Commercial/Multifamily Briefs Sept. 10

M&T Realty Capital Corp. Becomes Freddie Mac Multifamily Targeted Affordable Housing Lender

M&T Realty Capital Corp., Baltimore, is now an approved Freddie Mac Multifamily Targeted Affordable Housing Optigo lender.

The Optigo program provides financing for multifamily properties in underserved areas affordable to families with low and very-low incomes including cash loans, bond credit enhancements, tax-exempt loans and others.

Freddie Mac’s TAH program provides specialty financing products that enhance permanent financing options for developers and owners of affordable housing properties.

HUD Urges Localities to Use Grant Funds to Prevent Evictions
HUD reiterated the Trump Administration’s commitment to minimize displacement and evictions resulting from the COVID-19 global pandemic national emergency.

HUD is reminding all grantees—states, cities, communities, and nonprofits—that received Emergency Solutions Grants or Community Development Block Grant funds that they may use these funds to provide rental assistance or other aid to individuals experiencing financial hardship because of the pandemic and are at risk of being evicted, consistent with applicable laws, regulations and guidance.

HUD continues to provide technical assistance to grant recipients to prevent evictions and keep people in their homes throughout the duration of the COVID-19 pandemic. Since the outbreak of COVID-19, the Department provided virtual office hours for grantees to ensure relief funds are being used quickly and efficiently. HUD has issued a toolkit for landlords and Public Housing Authorities so they can work with their tenants during this difficult financial time. Additionally, HUD has extended its Single-Family eviction and foreclosure moratorium for FHA insured Single-Family homes three times, has promoted the Department’s Housing Counselor services, and issued guidance for lenders.