WASHINGTON - A private audit showing huge potential losses for federal programs that insure multifamily housing loans could persuade Congress to put the brakes on Housing Secretary Henry Cisneros' plans for reinvigorating the programs, industry officials said yesterday.

But the report could so make the federal government move more quickly to implement a program enacted last year that would permit state and local governments to share the risk in insuring multifamily mortgages. many of which are backed by tax-exempt bonds, the officials said.

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