
How to apply
- Award procedure
If the project meets program requirements, the local HUD Multifamily Hub or Satellite Office issues a commitment to the lender to insure the mortgage.
- Deadlines
See Application Procedures
- Time to approval or disapproval
Processing timelines goals are for a 60-day processing of a Firm Application excluding time the lender is responding to HUD requests for clarification or information.
- Renewals
The term of a commitment to insure may be extended when more time is required to close the loan.
- Appeals
If an application for mortgage insurance is denied, HUD will state the reasons for the denial. Appeals may be made in accordance with MAP Guide rules.
Quick answers
What is Assistance Listing 14.134?
Assistance Listing 14.134 is Mortgage Insurance Rental Housing, a federal grant program run by Assistant Secretary for Housing Federal Housing Commissioner (Department of Housing and Urban Development).
What is the CFDA number for Mortgage Insurance Rental Housing?
Its CFDA number is 14.134: Assistance Listing numbers were called CFDA numbers before 2018.
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