Posts Tagged ‘multifamily lenders’

Wells Fargo was Freddie’s Top MHC Seller in 2015

February 6th, 2016 1 comment

freddie_mac_loan_volume_scotsmanguide__freddie_macFollowing a story MHProNews posted Jan. 14, 2016 regarding GSEs Fannie Mae and Freddie Mac’s multifamily loans for 2015, which totaled just under $90 billion, rebusinessonline reports CBRE was Freddie’s highest-producing multifamily mortgage seller with $6.96 billion in originations.

Making the announcement at the Mortgage Bankers Association (MBA) convention in Orlando, Freddie reported Wells Fargo Multifamily Capital was the top manufactured housing community seller and affordable housing seller with $3.53 billion in originations. Freddie ranked number five on the list of the top multifamily lenders.

The nation’s largest source of financing for multifamily housing, Freddie Mac’s loans range from $1 million to several billion dollars. Approximately 90 percent of the loans are for low-to-moderate income rental units. Additionally, Freddie securitizes about 90 percent of the multifamily loans it purchases, which transfers the credit risk from taxpayers to private investors. ##

(Image credit:scotsmanguide-Freddie Mac loan volume)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Manufactured Housing Included in GSE Lending

February 2nd, 2016 Comments off

mortgage app  housingwire creditHitting a record high of nearly $90 billion in multifamily lending in 2015, the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, are poised to hit another new lending record this year as their volume lending caps are adjusted by the government.

Freddie Mac topped the two multifamily lenders with $47.3 billion in loan purchase volume, spiking from $28.3 billion in 2014, according to what costar tells MHProNews. Ninety percent of the $42.3 billion in financing provided by Fannie Mae to the multifamily market in 2015 supported 569,000 units of multifamily housing.

Said David Brickman, executive vice president of Freddie Mac Multifamily: 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.”

Roughly $17 billion was not subject to the Federal Housing Finance Agency’s $30 billion cap and included loans for manufactured housing, senior housing, affordable housing and smaller multifamily housing.

Of the total 2015 multifamily production, manufactured housing communities accounted for $786 million, an increase of 58 percent over the $496 million in 2014.

Melvin L. Watt, director of the FHFA, says the agency will maintain the $30 billion cap for the GSEs in 2016, and will perform a quarterly review of the market to determine if adjustments are necessary. He said, “We will continue to exclude from the cap loans for affordable properties, including those in higher-cost areas. We will also continue to exclude certain loans for manufactured housing communities, as well as seniors housing and small multifamily properties affordable to low-income tenants.” ##

(Image credit: housingwire)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.