Fannie Mae Finances $535 Million in Loans to MH Communities
The amount of finance provided by Fannie Mae and its lenders in 2011 to manufactured housing communities held at around $535 million; essentially the same as in 2010, according to a recent report from the lender. Meanwhile lending to Multifamily Affordable Housing, which provides financing for rent-restricted properties and properties receiving other federal and state subsidies increased 282 percent compared to 2010, to $2.3 billion. Financing in the categories of Large Loans, Structured Transactions and Seniors Housing also rose. Fannie Mae reported as the demand for quality, affordable rental housing increased in 2011, the company and its lender partners provided $24.4 billion in debt financing for 2,763 mortgage loans.
(Image Credit: Eric Miller)
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