According to the FHFA, the caps are based on its projections for the overall size of multifamily originations market. The FHFA expects the 2019 market to be relatively flat compared to the market in 2018.
Also, the FHFA is increasing the requirements for exclusion from the multifamily cap loans that finance energy or water efficiency improvements through Fannie Mae’s Green Rewards and Freddie Mac’s Green Up/Green Up Plus programs. In 2019, multifamily loans that finance energy or water efficiency improvements must project a minimum 30 percent reduction in whole property energy and water consumption and a minimum of 15 percent of the reduction must be in energy consumption. FHFA is also adding a data collection requirement for all excluded Green Rewards and Green Up/Green Up Plus loans, which requires engagement of a third-party data collection firm prior to closing.
National Mortgage Professional magazine celebrates the accomplishments of the top originators.
There’s no doubt 2021 was a good year to be an originator. But for some outstanding loan officers it was a great year. National Mortgage Professional magazine celebrates the accomplishments of the top originators by total dollar volume who shared their success with us. It’s ...
Embrace the family, be nurturing, and understand the cash mentality
We have witnessed the tremendous buying power of Hispanics as their homeownership rates skyrocket. And yet, many Spanish-speaking customers run into roadblocks when it comes to financing. According to the National Association of Hispanic Real Estate Professionals, Latinos ex...
The letter cites rapidly rising interest rates, rising home prices and rents, and the rising cost of lumber and building materials for significantly decreasing housing affordability.