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Risk Sharing Program
In 1994, in an effort to increase the supply of affordable multifamily
housing, provide a more adequate supply of mortgage credit in underserved
housing markets and encourage major financial institutions to expand
their participation in mortgage lending, HUD entered into Risk Sharing
Agreements with Qualified Participating Entities (QPEs).
LHFA was approved as a Qualified Participating Entity (QPE) and entered
into a Risk Sharing agreement with HUD to provide mortgage insurance
for affordable multifamily housing in the State of Louisiana. Through
this agreement, LHFA assumes a portion of the risk for each loan it
underwrites and HUD, in turn, commits to pay 100% of the outstanding
principal mortgage balance upon default of the loan and filing of a
claim.
LHFA is responsible for the full range of loan management, servicing,
and property disposition activities associated with these properties.
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Assistance is available on an equal basis regardless
of race, color, familial status, national origin, religion, sex or handicap. |
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