MassHousing said it provided $792.5 million for affordable housing in fiscal year 2011, helping to drive the agency to its second-best lending year in its 45-year history.

MassHousing’s 2011 lending total included an agency record $445.5 million in financing to preserve or create affordable rental housing and $314.2 million in loans or mortgage insurance to 1,531 low- and moderate income homebuyers. In fiscal 2010, the agency’s recorded its highest total lending amount: $838 million.

MassHousing makes loans to real estate developers to build new affordable rental housing or to preserve existing units. It also provides financing through a statewide network of approximately 200 lenders for affordable home mortgage loans for low- and moderate-income homebuyers.

MassHousing Executive Director Thomas R. Gleason attributed the agency’s record performances over the last several years to MassHousing’s ability to access lending capital and its commitment to first-time homebuyers and the preservation and production of affordable rental housing.

"MassHousing has been able to post these record lending numbers during a weak housing market and a severe downturn in the economy because it has shown unwavering confidence in owners of rental housing who extended affordability to their low- and moderate-income renters and in our first-time homebuyers," said Gleason. "Our record lending for affordable rental housing this year reflects our commitment to preserving this very valuable resource in the commonwealth by completing a number of transactions that were stalled for upwards of 18 months by the turmoil in the financial markets."