Skip to main content

Freddie Mac Top Multifamily Lender With $47.3 Billion in Volume for 2015

Jan 13, 2016
Freddie Mac has announced a new front-end credit risk transfer offering, Freddie Mac Deep MI CRT

Freddie Mac has announced today that it has become the nation's leader in multifamily lending for the first time, with $47.3 billion in loan purchase and bond guarantee volume for its multifamily business in 2015, up from $28.3 billion the previous year.

"We thank our dedicated Seller/Servicer network and loyal borrowers for enabling us to reach this historic volume milestone," said David Brickman, executive vice president of Freddie Mac Multifamily. "I am very proud of the Freddie Mac team who worked tirelessly all year serving and supporting the market and ensuring that we were able to achieve this significant result. Our financing is in every corner of the multifamily market and more diverse than ever, reaching into small balance loans, manufactured housing communities, seniors, student and government subsidized properties. We are focused on increasing the availability of mortgage capital, especially to the affordable and workforce housing sectors where demand continues to far outstrip supply."

Of the total new business volume, approximately $17 billion was not subject to the Federal Housing Finance Agency (FHFA) loan purchase $30 billion cap and included certain loans for affordable housing, smaller multifamily properties, seniors housing and manufactured housing communities.

"We had very strong growth in our loan purchase business in 2015, and expect our volumes this year to align with the market's overall growth," said Brickman.

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 purchased more than $47 billion in multifamily mortgages in 2015, the majority of which were securitized, thus transferring the vast majority of the expected credit risk from taxpayers to private investors.

About the author
Published
Jan 13, 2016
Co-Founder Mat Grella Terminated From NEXA After Buyout Disagreement

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024