MCLEAN, VA--(Marketwired - Feb 2, 2016) - Freddie Mac (
"These milestones represent our contributions in every corner of the market, including supporting affordability for households who need it most," said David Brickman, executive vice president of Freddie Mac Multifamily. "This year we will continue on our path to preserve more workforce and affordable housing, and grow our financing for small properties, manufactured housing communities and seniors housing."
Of the total new business volume, approximately $17 billion included certain loans for affordable housing, smaller multifamily properties, seniors housing and manufactured housing communities not subject to the Federal Housing Finance Agency $30 billion loan purchase cap.
Brickman added, "We think the industry will grow this year due to continued investment sale activity and refinance opportunities of CMBS maturing loans. We also expect Freddie Mac's business to grow proportionately with the market."
Freddie Mac Multifamily 2015 Business Highlights:
Click here to read the 2014 business volume press release.
Since the launch of Freddie Mac's multifamily business in 1993, it has provided more than $393 billion in financing for more than 66,000 multifamily properties.
Freddie Mac Multifamily helps ensure an ample supply of affordable rental housing by purchasing and securitizing mortgages on apartment buildings nationwide. The loans range from $1 million to several billions and roughly 90 percent support rental units for low- and moderate-income households. Freddie Mac securitizes about 90 percent of the multifamily loans it purchases, thus transferring the vast majority of the expected credit risk from taxpayers to private investors.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is the largest source of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.