HUD lender profile
Rhode Island Housing and Mortgage Finance Corporation: HUD multifamily lending record
HUD insured 22 multifamily loans with Rhode Island Housing and Mortgage Finance as lender in FY2022-FY2026, for $218 million and 2,006 units. That is 0.3% of all HUD multifamily dollars in those years and #42 among lenders.
- HUD files it as RHODE ISLAND HSG MTGE FIN CORP
- Endorsement data run October 8, 2026
What the numbers say
In FY2026 it closed 1 HUD loan for $2.5 million, down 70% from FY2025 and ranking #55 among HUD multifamily lenders that year.
Its HUD book is concentrated: HFA risk share made up 100% of its dollars over five years.
Every one of those loans was in Rhode Island.
Its median loan was $9.6 million, below the $14.3 million median for all HUD multifamily endorsements in the same years.
9 of its 22 loans (41%) 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 | 1 | $2.5M | 0 | 0 | #55 | |
| FY2025 | 2 | $8.4M | 0 | 0 | #51 | |
| FY2024 | 3 | $22.0M | 0 | 0 | #43 | |
| FY2023 | 8 | $55.6M | 0 | 0 | #35 | |
| FY2022 | 8 | $130M | 0 | 0 | #28 | |
| FY2021 | 6 | $48.3M | 0 | 0 | #47 | |
| FY2020 | 5 | $79.9M | 0 | 0 | #39 | |
| FY2019 | 4 | $40.0M | 0 | 0 | #45 | |
| FY2018 | 4 | $47.4M | 1 | 0 | #41 | |
| FY2017 | 6 | $52.7M | 0 | 0 | #38 | |
| Since FY2002 | 149 | $941M | ||||
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 | 22 | $218M | $9.6M |
Where it lends
| State | Loans | Dollars |
|---|---|---|
| Rhode Island | 22 | $218M |
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 (22)
- 114 days median
- Middle half of its loans
- 41-726 days
- All lenders, FHA programs, FY2022-FY2026
- 91 days
Most recent HUD endorsements
| Endorsed | Property | Program | Loan |
|---|---|---|---|
| 2025-12-23 | West House II · RI | HFA risk share | $2.5M |
| 2025-07-23 | Bourne Mill Phase III · RI | HFA risk share | $4.2M |
| 2025-03-05 | Fifty Washington Square · RI | HFA risk share | $4.2M |
| 2024-07-24 | Brookside Terrace Phase II · RI | HFA risk share | $1.1M |
| 2024-07-23 | Cathedral Square Apartments II · RI | HFA risk share | $19.9M |
| 2024-05-07 | Rockville Mill · RI | HFA risk share | $1.0M |
| 2023-08-21 | Riveredge Village Apartments · RI | HFA risk share | $10.3M |
| 2023-08-01 | Pine View Apartments · RI | HFA risk share | $2.0M |
| 2023-07-13 | Marvin Gardens Apartments · RI | HFA risk share | $16.5M |
| 2023-07-13 | Copley Chambers I · RI | HFA risk share | $2.3M |
| 2023-06-30 | Sutton Place Rehabilitation · RI | HFA risk share | $1.9M |
| 2023-01-20 | Park Holm Phase III · RI | HFA risk share | $2.3M |
Largest loans, FY2022-FY2026
| Property | Program | Loan |
|---|---|---|
| Bear Hill Village Apartments · RI | HFA risk share | $21.8M |
| Three Sisters · RI | HFA risk share | $21.0M |
| Indian Run Village Apartment · RI | HFA risk share | $20.6M |
| Cathedral Square Apartments II · RI | HFA risk share | $19.9M |
| Metcalf Courts Apartments · RI | HFA risk share | $19.8M |
| Marvin Gardens Apartments · RI | HFA risk share | $16.5M |
| Hardig Brook Apartments · RI | HFA risk share | $14.5M |
| Douglas Manor Apartments · RI | HFA risk share | $13.9M |
Its HUD servicing book today
HUD's active insured mortgage file (as of September 30, 2026) lists Rhode Island Housing and Mortgage Finance Corporation as servicer on 95 apartment loans with $625 million of balance and 9,440 units. The median note rate on that book is 6.10%. 3 of the loans carry a rate under 4%. 4 mature within five years. HUD lists the same name as holder of 95 loans.
- Risk sharing
- 94 loans
- 223(f)
- 1 loans
Largest servicing states: Rhode Island (95).
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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