HUD lender profile
MassHousing: HUD multifamily lending record
HUD insured 110 multifamily loans with MassHousing as lender in FY2022-FY2026, for $1.94 billion and 12,166 units. That is 3.0% of all HUD multifamily dollars in those years and #10 among lenders.
- HUD files it as MASSHOUSING
- MAP On HUD's MAP lender list as of September 16, 2026
- Endorsement data run October 8, 2026
What the numbers say
In FY2026 it closed 18 HUD loans for $169 million, up 32% from FY2025 and ranking #24 among HUD multifamily lenders that year.
HFA risk share was its largest program at 51% of five-year dollars, followed by 223(f) at 49%.
Every one of those loans was in Massachusetts.
Its median loan was $13.1 million, close to the $14.3 million median for all HUD multifamily endorsements in the same years.
69 of its 110 loans (63%) carried low-income housing tax credits, against 32% across all HUD multifamily endorsements.
Most of its HUD volume is Section 542(c) risk sharing, where a state or local housing finance agency underwrites the loan and shares losses with HUD. Those loans are not MAP loans and follow the agency's own process, which is why firm-to-closing times look so different from FHA's full-insurance programs.
HUD volume by fiscal year
- 223(f)
- New construction / sub rehab
- Other programs
| FY | Loans | Dollars | 223(f) | NC/SR | Rank | |
|---|---|---|---|---|---|---|
| FY2026 | 18 | $169M | 4 | 0 | #24 | |
| FY2025 | 11 | $128M | 1 | 0 | #23 | |
| FY2024 | 23 | $467M | 5 | 0 | #4 | |
| FY2023 | 21 | $516M | 10 | 0 | #6 | |
| FY2022 | 37 | $656M | 22 | 0 | #10 | |
| FY2021 | 26 | $597M | 11 | 0 | #13 | |
| FY2020 | 25 | $539M | 13 | 0 | #9 | |
| FY2019 | 20 | $278M | 4 | 0 | #13 | |
| FY2018 | 27 | $520M | 9 | 0 | #10 | |
| FY2017 | 31 | $533M | 8 | 0 | #8 | |
| Since FY2001 | 476 | $7.07B | ||||
Program columns count loans. Rank is by dollars among all HUD multifamily lenders that fiscal year.
Program mix, FY2022-FY2026
| Program | Loans | Dollars | Median loan |
|---|---|---|---|
| 542(c) housing finance agency risk sharing | 68 | $984M | $7.9M |
| 223(f) purchase or refinance | 42 | $954M | $18.8M |
Where it lends
| State | Loans | Dollars |
|---|---|---|
| Massachusetts | 110 | $1.94B |
Firm commitment to closing
Days from the firm commitment date HUD records to initial endorsement, for this lender's FY2022-FY2026 loans. This is the last stretch of a HUD deal, after underwriting is done; it is not the whole timeline from application.
- All its loans with both dates (110)
- 795 days median
- Middle half of its loans
- 90-1055 days
- 223(f) (42 loans)
- 91 days
- All lenders, FHA programs, FY2022-FY2026
- 91 days
Most recent HUD endorsements
| Endorsed | Property | Program | Loan |
|---|---|---|---|
| 2026-09-23 | Meshacket Commons-Rental · MA | HFA risk share | $4.3M |
| 2026-09-01 | Woodland Cove Phase II · MA | HFA risk share | $7.8M |
| 2026-09-01 | The Aurora · MA | HFA risk share | $1.6M |
| 2026-05-26 | The Pointe at Hills Farm 9% · MA | HFA risk share | $7.2M |
| 2026-05-26 | The Pointe at Hills Farm 4% · MA | HFA risk share | $3.2M |
| 2026-05-20 | 25 Sixth St. · MA | HFA risk share | $7.9M |
| 2026-05-19 | Woods at Wareham · MA | 223(f) | $24.4M |
| 2026-05-19 | Phare · MA | HFA risk share | $2.8M |
| 2026-04-09 | Beacon House · MA | 223(f) | $26.5M |
| 2026-03-27 | 2147 Washington · MA | HFA risk share | $10.0M |
| 2026-03-12 | Curtis Apartments Phase Two · MA | HFA risk share | $20.1M |
| 2026-01-20 | Union Block - Taunton · MA | HFA risk share | $1.7M |
Largest loans, FY2022-FY2026
| Property | Program | Loan |
|---|---|---|
| Westminster Village Arms Apartments · MA | 223(f) | $94.0M |
| Blue Elm United Estates · MA | 223(f) | $63.4M |
| 808 Memorial Drive · MA | HFA risk share | $61.5M |
| Mission Main · MA | HFA risk share | $60.6M |
| Blue Mountain Apartments · MA | HFA risk share | $52.3M |
| Clarendon Hill Towers · MA | 223(f) | $51.0M |
| 140 Clarendon · MA | HFA risk share | $44.3M |
| Daniel F. Burns Apartments · MA | HFA risk share | $43.7M |
Its HUD servicing book today
HUD's active insured mortgage file (as of September 30, 2026) lists Masshousing as servicer on 350 apartment loans with $4.96 billion of balance and 42,465 units. The median note rate on that book is 4.33%. 132 of the loans carry a rate under 4%. HUD lists the same name as holder of 350 loans.
- Risk sharing
- 269 loans
- 223(f)
- 81 loans
Largest servicing states: Massachusetts (350).
Compare it with the rest of the market in the HUD lender league table, see what recent loans closed at on HUD rates, or read how the 223(f) and 221(d)(4) programs work.
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