MassHousing received two National Housing Awards for excellence from the National Council of State Housing Agencies (NCSHA) at the NCSHA’s annual conference. The agency was recognized for its purchase and rehabilitation loan program for Massachusetts homebuyers and for the execution and expansion of new loan program for the owners of multifamily housing through the Federal Financing Bank (FBB).

MassHousing was honored in the homeownership category of home improvement and rehabilitation for the agency’s Purchase and Rehabilitation Program, which is the only formal mortgage program in Massachusetts that provides financing for both the acquisition and repair of neglected properties suffering from deferred maintenance.

The loan program addresses the rehabilitation of distressed properties, helps stem the decline of property values and fosters owner-occupied housing in at-risk neighborhoods which helps to reduce crime and increases the inventory of quality housing.

MassHousing was also honored in the rental housing category for preservation and rehabilitation for the agency’s work to implement the FFB’s risk-sharing initiative.

The FFB risk-sharing initiative provides state housing finance agencies with the means to offer risk-sharing insured loans at rates that are competitive with the rates for loans originated by the Federal Housing Administration.

“The FFB program, along with other newly developed loan products, has allowed us to offer financing for multifamily housing with lower interest rates in a highly competitive market without using valuable private activity volume cap or other public subsidies,’’ Tim Sullivan, MassHousing executive director, said in a statement. “This has resulted in our preserving and renovating hundreds of affordable apartments around Massachusetts for working families, individuals and senior citizens. It’s an honor to be recognized on the national level and reinforces our commitment to meeting the challenges in the changing ways affordable housing is being financed.’’